GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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16:22 May 1, 2022 |
Swedish to English translations [PRO] Bus/Financial - Accounting / Annual report | |||||||
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| Selected response from: Adrian MM. Austria | ||||||
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3 | use (up) loss/es ; include a tax loss |
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Summary of reference entries provided | |||
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bad debt allowance, funds, charged to bad debt |
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Discussion entries: 1 | |
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ta underskott use (up) loss/es ; include a tax loss Explanation: > för att säkerställa att tillräckligt med underskott tas för icke återvinningsbara belopp > to BrE: ensure US AmE NB: insure that sufficient allowable tax loss(es) is / are used (included) for {Tomasso: charged to bad debts} -> literally non-recoupable (unrecoupable) amounts > despite having been written-off by the corp. vs. clawed by the IRS / the Revenue. -------------------------------------------------- Note added at 3 hrs (2022-05-01 20:07:09 GMT) -------------------------------------------------- vs. clawed *back* by the IRS / the Revenue. Example sentence(s):
Reference: http://iate.europa.eu/search/result/1651434395594/1 Reference: http://www.proz.com/kudoz/swedish-to-english/finance-general... |
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3 hrs |
Reference: bad debt allowance, funds, charged to bad debt Reference information: years ago, and pobably now, part of each comercial loand was part of a system of BAD DEBT funds, at the local bank and also BAD Debt Funds at regional Federal Banks. patriot software// Allowance method With the allowance method, you predict that you won’t receive payment for credit sales from all your customers. As a result, you debit bad debts expense and credit allowance for doubtful accounts. When there is a bad debt, you will credit accounts receivable and debit allowance for doubtful accounts. You can use your bad debt rate from previous years to determine the amount to set aside for your bad debt reserve. For example, last year you brought in $30,000, but you sold $40,000 worth of goods. Under the allowance method, you could predict 25% of your profits will be bad debts. investopedia///Debt that cannot be recovered or collected from a debtor is bad debt. Under the provision or allowance method of accounting, businesses credit the "Accounts Receivable" category on the balance sheet by the amount of the uncollected debt. A debit entry for the same amount is entered into the "Allowance for Doubtful Accounts" column to balance the balance sheet. This process is called writing off bad debt. Under the direct write-off method, bad debts are expensed. The company credits the accounts receivable account on the balance sheet and debits the bad debt expense account on the income statement. Under this form of accounting, there is no "Allowance for Doubtful Accounts" section on the balance sheet. Example sentence(s):
https://www.patriotsoftware.com/blog/accounting/how-write-off-bad-debt-expense-effects/#:~:text=With%20the%20allowance%20method%2C%20you,deb https://www.investopedia.com/ask/answers/070815/why-do-banks-write-bad-debt.asp |
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