Interactive thread on investment-related questions

[Southie]

Re: Interactive thread on investment-related questions

@Ali

sometimes Interest is not paid within the reporting period and taxes are usually paid after the period end (after assessment apart from advance taxes or tax deducted at source if any)

General purpose Financial statements are prepared based on Accrual concept. Interest and taxed accrued but not paid will effect IS but not Cash flows

Thanks Ali. By IS do you mean income statement?