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Intro to the Allowance Method and Uncollectible Accounts (Financial Accounting Tutorial #41)
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So up until now we have talked about merchandise inventory and sales made on account. Well what happens when we have a sale that becomes uncollectible and a receivable that becomes impaired/not able to be collected? The allowance method is meant to be used so that we have smooth earnings and to record the correct value for receivables within our company. Its basically a method that provides conservative numbers and consistent results/smooth earnings! We'll talk about the sales method and the receivables method in later videos as they are 2 ways in which we can account for the allowance method!
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So up until now we have talked about merchandise inventory and sales made on account. Well what happens when we have a sale that becomes uncollectible and a receivable that becomes impaired/not able to be collected? The allowance method is meant to be used so that we have smooth earnings and to record the correct value for receivables within our company. Its basically a method that provides conservative numbers and consistent results/smooth earnings! We'll talk about the sales method and the receivables method in later videos as they are 2 ways in which we can account for the allowance method!
** Notepirate is privately owned and exclusive to Notepirate.com.**
Website: notepirate.com
Follow us on Facebook: facebook.com/pages/Note-Pirate/514933148520001?…
Follow us on Twitter: twitter.com/notepirate
We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites!
About this tutorial
Notepirate published this 6:10 video tutorial on October 26, 2014. It has been watched 52,590 times on YouTube.
- Channel
- Notepirate
- Category
- Education
- Duration
- 6:10
- Published
- October 26, 2014
- Views
- 52,590
- Likes
- 214
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This tutorial in other languages
- FRIntroduction à la méthode d'allocation et des comptes non recouvrables (comptabilité financière Tutorial n ° 41)
- ESIntroducción a la metodología de cuentas incobrables y Allowance (Contabilidad Financiera Tutorial # 41)
- PTIntrodução ao método e irrecuperáveis Provisão Contas (Tutorial Contabilidade Financeira nº 41)
- ITIntro all'indennità Metodo e inesigibili conti (Financial Accounting Tutorial # 41)
- DEEinführung zu dem Allowance Methode und Uneinbringlichkeit (Financial Accounting Tutorial # 41)
- NLInleiding tot de Allowance Methode en oninbare (Financial Accounting Tutorial # 41)
- RUВведение в метод и несобираемые Резерв счетов (Финансовый учет Учебник # 41)
- PLIntro do Konta Uprawnień Metoda i nieściągalne (samouczek Rachunkowość finansowa nr 41)
- JA手当の方法や回収不能勘定（財務会計チュートリアル＃41）へのイントロ
- ARمقدمة إلى أسلوب وغير قابلة للتحصيل الحسابات بدل (المحاسبة المالية تعليمي رقم 41)
- HIभत्ता विधि और uncollectible खातों में परिचय (वित्तीय लेखा ट्यूटोरियल # 41)
- IDIntro ke Penyisihan Metode dan Piutang Tak Tertagih (Akuntansi Keuangan Tutorial # 41)