Accounting standards

Accountancy

As per AS 4, if a debtor became insolvent after balance sheet date and no extra information available, is it adjusting event?

Pushkala S

CA Final

★ 3K+

26-Jul-22 12:48

439

Answers (4)

You need to check whether there were indications that the debtor had issues on the balance sheet date.

CA Suraj Lakhotia

Admin

26-Jul-22 16:19

CA Suraj Lakhotia Admin

You need to check whether there were indications that the debtor had issues on the balance sheet date.

Ok sir..thank you

Thread Starter

Pushkala S

CA Final

★ 3K+

26-Jul-22 16:22

CA Suraj Lakhotia Admin

You need to check whether there were indications that the debtor had issues on the balance sheet date.

If there were no indications is it non-adjusting sir?

Thread Starter

Pushkala S

CA Final

★ 3K+

26-Jul-22 16:23

Thread Starter

Pushkala S

If there were no indications is it non-adjusting sir?

Yes.

CA Suraj Lakhotia

Admin

26-Jul-22 16:39