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 Accounting and Audit
 Classification of Bank Charges
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aaamer123
Unregistered Trainee

Pakistan
3 Posts

Posted - Apr 21 2006 :  12:33:42 PM  Show Profile
Assalam-o-Alikum

I hope all u r fine.Without wasting ur time i will like to highlight my problem that is classification of Bank Charges in FINANCIAL STATMENTS under the roof of income tax rules & Accounting Standards .

Experts opinion is require from Accounting Engneers & Experts.

Muhammad Adnan Arshad
Manager

Pakistan
660 Posts

Posted - Apr 21 2006 :  2:04:18 PM  Show Profile  Visit Muhammad Adnan Arshad's Homepage
"BANK CHARGES" are generally treated as "Financial Expenses", so they are classified under the title head of "Financial Expenses" in the note to the accounts (or financial statements), according to the "International Financial Reporting Standards (IFRS)" (formerly called International Accounting Standards (IAS))
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