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Receivables

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Receivables

  • This topic has 2 replies, 2 voices, and was last updated 6 years ago by iyamu.
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    Posts
  • July 23, 2019 at 1:04 pm #524703
    iyamu
    Participant
    • Topics: 286
    • Replies: 171
    • ☆☆☆

    Sir, if as a bank we close loan account due to the fact that the customer was not found until after two years , do we make allowance for that bad debt and then open an account bearing interest for the loan so that when the customers shows up , he can now pay both the principal and accrued interest?

    Kind regards

    Chris

    July 23, 2019 at 3:09 pm #524730
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7217
    • ☆☆☆☆☆

    Hi,

    You would follow the rules of impairment under IFRS 9.

    Thanks

    July 31, 2019 at 4:13 am #525685
    iyamu
    Participant
    • Topics: 286
    • Replies: 171
    • ☆☆☆

    Thanks a lot sir

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