Discount allowed

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166 Points Posted on 15 August 2020
in ICAI material discount allowed is considered as TEMPORARY CAPITAL as per traditional approach actually it is an expense right??
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On 15 August 2020 at 22:41 Report
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This discussion questions the treatment of 'discount allowed' in accounting, specifically referencing ICAI material which categorises it as 'temporary capital'. Participants are seeking clarification on whether this aligns with the traditional view of it being an expense. The conversation aims to resolve this potential misinterpretation by examining the exact wording in the ICAI material.

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Profession
28261 Points Posted on 16 August 2020
Who told you wrong concept.
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On 16 August 2020 at 08:10
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166 Points Posted on 16 August 2020
In ICAI material it is given as temporary capital why?
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On 16 August 2020 at 13:08
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Profession
28261 Points Posted on 16 August 2020
It's not temporary capital.
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On 16 August 2020 at 18:44
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166 Points Posted on 16 August 2020
Kk tq
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On 16 August 2020 at 18:45
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Others
1012 Points Posted on 20 August 2020

Hi Bsai

Can you share the exact statement from ICAI material that reads the same. Will help to clear this misinterpretation of words.

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On 20 August 2020 at 02:20

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