In contrast to cash basis accounting, accrual basis accounting permits businesses to record sales made on credit as revenue as long as they meet certain conditions. First, the transaction that ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Thomas J. Brock is a CFA and CPA with ...

When a business operates by making sales on credit, it faces the risk that it will not be able to collect on some of the obligations. While it is easy to identify an uncollectible receivable as a ...

Calculating estimates of the collectibility of accounts receivable and auditing those estimates is difficult. This article describes three techniques for assessing allowance for doubtful accounts ...

Greg DePersio has 13+ years of professional experience in sales and SEO and 3+ years as a writer and editor. Dr. JeFreda R. Brown is a financial consultant, Certified Financial Education Instructor, ...