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Security Deposit accounting
how to account the refundable security deposit received from the lesse under the finance lease under Ind AS regime ?
Replies (4)
Dr Bank and Cr Security deposit returnable (Current liabilities)
At what value ? the transaction value or the present value?
and if the present value, then will you unwind the notional interest over the period of the lease term ?
and if the present value, then will you unwind the notional interest over the period of the lease term ?
You have to record it at the trx value only
Should we also write it as an expense to p&l a/c
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