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AUDIT, IAS 18, IFRS BLOG, OTHER IFRS »

[14 Oct 2010 | 5 Comments | 3,057 views]

Dear Sirs,
My query is related to IAS-17 described below :
A tenant is leased an office and billed for a year. The lease agreement is signed and handed over the kays. The tenant did not pay rent and legal case filed. The lease agreement is renewed automatically and keys are still with the tenant. Now in accounting the outstanding is considered as provision for doubtful debts.
Now I have following questions:
Whether tenant should be billed for another years & recognize revenue and simultaneously provide as bad debts, based on the facts that …

AUDIT, EVENTS, FINANCIAL INSTRUMENTS, IFRS, IFRS BLOG, IFRS FOR SME, IFRSLIST.COM, LOCAL GAAP vs IFRS »

[14 Jul 2009 | 2 Comments | 3,301 views]

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