What is Subject to realisation?
cheques are sent for collection to the issuers bank and after if they clear the cheque the amount is realised and hence it is called subject to realisation.
We can apply the bank realisation certificate once we received the foreign currrency realisation against the invoice. While appliing the certificate we have to fill the all details such as the commodity exported, the fob value of the invoice, the commission and freight value against the shipment and submit to the bank for attestation.
Bryan Carsberg has written: 'The reporting of profits and the concept of realisation' -- subject(s): Accounting 'Competition regulation the British way' -- subject(s): Competition, Trade regulation 'Reflections on the regulation of privatised companies' 'An international comparison of inflation accounting standards' -- subject(s): Accounting and price fluctuations
Revaluation account and Realisation account both are nominal account. the purpose of revaluation account is taking the effect of fluctuations in asset & liabilities in their books while purpose of realisation account is to closing the books of accounts of a comapany or a firm. Revaluation a/c is made when any fluctuation in value of an asset takes place. realisation a/c is made at the time of liquidation of a company or a firm.
Geoffrey Brown has written: 'Child development' -- subject(s): Child psychology 'Aspiration and realisation' -- subject(s): Attitudes, College graduates, College students, Employment, Longitudinal studies, Vocational interests 'The information game' -- subject(s): Computer security, Databases, Information technology, Moral and ethical aspects, Moral and ethical aspects of Computer security, Moral and ethical aspects of Databases, Moral and ethical aspects of Information technology, Right of Privacy