Abhishek PanegalAbhishek Panegal asked 2 months ago

Dear Sir,
In this question why cant it be considered that adjustment of Debtor and Creditor inter se is against Applicable FRF so would attract auditor to report ? Would it be wrong ? If its that then we need to mention it needs reporting to the shareholders. Kindly clarify

2 Answers
RaviRavi Staff answered 1 month ago

there is no AS or Ind AS who governs this adjustments
no need to bring it in between
such things are done because it increases current asset ratio

RaviRavi Staff answered 1 month ago

it can be fake entry without any documents

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