Please support resolving this case.
3 years ago, an invoice was wrongly accounted for. Instead of recognising my revenue for $100, I have recognized for $1,000. Of course, this amount is not due by the customer...
However, there is a provision for baddebt of $900 (since this amount is still appearing as a receivable).
I would like to charge this "receivable" of $900 instead of reversing the revenue for the same.
Will this be ok - as per IFRS?
Thanks a lot.