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Glossary Definition

What is an Allowance for Doubtful Accounts?

In accounting, an allowance for doubtful accounts is an approved reduction in the value of an asset, usually accounts receivable, based on an analysis from management about the likelihood of all payments being made by clients/customers.

Example: An allowance for doubtful accounts has reduced the value of our outstanding bills based on reliability of customers making payments.

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Corvee Blog

Read the latest tax planning thought leadership from Corvee.

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Tax Planning Strategies

Our team of tax experts has scoured tax rules and regulations to create detailed tax strategies you can use to find savings for your clients.

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