Dear Experts,
If accounts receivables from a customer is $1000. The customer d
does not pay and court orders that assets of customer can be sold by the seller and settle against accounts receivables. What is the accounting treatment as per IFRS.
Whether assets acquired from customer is to be treated as asset held for sale and accounts receivables can be credited.
Whether on sale of assets revenue is to be recognised less cost of removal of assets.

Bookmark on Delicious
Digg this post
Recommend on Facebook
Share on Linkedin
share via Reddit
Share …