Provision for Doubtful Debts

However cautious a business maybe, there will be some debtors regarding whom there is no certainty whether they will pay or not. So there is an element of doubt related to...

Difference between Bad and Doubtful Debts

Credit Sales are a normal phenomenon in a business and with the credit sales, there are bound to be Debtors. Now the Debtors bring with them the component of risk factor...

Bad Debts and Bad Debts Recovery: How to do the accounting?

Credit sales are a normal phenomenon of any business and we all know that an element of risk is associated with credit sales. No matter how careful the business owner is...

Reserves and Provisions

Provision   The word 'Provision' is used to denote an amount written off against or set aside out of profits. It is created to provide for a known liability the amount of which...

Bank Reconciliation Statement (BRS)

What is Bank Reconciliation Statement?Bank Reconciliation Statement is a statement prepared to reconcile and explain the causes of disagreement between the bank balance as per cash book and the same as...

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