Creditor written back
This query is : Resolved
12 August 2008
Dear Member,
In case of one a company which has transferred its business to an another concern last year, had written off nearly 32 lacs of creditors in the current year.
I would like to know what would be its treatment as per Accounting Standands issued by ICAI.
Do company can write off its creditor or take any remedial action of Following back with the creditor regarding their payment due.
In case of one a company which has transferred its business to an another concern last year, had written off nearly 32 lacs of creditors in the current year.
I would like to know what would be its treatment as per Accounting Standands issued by ICAI.
Do company can write off its creditor or take any remedial action of Following back with the creditor regarding their payment due.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- TDS on Fixed Assets purchased
- TDS on purchase of under construction property from a reseller
- GST Intimation due to Government took possession of Business Premises under PPE Act
- SALARY CAN BE CAPITALIZE
- Non filing of I T Returns
- Capitalgain tax purposes for valuation report compulsory
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
