Knowledge with Humor

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IAS 32 specifies that a financial asset and a financial liability should be offset and the net amount reported when, and only when, an entity: [IAS 32.42]

has a legally enforceable right to set off the amounts; and
intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Wot iz dis behavior.

Auditor*

Modern problems require modern solutions! 😉😛

People need to understand this

May this friendship continue forever