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Advances written off
I had given some advance to company which is irrecoverable now..so I want to write off..so what explanation is required in audit against it??
Replies (1)
Its really difficult...u have to substantiate with all the evidence that u have tried best of u and filed a case..for compnay the same has to be passed by Board....
but i think its better to creat a 100% provision for the same...the imoact of P/L will be same if u creat a provision ...or write it off fully.
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