297 – Investments & Advancements – Other Operations

Other Assets

 

Synopsis

Account 297

Debits

Credits

  1. Investments in other ventures or business; advances to other ventures or business such as:

    • Body shops

    • Insurance companies

    • Other retailers

  1. Repayment of investments in other ventures or businesses.

  2. Repayment of advances to other ventures or businesses.

 

 

Remarks:

Subsidiary records should support this account and should provide detailed cost data for each investment or advance.  Profits and losses as a consequence of these investments and advances should be reported in Account 805 - Income from Other Operations.

Note: