Summary Ch 8 Accounting for Receivables - Financial Accounting with International Financial Reporting Standards - FAC2

Accounting for Receivables
Chapter Number Chapter 8




Accounting for Receivables 1

, 📖 Table of Contents

Outline
8.1 Recognition of Accounts Receivable
Types of Receivables
Recognizing Accounts Receivable
8.2 Valuation and Disposition of Accounts Receivable
Valuing Accounts Receivable
Direct Write-Off Method for Uncollectible Accounts
Allowance Method for Uncollectible Accounts
Recording Estimated Uncollectibles
Estimating the Allowance
Recording the Write-Off of an Uncollectible Account
Recovery of an Uncollectible Account
Disposing of Accounts Receivable
Sale of Receivables to a Factor
National Credit Card Sales
Accounting for Credit Card Sales
8.3 Notes Receivable
Determining the Maturity Date
Computing Interest
Recognizing Notes Receivable
Valuing Notes Receivable
Disposing of Notes Receivable
Honor of Notes Receivable
Accrual of Interest Receivable
Dishonor of Notes Receivable
8.4 Presentation and Analysis
Presentation
Analysis




8.1 Recognition of Accounts Receivable
Types of Receivables
Accounts receivable are amounts customers owe on account. They result from
the sale of goods and services. Companies generally expect to collect accounts
receivable within 30 to 60 days.




Accounting for Receivables 2