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About Allowance and Irrecoverable Debts

This topic has 1 reply, 2 voices, and was last updated 8 years ago by John Moffat.

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February 20, 2017 at 6:21 pm #373398
owenross
Member
- Topics: 4
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Greetings,
Can someone please explain to me how allowance and Irrecoverable Debts work?
On my understanding, Irrecoverable debt is when you can’t get the receivables forever?, and for Allowance, It is to point out to the business that there is still hope that the person may pay half the outstanding amount or fully?
Thank you in advance.
February 21, 2017 at 1:23 pm #373481
John Moffat
Keymaster
- Topics: 57
- Replies: 54571
You need to watch my free lectures on this – it is explained there in full.
The lectures are a complete free course for Paper F3 and cover everything needed to be able to pass the exam well.
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