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Please Help: Accounting for Buyers Credit

Posted Date : 18-Feb-2012 , 01:00:24 pm | Posted By: CA Vipul M. Devganiya

Category : Accounts | Answers : 10| Comments : 0| Hits: 1898

What would be the accounting treatment for Buyers credit arranged?What would be the accounting entry at the time of roll - over of buyers credit?Whether cost for arrangement of buyers credit like LOU charges,interest charges, bank commission charges will be capitallised as a part of acquisition cost of assets?

Answers:
   Answer by: Mrattunjay
its depends upon situation by situation... in some cases it should be capitalised but in other cases not ? So can u explain the real facts for advice from our point of view?
   Answer by: Ketan Samdani
If the credit is for purchasing a fixed asset then capitalise otherwise charge the expenses to Profit & loss a/c on accrual basis.
   Answer by: Vaneet Gupta
   Answer by: Vaneet Gupta
   Answer by: Vaneet Gupta
   Answer by: Vaneet Gupta
   Answer by: Vaneet Gupta
   Answer by: Vaneet Gupta
   Answer by: Vaneet Gupta
   Answer by: Vaneet Gupta
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