[David Grima]

Hello all,
Just wondering if any of you are involved with the Annual Statements and specifically with the calculation of the provision for doubtful debts (both rates & debtors).
There has been a change to the accounting standards and was wondering if anyone had come up with working papers to account for the change in methodology.
David

[Andrew Butcher]

Hi David

Aware of this and had have spoken to our Audit Office representatives. I have attached documentation that you might be interested in reading to help support your decision making process. Click here: AASB 9 July15 Impairmentofreceivables

I have not included rates in the calculation and also not postponed rates. We have taken our sundry debtors as at 30 June 2019 and deducted government grants (assuming they wont go bad and internal transactions) to which we applied the ‘simplified method’ matrix.

Happy to discuss further if you need to.

Regards,
Andrew

[Author]

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