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How account for uncollectible lease payment after recognizing revenue on accrual basis prior years?


Looking for guidance on how parent company would account for lease payments deemed to be uncollectible in current year when revenue was recognized in prior years.

asked Feb 15, 2017 in IAS 17 - Leases by ANDREA

1 Answer

0 votes
If it is not collectible then it impaired and you need to provide for impairment of the lease receivables in your balance sheet (financial assets)
answered Feb 16, 2017 by Peterz Level 2 Member (4,560 points)


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