A percentage of accounts receivable will become uncollectible for a myriad of reasons, requiring a periodic write-off of receivables. Whether the allowance for doubtful accounts or the direct write off method are used, an uncollectible accounts expense must be recorded to remain compliant with U.S. GAAP. Below are details regarding this expense, and how it …
When making managerial decisions about overhead expenses, sales growth, profitability and a myriad of operational objectives, incomes statement analysis is needed. A high level of detail is useful when reviewing operations, which is why the multi-step income statement is utilized. Expense line items are detailed making it possible to gauge operations effectively. Overview The multi …
When a company borrows money, they must pay interest and record the expense accurately to reflect the costs of borrowing. Calculating interest expense can be straightforward, if the note payable has a stated interest rate or coupon. However, the process can become difficult to account for, given the nature of the debt instrument and related …
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