tag:blogger.com,1999:blog-5726840133806680419.post5379751276920405678..comments2023-12-18T13:15:11.314-08:00Comments on Auditing & Accounting: Assessment of insurance claims receivableKauditorhttp://www.blogger.com/profile/16370916862042809927noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5726840133806680419.post-26953976379990049462015-03-12T06:43:37.392-07:002015-03-12T06:43:37.392-07:00The money paid for the hospital visit would be exp...The money paid for the hospital visit would be expensed as incurred and the insurance recovery would only be recognised once the insurer has accepted liability or if they haven't yet, and thus it is contingent on their acceptance, then the asset would only be recognised if the receipt is virtually certain (ias 37), which is a fairly high hurdle. Whether the amounts are netted in the P&L is a separate question. Anonymousnoreply@blogger.com