ACCA December Exams

Post comments & Vote in Instant poll >>

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for March 2025 exams.
Get your discount code >>

Interest income accrued

This topic has 3 replies, 3 voices, and was last updated 9 years ago by Tax Tutor.

Viewing 4 posts - 1 through 4 (of 4 total)

Author
Posts
May 19, 2015 at 12:39 pm #247168
Abuzer
Participant
- Topics: 10
- Replies: 25
Hi Tutor can you explain for me how I should calculate the interest income in accrual basis for chargeable period account for company ?
May 20, 2015 at 5:43 pm #247439
Tax Tutor
Member
- Topics: 2
- Replies: 3965
The same as you do in accounting – have you sat the Financial Accounting paper yet?
Amount received plus closing accrual minus opening accrual.
May 21, 2015 at 5:39 am #247500
avishco
Participant
- Topics: 17
- Replies: 44
Dear Tutor,
Can you please clarify if ever there are any income which need to be accounted at cash basis for company?
Thank you,
Avinash
May 24, 2015 at 12:00 pm #248391
Tax Tutor
Member
- Topics: 2
- Replies: 3965
No, the cash basis is only applicable to unincorporated traders
Author
Posts

Viewing 4 posts - 1 through 4 (of 4 total)

You must be logged in to reply to this topic.