Debtors write off
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 April 2013
Are Indian Accounting Standards applicable for sole proprietory & patnership firms?
What are rules for writng off debtors? Is it compalsory to write of debtors which are 1 year old?
What are rules for writng off debtors? Is it compalsory to write of debtors which are 1 year old?
15 April 2013
Indian AS are not applicable on partnership firms and proprietorship business.
Secondly, there is no rule for writing off debtors. Just an accounting entry will work
Thirdly, there is compulsion on writing off of debtors. As soon as a person realizes that there is an uncertinity in receipt of payment, he can create provision for bad debts with appropriate amount.
Secondly, there is no rule for writing off debtors. Just an accounting entry will work
Thirdly, there is compulsion on writing off of debtors. As soon as a person realizes that there is an uncertinity in receipt of payment, he can create provision for bad debts with appropriate amount.
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
- Fixe term employment
- Is any professional CA is here please reply
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Experts need help
- Section 50-fixed asset-->building ceases to exist
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Putting a heading on received mail
- Gift Received from nonblood relative
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Reprocessing of rectification order AY 2025-26
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
