TAILIEUCHUNG - Lecture Accounting principles – Chapter 8: Accounting for receivables

In this chapter students will be able to: Record accounts receivable transactions; calculate the net realizable value of accounts receivable and account for bad debts; account for notes receivable; demonstrate the presentation, analysis and management of receivables. | Accounting for Receivables Accounts receivable Recognition and valuation Notes receivable Recognition and disposition Statement presentation and management of receivables Presentation Analysis Accelerating cash receipts from receivables Copyright John Wiley & Sons Canada, Ltd. 2 CHAPTER 8: Accounting for Receivables Record accounts receivable transactions. Calculate the net realizable value of accounts receivable and account for bad debts. Account for notes receivable. Demonstrate the presentation, analysis and management of receivables. Copyright John Wiley & Sons Canada, Ltd. 3 Types of Receivables Amounts due from individuals and other companies Accounts receivable: Amounts owed by customers on account Expected to be collected within 30 days Notes receivable: Supported by formal instruments of credit (a written note) For periods of 30 days or longer Interest bearing Copyright John Wiley & Sons Canada, Ltd. 4 Recognizing Accounts Receivable A receivable is recorded when: Services are provided Merchandise is sold on account Copyright John Wiley & Sons Canada, Ltd. 5 Subsidiary Accounts Receivable Ledger Used to track individual customer accounts Each entry is effectively posted twice: To the subsidiary ledger To the general ledger in summary form Copyright John Wiley & Sons Canada, Ltd. 6 Interest Revenue If a customer does not pay in full within a specified period, financing charges (interest) is added to the balance due Recognized as interest revenue Copyright John Wiley & Sons Canada, Ltd. 7 Nonbank Credit Card Sales Nonbank credit card sales are treated as sales on account Unlike bank credit card sales - treated as cash sales Receipt of cash from nonbank credit cards is recorded as follows Copyright John Wiley & Sons Canada, Ltd. 8 CHAPTER 8: Accounting for Receivables Record accounts receivable transactions. Calculate the net realizable value of accounts receivable and account for bad debts. Account for notes receivable. Demonstrate the presentation, analysis

• Kế toán - Kiểm toán
• Accounting principles
• Lecture Accounting principles
• Financial reporting
• Accounting for receivables
• Notes receivable
• Statement presentation
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Accounting information systems
• Fundamental system principles
• Technology based accounting systems
• Accounting information
• Financial accounting
• Managerial accounting
• Managerial cost
• Reporting manufacturing activities
• Merchandising operations
• Accounting cycle
• Completing the accounting cycle
• Classified balance sheet
• Accounting for partnerships
• Partnership form of organization
• Basic partnership accounting