The allowance method is required by companies that comply with generally accepted accounting principles. The method is used to estimate and accrue to the general ledger the financial risk of customer ...

Bad debt is an unfortunate reality of running a business. A bad debt is money owed to your company that you decide is not collectable. The two most common methods you can use to write off bad debt are ...

Taxpayers who are adopting the rules for sales-based royalties and vendor allowances under Sec. 263A and Sec. 471 provided in T.D. 9652 were given new procedures for obtaining automatic consent to ...