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Is Cash Discount effect any financial statements ?

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تم إضافة السؤال من قبل Fahid Malik , Accountant , Sialkot Dry Port Trust
تاريخ النشر: 2017/03/09
John Shannel Julian
من قبل John Shannel Julian , Business Controller , Philips Lighting India Ltd

It depends upon what is the accounting method you follow. If gross method is followed then it affects your statement of income and financial position. In case of net method there is no effect if our assumption is correct else (if the discount is not taken by your customer) then it affects.