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This query is : Resolved
03 December 2014
Under AS-9, I have reversed my Sales of current month as the same has not reached the parties.now the Question what about the freight expense which I have already incurred as the material is already dispatched by me.
Should I show the incurred freight expense as Prepaid freight and book the expense in the next month in which the sales in realized.
OR
Should the freight be booked in the month of dispatch.
Please give relevant provision or AS on the base of which you are suggesting the solutions
Should I show the incurred freight expense as Prepaid freight and book the expense in the next month in which the sales in realized.
OR
Should the freight be booked in the month of dispatch.
Please give relevant provision or AS on the base of which you are suggesting the solutions
03 December 2014
better u book sales and make a provision for loss of such sales and also book frieght exp.this is as per as9
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