[Asia Economy Reporter Minwoo Lee] Recent measures by financial authorities instructing commercial banks to increase their loan loss reserves are analyzed to have little accounting impact. Unlike loan ...

It's a sad but inevitable fact of business that occasionally a deadbeat customer won't pay a bill. As a business owner, you record and track in accounts receivable, or A/R, the money owed you for ...

Reading the financial statements of a business helps with evaluating financial strength and stability. The balance sheet shows the financial condition of the business at a specific point in time.

Court ruled that writing off bad debts in balance sheet and profit and loss account is sufficient under Section 36(1)(vii), clarifying that closing each debtor’s ledger account is ...