One of the debtor has disputed for payment of debts due to a company. The matter is in Arbitration. In such an event, I would like to know on what basis the company is required to provide for bad debts? Please explain with reference to Accounting Standard...
12 June 2010
Please read As -29 and the conditions mentioned therein that require to make a provision for expenses. If the conditions are satisfied then provision compulsory.
CAclubindia
