Purchase of Gold Bullion
Tinajanine
Registered Posts: 2 New contributor 🐸
in Tax
I prepare accounts for a Limited company and the director has purchased gold bullion coins through the limited company. I was thinking that it should be an asset or investment, but would appreciate your thoughts on this please.
0
Comments
-
Depending on the reason why the gold was purchased, it could be stock (if intended for resale asap) or investment (if intended to be held for the purpose of being stored until it increases in value).
Either way, it is most definitely an asset.0
Categories
- All Categories
- 1.3K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 387 NEW! Qualifications 2022
- 173 General Qualifications 2022 discussion
- 16 AAT Level 2 Certificate in Accounting
- 77 AAT Level 3 Diploma in Accounting
- 113 AAT Level 4 Diploma in Professional Accounting
- 8.9K For accounting professionals
- 23 coronavirus (Covid-19)
- 276 VAT
- 96 Software
- 281 Tax
- 147 Bookkeeping
- 7.2K General accounting discussion
- 208 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 589 Job postings
- 16 Who can benefit from AAT?
- 37 Where can AAT take me?
- 43 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 67 AAT membership