Definition of an investment
A small company (adopting the FRSSE) has placed an amount with a Building Society in what is described as a "Business Savings 2 Year Fixed Rate Bond". Part withdrawals are not permitted and closure before maturity leads to loss of gross interest.
The accounts show this as an investment (a fixed rate savings bond) but I am suggesting that it is nothing more than "cash at bank".
Any opinions please?
- Are any of you members of The Institute of Financial Accountants - Accountnats certificate 1,238 24
- Moving to BTC from Sage Accounts Production 39 1
- Restriction of trading loss and overlap relief 183 3
- Multiple for fee bank purchase 200 5
- Business lending another business money (UK) 325 9
- Manufacturer cashback on fixed asset purchase 85 1
- Does anyone have an old version of Sage for sale? 307 7
- Family Partnership 300 9
- Problems viewing AWeb posts 205 5
- CIC Abbreviated Accounts 204 6
- Business trips - director and family 427 3
- Signed accounts for bank 676 15
- flat rate scheme 2,392 50
- Rollover relief - No new asset purchased 335 5
- Can I prepare dormant accounts? 210 2
- How do you integrate prepaid expenses in to the cash conversion cycle? 115 2
- What route into accountancy would you recommend? 875 12
- Deferring dividends on paper 220 5
- VAT Query on new build 133 1
- How to format Co-operative Accounts 129 1