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A building construction is stopped after one year. During construction business have made advance payments to suppliers. How this cost should be treated?

Business construction is stopped due to legal reason. And a case is ongoing which seems not in favour to business. So, what should now do with advance payments and the cost already incurred??? 

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Question ajoutée par Mujibur Rahman ACCA , Founder And CEO , MR-Accountants
Date de publication: 2015/12/10
Bishan Jamwal
par Bishan Jamwal , Finance Manager , G4S Qatar WLL

These advances to suppliers are taken under 'receivables'. Derecognition or impairment as per IAS.

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