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Accountancy Forum The Profession Accounting and Audit v
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Accounting for guarantees and LCs

 
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Accounting for guarantees and LCs
muhammad_apa
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#3
08-27-2009, 03:09 PM
my dear any contigencies( Like Gurantee and any other events whose outcome depend in future events) shall be shown in notes to the accounts in Balance Shaat under the heading of Contigencies but read IAS 37 for this.
and LC other than capital expenditure shall be shown under the heading of commitment in notes to the accounts in Balance Sheet and LC related to Capital expanditure shall be add in related capital expenditure in Fixed assets.ok

Muhammad Atif
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Messages In This Thread
Accounting for guarantees and LCs - by Shafi - 08-17-2009, 02:58 AM
[No subject] - by nabeelanwer - 08-21-2009, 03:42 PM
[No subject] - by muhammad_apa - 08-27-2009, 03:09 PM

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