Saturday, April 07, 2012

101

Here's a tip, auditors. You don't ask the question "so do you have any idea when this related company will make payment to you?" simply because it's up to the companies lah when they want to settle debts between them even though the amount has been there for years and years. They're related companies for God's sake. Kata adik-beradik, jadi suka hati diorang lah bila nak bayar.

The same goes to government agencies. There's a reason why companies do not treat long-outstanding debts/ payables by government agencies under Unclaimed Money Act  even if they've reached the 7-year-mark or make a provision for doubtful debts/ bad debts. I think you can figure out the reason all by yourself.

There are things that books don't tell you and you have to use your brain and common sense instead of relying on books. Tolong lah jangan malas sangat nak berfikir.


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