10-15-2004, 02:32 AM
Hi
I do not agree whith WHAAP. On the face of balance sheet does not mean that you can not write it. It means that its not included as a line item. Disclosing it as part of another item without saperately treating it as a line item means it has not been recognised and no effect of the transaction has been passed. So the convention of not showing it on the face of balance sheet stands.
Thanks
Aamer Sikandar
I do not agree whith WHAAP. On the face of balance sheet does not mean that you can not write it. It means that its not included as a line item. Disclosing it as part of another item without saperately treating it as a line item means it has not been recognised and no effect of the transaction has been passed. So the convention of not showing it on the face of balance sheet stands.
Thanks
Aamer Sikandar
