ALLOWANCE FOR NOTES RECEIVABLE LOSSES is an account maintained at a level considered adequate to provide for probable losses. The provision is increased by amounts charged to earnings and reduced by net charge-offs. The level of allowance is based on management's evaluation of the portfolio, which takes into account prevailing and anticipated business and economic conditions and the net realizable value of securities held.
IAS see INTERNATIONAL ACCOUNTING STANDARDS.
ARREARS is an unpaid overdue debt, or the state of being behind in payments, e.g. an account in arrears.
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