Provision for bad and doubtful debts, Cost Accounting

A provision must be made in advance for those debts whose recovery is uncertain and to writing off bad debts. Each enterprise, depends on their past experience, make a provision for doubtful debts to meet that a loss while it happens. It is done for the reason of reflecting the debtors in the balance sheet at their true value. Provisions for doubtful and bad debts appear on the debit side of the profit and loss account and at the credit side of the provision for bad debts account.

Posted Date: 4/4/2013 1:56:57 AM | Location : United States







Related Discussions:- Provision for bad and doubtful debts, Assignment Help, Ask Question on Provision for bad and doubtful debts, Get Answer, Expert's Help, Provision for bad and doubtful debts Discussions

Write discussion on Provision for bad and doubtful debts
Your posts are moderated
Related Questions
High-Low method of cost estimation and Number of Photocopies as the cost driver, what would be the resulting cost equation for Maintenance Costs?


Morrow Company applies overhead based on direct labor hours. At the beginning of the year, Morrow estimates overhead to be $620,000, machine hours to be 180,000, and direct labor h

how marginal cost of a product is determined?

Determine why  JIT, TQM and AMTs may not always be entirely compatible with  the practice of standard costing.

Describe the information about cost sheets? Ans) Cost sheet having of the direct and indirect expenses acquired in producing a given product and classifying the expenses acquire

Tony Allan Inc is a small manufacturer of metal products in Toronto.  The company rents its factory building.  It uses a job order costing system because it has a wide variety of p

These balances for a company x Raw materials $40,000 Work in process $30,000 Finished goods $60,000 for the current year the company estimated that it would work 150.000 mach

You have just been assigned to replace the current Project Manager for a very important project.  You were provided a WBS for the project planning that had already been conducted,

what is cost audit? types of cost audit explain