The allowance method is the means by which companies are able to better anticipate and prepare for the loss that will occur from customer accounts that will be uncollectible in the future. Unlike the ...

Even the most cautious businesses will sometimes sell products or services to deadbeats. Since it is impossible to identify accurately all bad apples in advance, generally accepted accounting ...

Could your debt be reduced or forgiven? Take our financial relief quiz. If you’re a business owner extending credit to customers, then you’ve likely had an experience with bad debt or will at some ...

On the 13th, the Financial Supervisory Service (FSS) announced in advance the four key accounting issues, target industries, and precautions and error cases to be ...

Most companies sell their products on credit, for the convenience of the buyers and to increase their own sales volume. The term bad debt refers to outstanding debt that a company considers to be ...

In a perfect world, you would be paid for the goods or services that you have provided to a customer or client — each and every time you provide them. Unfortunately, we don’t live in such a world and ...