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Good morning Sir. I am kindly asking for your help on this issue.
A company has made an overseas investment. The country has been defaulting on their interest payments for a while because of their economic situation.
The company has therefore decided to reclassify the Investment to a Receivable. Is this a correct accounting treatment?Hi,
I think they should be looking at an impairment of a financial asset as well as putting the amount in investments. I’m not sure why they have decided to put it as a receivable.
Thanks
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Thank you sir.
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