The PDF files allow us to download reference information we can use offline and as a guide to help us work through the material.Įxcel practice files will be preformatted so that we can focus on the adjusting process and learning some of the basics of Excel, like addition, subtraction, and cell relationships. In addition to instructional video, this course will include downloadable We will cover detailed methods for calculating simple interest. We will also discuss notes receivable, the journal entry for recording notes receivable, and for receiving payment on a note receivable. The allowance method is more complex, however, and requires the use of estimates. The allowance method does a better job of valuing accounts receivable and conforming to the matching principle and is the method preferred. The direct write off method does not do a good job of representing the accounts receivable account's true value and does not do a good job of conforming to the matching principle, matching up expenses with the related revenue it was used to generate. Under the direct write off method, we write off the accounts receivable as we determine they are not collectible. The accounts receivable account represents money owed to the company but there will be times when the company cannot collect on the account receivables. We will discuss bad debt and valuing of accounts receivable using two methods, the allowance method and the direct write off method. We will discuss receivables, focusing on accounts receivable and notes receivable, reviewing the accounts receivable cycle, the journal entries for recording accounts receivable, and related subsidiary ledgers.
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