Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Creditors: amounts falling due after more than one year

  • 20-06-2013 3:42pm
    #1
    Registered Users, Registered Users 2 Posts: 25


    Hello

    In the balance sheet for an audit exempt company does the monies owed to the shareholders go under 'Creditors: amounts falling due after more than one year'?

    And secondly is it the total amount owed to them since the company formed or just for that period?

    Thanks


Comments

  • Registered Users, Registered Users 2 Posts: 735 ✭✭✭Alan Shore


    Hope you are not going to file accounts if you are not sure about how to prepare them.

    http://www.cpaireland.ie/userfiles/file/ryb/finance%20for%20non%20acc%20part%201.pdf.pdf

    The share capital goes in the equity section, the accumulated profit is added to it and should balance with the assets less liabilities.


  • Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭dbran


    Hi

    Equity shareholders would normally go in the share capital section.

    Non equity shareholders which for example may be redeemable at a premium may go in creditors due after 1 year.

    But if you don't know what you are doing I think you may be storing up trouble for yourself as your accounts will not make sense to anyone and will need to be restated.

    dbran


  • Registered Users, Registered Users 2 Posts: 25 sirglavcelot


    Hi

    I'm not submitting anything I'm just trying to get a handle on them so I know what the account is talking about. He explains everything at a mile a minute with never any time for questions. So I'm trying to get a handle on what he done last year so I can understand and predict with some accuracy what will happen this year, so I don't sound like a blundering idiot.

    It's for a company that has not really launched due to legal negotiations so it's safe to assume that the accounts will be pretty straight forward again and therefore gives me a better chance of understanding them.

    I appreciate the link to the PDF on Finance for Non Accountants but why is there not more info like this to help professional in other fields to understand what's happening within there financials and why. I would love to study some hypothetical accounts set out over several year periods that had explanatory footnotes.

    Thanks


Advertisement