Valuation of accounts receivables

Reference no: EM13760910

"Valuation of Accounts Receivables" Please respond to the following:

*From the e-Activity, discuss the primary advantages and disadvantages of applying the direct write-off and the allowance method of writing off accounts. Even though the direct write-off method is not acceptable for generally accepted accounting principles (GAAP) reporting, take a position on whether or not estimating the allowance for doubtful accounts distorts gross income. Propose an alternative method to increase the accuracy of reporting. Explain your rationale.
Identify at least three (3) risk factors inherent in estimating the amount of customer write-offs. Explain the procedural steps in which accountants or auditors would follow to identify where material misstatement of receivables and associated gross income has occurred. Explain your rationale.

Reference no: EM13760910

Questions Cloud

Prokaryotic and eukaryotic cells : A list describing at least three similarities between prokaryotic and eukaryotic cells.

Calculate the molarity of the solution : The density of the solution is 1.195 g/mL. an aqueous solution contains 167g CuSO4 in 820 mL of solution. calculate the molarity of the solution.

How does framework help an early childhood professional use : How does this framework help an early childhood professional use ongoing assessment results to design appropriate learning activities? Please give a specific example.

Social networking technologies : Social Networking Technologies, Purpose, To assess your ability to Accurately respond to and plan for the specific needs of an MIS project

Valuation of accounts receivables : From the e-Activity, discuss the primary advantages and disadvantages of applying the direct write-off and the allowance method of writing off accounts.

Imagine yourself in the shoes of dimitri mendeleev : Imagine yourself in the shoes of Dimitri Mendeleev. You are provided with two sets of cards that list properties of various elements. These cards resemble the cards used by Mendeleev when he grouped elements. One set of cards lists the names of known..

What would you recommend for further assessment and why : what would you recommend for further assessment and why? Please be sure to discuss the limitations of a screening instrument such as the ASQ-3 and appropriate uses of screening results.

Discuss the evolution of marketing informiation system : Discuss the evolution of marketing informiation system (MIS) and its importance to the business world.

Create a web application test plan : Create a Web application test plan based on a real-life scenario involving a Web-based business which processes credit card information, Assume that you are the network administrator for Online Goodies

User Account

All Pages