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متابعة

It is acceptable that some adjusting entries contain estimated amounts: True or False ?

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تم إضافة السؤال من قبل عيسى ابو الهيش , General Accountant , Al Faisaliah Medical System (FMS)
تاريخ النشر: 2016/10/19
MARLON QUILANG ASUNCION
من قبل MARLON QUILANG ASUNCION , Senior Accountant , Al Shouhra Trading Co., W.L.L. (Chalhoub Group)

It will be acceptable only provided the estimated amount was a measurable one, meaning there was a basis on the estimate and the certainty of the transaction to occur or materialize is most likely to happen.

Faisal Kamran
من قبل Faisal Kamran , Manager Finance , Perfect Finish Coatings LLC

False because adjusting entries are made to adjust previous provisions or estimations.