security deposit from debtor
This query is : Resolved
Kartik kapoor
(Querist)
31 December 2008
Hi
Can anyone have any idea whteher the security deposit or advance received from customer can be adjusted from his outstanding for calculation of ageing.Please qute the relevant extracts of US GAAPS if any available on this subject.
best regards
kartik
Can anyone have any idea whteher the security deposit or advance received from customer can be adjusted from his outstanding for calculation of ageing.Please qute the relevant extracts of US GAAPS if any available on this subject.
best regards
kartik
K V Subba Rao
(Expert)
31 December 2008
Not correct to deduct unless a decision is taken to appropriate Security Deposit or Advance received towards Dues outstanding, after exhausting all possible means and incorporating transfer adjustments in Accounts
Kartik kapoor
(Querist)
31 December 2008
Thanks
Can you give any refernce from Indian GAAP or US GAAP
Regards
Kartik
Can you give any refernce from Indian GAAP or US GAAP
Regards
Kartik
Kartik kapoor
(Querist)
02 January 2009
Dear All
please clarify whether the adjustement of same is possible .
Regards
Kartik
please clarify whether the adjustement of same is possible .
Regards
Kartik
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