allowance account


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Related to allowance account: Allowance for Doubtful Accounts, Bad Debt Expense
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Noun1.allowance account - a reserve fund created by a charge against profits in order to provide for changes in the value of a company's assetsallowance account - a reserve fund created by a charge against profits in order to provide for changes in the value of a company's assets
reserve account, reserve fund - funds taken out of earnings to provide for anticipated future payments
References in periodicals archive ?
However, the loan loss allowance account is included in the numerator that calculates a credit union's risk based capital ratio, Fazio said, so it would be counted toward the ratio.
amount of the allowance account are recognized in the statement of
The deferred tax asset for net operating losses in foreign jurisdictions and the related valuation allowance account are explained by the instructor, as well as the note indicating that the company has not provided for deferred income taxes for undistributed earnings of foreign subsidiaries.
Maynard stole the money in 2009 from the patient needs allowance account at West Side House of Worcester at 35 Fruit St.
Mrs Moon was heavily criticised when it emerged last week she spent more than pounds 4,000 on fixtures and fittings at South Wales stores, which were then delivered to her Porthcawl address on her second homes allowance account.
The Leader's Allowance Account - set up to receive the Fianna Fail party leader's allowance from the state - was maintained in the joint names of Mr Haughey, Mr Ahern and Ray MacSharry.
The valuation allowance account might contain forward-looking information on the management's estimates of a firm's future income.
For example, WorldCom recorded millions of dollars in expenses in asset accounts without audit detection, and Healthsouth created income by manipulating its contractual allowance account.
We discussed these issues with SBA's auditors, who have since reassessed the unusual balance in the subsidy allowance account and withdrawn their unqualified audit opinions on the fiscal year 2000 and 2001 financial statements.
Valuation allowance account is a balance sheet account, similar to the allowance for doubtful accounts, used to adjust a deferred tax asset to its net realizable value.
Further, building up the loan-loss allowance account during good times and using part of the increase to absorb losses during economic downturns is not necessarily manipulating income from a regulatory perspective.

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