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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › non trade loan relationship rule
I have problem in calculating interest income for non trade loans. In some answers in the revision kit, I have seen they take the value of interest receivable only, while in others they also adjust the opening and closing accruals.
Can you please explain how to calculate it.
We always use the loan interest RECEIVABLE in the chargeable accounting period of the company BUT sometimes you have to calculate this figure for yourself – where the question would give you opening and closing accrued amounts and the amount RECEIVED in the period