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How do you recognise income from a defaulting client?

Accounting
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Question added by Roben Kofu , Head Office Accountant , Grief (Zimbabwe),Zellco Cellular,Mars
Date Posted: 2014/07/16
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Ali Tariq
by Ali Tariq , Deputy Manager Financial Reporting , Descon Chemicals Limited

The Income from a defaulting client is recognised as per accounting standards, only the receivable from that clients will be provided against provision for doubtfull debts.

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