UNCOLLECTIBLE ACCOUNT EXPENSE Definition

Bookmark and Share

UNCOLLECTIBLE ACCOUNT EXPENSE, also known as a bad-debt expense, is that expense incurred in the unsuccessful attempt to realize payment of a Account Receivable. Uncollectible account expenses must be incurred in the time period in which the related sales are made, e.g. an AR that originates from a credit sale in January and is determined to be uncollectible in June represents an expense in January.

Learn new Accounting Terms

P as the fifth letter in a Nasdaq stock symbol indicates that the issue is first class of preferred shares in the company.

ASSET REVERSION is asset recovery by the sponsoring employer through termination of a defined benefit pension fund and/or of assets in excess of amounts required to pay accrued benefits of a pension fund. In the U.S., assets recovered through reversion are subject to corporate income tax and an excise tax.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.