17 May 2009
In my clients books some amount nearly 94Lacs is outstandig from 1999-2000. That was carryforward in Debtors which is o/s from Govt for the project.Last year it received 3 lacs. What treatment should be given to remaining Outstanding amount that amount it will be writeoff from books or it will continue as debtors.My client says it will definitely received but takes some time?and it was a Engineering staff training institute and it also carries Some Research for newly introduced schemes of govt.For that it receives fee!
18 May 2009
Its totally on management of the company. Take a mail from ypur client saying that these amount will recieve from debtors. Also inform ur audit partner.
CAclubindia
