Advance given to creditor - which could not be recoverable
This query is : Resolved
15 September 2014
Hi Friends,
My company was paid advance to creditor long back ago for supply of material to the company but now it became irrevocable c.
Company submitted sue on that supplier , the case is going on.
In the FY 2013-14 how it is effect on financial statements of the company.
where it will required to disclose .
My company was paid advance to creditor long back ago for supply of material to the company but now it became irrevocable c.
Company submitted sue on that supplier , the case is going on.
In the FY 2013-14 how it is effect on financial statements of the company.
where it will required to disclose .
Nikhil Kaushik
(Expert)
16 September 2014
it would continue to form part of your current assets. but due for more than 6 months.
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