Taiwan's Ministry of Finance has issued a notice clarifying that when accounts payable are not paid within the statutory period for a creditor's claim, the unpaid accounts are reclassified as other revenue and shall be recognized as non-operating expenditure at the time of actual payment.
---
The Accounts Payable of a Profit-Seeking Enterprise That Have Not Yet Been Paid at the Period of Limitation for the Claims Shall Be Enumerated Under "Other Revenue"
When doing business, profit-seeki…