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Bed debts recovery

This topic has 3 replies, 2 voices, and was last updated 7 years ago by John Moffat.

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July 30, 2018 at 8:06 pm #465312
zony123
Participant
- Topics: 32
- Replies: 18
Sir can you please tell me Is Bad debts recovered an income or expense?
Thanks in advance
July 31, 2018 at 8:06 am #465374
John Moffat
Keymaster
- Topics: 57
- Replies: 54835
It is income (or a reduction in expense, which is the same thing).
This is all explained in my free lectures on irrecoverable and doubtful debts. The lectures are a complete free course for Paper F3 and cover everything needed to be able to pass the exam well.
(We stopped calling them bad debts many years ago – they are called irrecoverable debts)
July 31, 2018 at 3:55 pm #465423
zony123
Participant
- Topics: 32
- Replies: 18
Sir there is a question in my book weather it should be (i)treated as reduction in expense. Or
(ii) it should be treated as other income
Which option should i choose?
July 31, 2018 at 5:19 pm #465441
John Moffat
Keymaster
- Topics: 57
- Replies: 54835
A reduction in expense (but does your book not have answers? You should be using a Revision Kit from one of the ACCA approved publishers – they have answers and explanations.)
Again, have you watched the free lectures?
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