Pl let me know about the Bad Debts.is we need to make the provision for the bad debts, & what are the actions we need to take before accounting the receivables as bad debts. & is accounting standards specify any thing about it.
27 August 2009
No Accounting Standared for that. and if account is over due more then credit period given by you then u make provision for bad debts based on your previous experience with the party.
CAclubindia
