Can anyone have any idea whteher the security deposit or advance received from customer can be adjusted from his outstanding for calculation of ageing.Please qute the relevant extracts of US GAAPS if any available on this subject.
31 December 2008
Not correct to deduct unless a decision is taken to appropriate Security Deposit or Advance received towards Dues outstanding, after exhausting all possible means and incorporating transfer adjustments in Accounts
CAclubindia
