Purchase accruals - report to NCIS?
A company purchases goods for resale and accrues for the cost in its accounts.
The supplier fails to submit an invoice and the goods remain unpaid for.
If the company that bought the goods does not take steps to obtain an invoice from the supplier despite knowing that they should have paid for those goods, would that amount to dishonesty and lead to the requirement for a report to NCIS?
Might the answer differ depending on whether the company purchasing the goods retained the accrual in its accounts or wrote it off at some point?
Any thoughts gratefully received!
Edward C Rands
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