Sale of goods lost in transit

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1 Points Posted on 24 February 2023
please share the accounting standard for goods lost in transit
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On 24 February 2023 at 20:22 Report
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This discussion explores the accounting treatment for goods lost in transit, noting that there isn't a specific accounting standard for this scenario. Reimbursements are generally dependent on the contract terms between parties. While AS 9 (Sale of Goods) was suggested as potentially relevant, it was not confirmed.

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Finance
4592 Points Posted on 24 February 2023

Complete reimbursement. No accounting standard mentions this issue. Standards are there to progress a company like a going concern. And then, reimbursements can be a small topic and it depends upon the contract.

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On 24 February 2023 at 20:38
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GST Practitioner & Accounts
15150 Points Posted on 24 February 2023
AS 9 ( sale of Goods) may be useful , just confirm. not sure.
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On 24 February 2023 at 21:53

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