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What is the position of IFRS regarding the recognition of directors current accounts?

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January 6th 2015 AN ACCA USER 140 Points

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Directors current account balances can be either a debit balance or credit balance. Therefore you got to classify it under current asset or current liability as in the name of "amount due from / to related parties". Then the transactions in the current account has to be analysed & significant transactions has to be disclosed under "related party transactions" note

January 11th 2015 AN ACCA USER 440 Points
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