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.
EFFECTIVENESS is producing a desired outcome. An audit procedure is effective if the evidence supports a correct conclusion.
FIXED CHARGE RATIO is calculated: total fixed costs/total expenses.
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