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Unformatted text preview: approximates physical flow of goods? FIFO Types of receivables:-amounts due from individual and other companies that are expected to be collected in cash-2 accounting issues: Recognize accounts receivable Valuing accounts receivable 1. Direct Write off (theoretically undesirable, no matching, receivable not stated at net realizable value) 2. Allowance method (better matching, receivable stated at net realizable value) Uncollectible accounts receivable-sales on account raise the possibility of accounts not being collected LOOK AT THE SLIDES ON MOODLE...
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This note was uploaded on 01/19/2012 for the course ACCT 2000 taught by Professor Holmes during the Fall '08 term at LSU.
- Fall '08