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provisioning for other receivables
03-02-2010, 03:52 AM
Post: #1
provisioning for other receivables
we all know about provision being recognised/maintained for trade receivables...usually its always shown in that note..

however, if an 'other receivable' becomes doubtful under 'advances,deposits,prepayments & other receivable'.....then how should the provision for that be disclosed in the notes??
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03-02-2010, 02:59 PM
Post: #2
 
Other receivable
====Considered good=========XXXX
====Considered doubtful=====XXXX
___________________________________________
============================XXXX
Less Provision=============(XX)
___________________________________________
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03-02-2010, 03:51 PM
Post: #3
 
Noman

It will be presented exactly in the similar manner; you will mention the amount of impaired advances with whatever nomenclature it carries and after that deduct the provision for doubtful advance. Expense will be recognised as part of "Administrative expenses" or "Other operating expenses" (currently there are these two varying prcatices to group this charge).

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