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Ind AS 109

Financial Reporting

In Financial assets example, Deposit given for returnable container is said to be financial asset. What if deposit is withold by supplier when we failed to return container or container got damaged, theft etc?

Himanshu Somani

CA Final

★ 96K+

07-Jun-23 23:13

214

Answers (1)

The asset will be derecognized and expensed to P&L

CA Suraj Lakhotia

Admin

08-Jun-23 09:39

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