Sale of goods lost in transit
senthil P (1 Points)
24 February 2023
please share the accounting standard for goods lost in transit
2 Replies
Yasaswi Gomes new
(Finance )
(4545 Points)
Replied 24 February 2023
Complete reimbursement. No accounting standard mentions this issue. Standards are there to progress a company like a going concern. And then, reimbursements can be a small topic and it depends upon the contract.
prasad Nilugal
( GST Practitioner & Accounts )
(14846 Points)
Replied 24 February 2023
AS 9 ( sale of Goods) may be useful , just confirm. not sure.
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