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Forensic Accounting

What are the accounting entries for debtor impairment?


What are the accounting entries for debtor impairment?

asked Nov 29, 2012 in IFRS 9 - Financial Instruments by anonymous
retagged Feb 16, 2013 by Mysio

2 Answers

–1 vote
 
Best answer
Its like this:

Dr. Impairment Loss (Profit & Loss)
Cr. Provision for impairment (Balance Sheet)
answered Dec 16, 2012 by Tina Level 5 Member (11,560 points)
selected Oct 17, 2013 by Tina
Isn't that the Provision is not allowed for debtors in the IAS 37?
Please explain if it's not..
check here:
http://www.ifrsanswer.com/1/general-provision-for-doubtful-debts
Then in the answer of the Tina says "Provision for impairment"(while the provision is not allowed for debtors) Please Explain.
0 votes
Impairment losses should be recognized in P&L

Dr. Impairment Loss (Profit & Loss)
Cr. Relevant Asset Account (Balance Sheet)
answered Nov 29, 2012 by anonymous



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