The Federal Accounting Standards Advisory Board staff has released a technical bulletin in an effort to clarify the loss allowance standards for accounts receivable and related recognition standards ...

Sometimes your customers or clients just don't pay what they owe. You will need to allow for or write off unpaid accounts receivable, and you need accurate records for taxes and financial statements.

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 ...

The disclosures required by the amendments are similar, but not identical, to those required by IFRS 7, Financial Instruments: Disclosures. However, the scope of IFRS 7 includes all financial ...

Accounts receivable are future cash inflows but not guaranteed income. High receivables may signal lax credit practices; low levels could mean uncompetitive terms. The accounts receivable turnover ...

Greg DePersio has 13+ years of professional experience in sales and SEO and 3+ years as a writer and editor. Dr. JeFreda R. Brown is a financial consultant, Certified Financial Education Instructor, ...