• Register
Search Questions / Answers

Welcome to AccountantAnswer Forum, where you can ask questions and receive answers. Although you need not be a member to ask questions or provide answers, we invite you to register an account and be a member of our community for mutual help. You can register with your email or with facebook login in few seconds

Get AccountantAnswer App


Accounting entry for obsolete stock?
in IAS 2 - Inventories by

1 Answer

0 votes


Cost of sales/expense   Dr

Provision for obsolete stocks  Cr

Write off:

Cost of sales/expense   Dr

Stocks/inventories  Cr

by Level 5 Member (25.6k points)
Why when it is being written off we would not  Dr provision A/c  instead?
If you already have the provision account credited, then you can.