Allowance for Uncollectible Accounts Definition

Below please find a definition of “Allowance for Uncollectible Accounts”

Financial Analysis Training & Glossary TermsAllowance for Uncollectible Accounts: Allowance for uncollectible accounts is also termed as allowance for doubtful accounts. Firms generally establish balance sheet accounts for offsetting unexpected bad debts. When consumers buy products or services but do not pay their bills, it is common practice for the selling company to write-off the unpaid bills as the uncollectible amount.

Free MP3 Download:  To download our free 35 minute audio interview with expert Richard C. Wilson on how to succeed in the field of finance please click here.

Fast Financial Training: If you want to take your finance or business career to the next level you should explore our financial analysis certification program, or our training programs on financial modeling, investment banking, hedge funds, or private equity. All of these programs are offered on http://BusinessTraining.com

Expand Your Financial Vocabulary: Read more finance terms and definitions

Tags:  Define allowance for uncollectible accounts, Meaning of allowance for uncollectible accounts, What is allowance for uncollectible accounts?, Allowance for uncollectible accounts definition, Allowance for uncollectible accounts examples, Allowance for uncollectible accounts entry

About Richard Wilson