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Receivables from associate.

This topic has 1 reply, 2 voices, and was last updated 3 years ago by P2-D2.

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September 12, 2021 at 7:47 am #635550
agboolakenny84
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- Topics: 19
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If a company sells goods to its associates and the associate hasn’t paid at year end, should the company add the receivables from associates when preparing the financial statements?
September 17, 2021 at 7:57 pm #635917
P2-D2
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- Topics: 4
- Replies: 7079
No, we do not consolidate any balances of the associate when equity accounting and nor do we eliminate any outstanding balances either. The only adjustment made would be for the share of the PURP.
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