yasaswi gomes (My grammar is 💯 good I) 09 June 2020
Hi,
Does any company include insurance coverage in its receivables?
eg., if a shop insurance policy was purchased for an amount, and it has a coverage of 1,00,000₹ amount from damage/fire/theft, then is it included in receivables?
I don’t think so right?
txs.
PADMANABHAN K K (CA) 09 June 2020
yasaswi gomes (My grammar is 💯 good I) 10 June 2020
I am still confused because Receivables fall under financial instruments and they, financial instruments, don’t fall under the scope of Provisions. Anyways, your right because a contingent asset is not a receivable. Thank you.
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