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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Irrecoverable debts & allowances
What do you mean by allowance for receivable?
Is allowance for receivable & doubtful debts means same?
The allowance for receivables (which used to be called the provision for doubtful debts) is the amount subtracted from the total receivables on the Statement of Financial Position (used to be called the Balance Sheet) in respect of those debts that are doubtful.
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