ACCOUNTING FOR PROVISIONS FOR DOUBTFUL DEBTS IN THE FINANCIAL AND TAX ACCOUNTING
Journal: Science Journal "NovaInfo" (Vol.3, No. 54)Publication Date: 2016-11-16
Authors : Vovnyanko Elena Aleksandrovna;
Page : 89-92
Keywords : ACCOUNTING; DOUBTFUL DEBTS; PROVISIONS; TAX ACCOUNTING;
Abstract
In today's economy businesses, in particular accountants, have to deal with differences of accounting and taxation. In order to properly keep records of transactions that occur in the course of activity of the economic entity, it is necessary to know and take into account these differences. The procedure for the formation of allowance for doubtful accounts and accounting also has distinctive features. If they know the probability of a provision is established correctly and in a timely manner will be much higher. In turn, the creation of enterprise allowance for doubtful accounts is not only able to protect the economic subject of debt, but also to strengthen its financial stability.
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