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.
PREDECESSOR AUDITOR is the auditor of a client for a prior year who no longer audits that client.
AAT, in Great Britain, is Association of Accounting Technicians.
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