Hi Tutor can you explain for me how I should calculate the interest income in accrual basis for chargeable period account for company ?
Ask the Tutor ACCA TX-UK
Interest income accrued
The same as you do in accounting - have you sat the Financial Accounting paper yet?
Amount received plus closing accrual minus opening accrual.
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
No, the cash basis is only applicable to unincorporated traders
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