final accounts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 October 2010
please any one tell me the difference between provision for bad debts and reserve for bad debts?
11 October 2010
Hi
Provision for bad debt, reserve for doubtful debts or allowance for doubtful accounts are all the same. It's a contra account created for accounts receivable that is due but not yet paid. If the receivable has been long overdue, it may be written off, depending on company's policies how long before receivables could be written off.
Great Answer Not Helpful Report
Regards
Provision for bad debt, reserve for doubtful debts or allowance for doubtful accounts are all the same. It's a contra account created for accounts receivable that is due but not yet paid. If the receivable has been long overdue, it may be written off, depending on company's policies how long before receivables could be written off.
Great Answer Not Helpful Report
Regards
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- REGARDING ITR FILING QUESTION
- Requirement under FEMA &RBI
- CLOSING STOCK QUERY
- Gst reverse charge mechanism to be claimed in the month of payment
- Taxation on Old jewellery sold
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- F&O reporting in ITR
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Residential status of non resident
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
