Debtor's reinstatement
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 January 2013
One company sold goods to its parent company on dollar terms.But as per the management there is no need to reinstate the debtors on B/S date because the parent company will only pay the amount(in Rs.) which was due on the date of transaction.Is this practice correct??
08 February 2013
If ur accounting currency is USD, then there is no need of restatement. But if ur accounting currency is other than USD, then restatement is mandatory.
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