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How to account for assets when your parent company bought th

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How to account for assets when your parent company bought th

Postby JoeClark » Mon Oct 16, 2017 12:55 pm

I work for an American NGO with offices in Africa. The USA office buys computers, cameras that we consider as assets for the Africa offices. Yet they don't appear in the Africa branches accounting but only in USA's accounting since the cash disbursement is done in USA. I believe the Africa branches accounting should reflect those assets as they are the ones using it and when it's time for local audit, it might cause problems. How do I account for these assets knowing that The Africa offices did not pay for it and considering the fact that it's an NGO cant record is at payable because There will be no paying back.

Please help!


I didn't find the right solution from the internet.
References :
https://www.accountantforums.com/thread ... em.166182/


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