What does SORP mean?
Answer / guest
SORP stands for "Statement of Recommended Practice" and is
a best practice guide for accountancy in a specialised
sector. It is normally issued by the regulatory body
relevant to that sector and recognised by the ASB
(Accounting Standards Board).
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taken loan from Private person(Dec'2014) - Rs. 6 lac and already interest paid for the year 115200 but interest taken for A/c Rs.38400/-.(upto March2015). remaining amount for this year i.e. 76800/- how to enter in tally. please clearify
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