Uncollectible Accounts

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Created by:	Antonia Musto, Janet Stochla, Miriam Musto,and Michael Kolinovsky

Contents

This web page is concerning the issues of the uncollectible accounts portion of accounts receivables. Included are some web sites that are helpful in collecting over-due receivables and also informational web sites we have found to help anyone better understand this topic.

INFORMATIONAL LINKS

Financial Slide Show: slide show that presents financial accounting.

ACCOUNTS RECEIVABLES: a web site that is very helpful in explaining information about the receivables system.

Cash and A/R Slide Show: Another neat slide show

Business and Accounting Search Engine: A great search engine for financial, accounting and business sites

International Finance: An international finance site that deals with a wide variety of accounting issues. Also, touches Uncollectible accounts and the GAAP procedures for accounts receivables and the “unsure” portion of money collections.

E-Debt Exchange, Inc. : Informational site about debt. There are FAQ’s and all sorts of information about receivables and debt.

Adjusting for Bad Debts: a Quicken site that has information on bad debts and receivables.

Links for Collections of Receivables

The Cash Doctor: Agency that aids the medical professionals in resolving uncollected accounts.

Judgment Day Information Services, Inc.: Collection agency.

National Revenue: This site offers many different services to help companies with the collection process. Services include: collection, research and analysis of existing accounts as well as possible changes to be made in the future.

Rate Schedule Collection Agency: This is a collection agency that will handle the collections of outstanding accounts for your company. A rate schedule is included.

Conclusion:

Our research has shown that there are multiple methods in which a company can account for Uncollectible accounts: the allowance method and the direct write off method. The allowance method provides the most accurate matching of revenues to expenses in the financial statements. Of the two methods to estimate allowance; the percentage of receivables is most accurate in stating the net realizable value on the balance sheet as well as determining the bad debt expense to be recognized on the income statement.

Any company experiencing difficulty in collecting cash from outstanding accounts can seek help from the many collection agencies available. We found many sites on the web that offer services to assist companies with collections or evaluate their procedures to avoid future problems.

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Last revised: 12/02/00

	Contents
		This web page is concerning the issues of the uncollectible accounts portion of accounts receivables. Included are some web sites that are helpful in collecting over-due receivables and also informational web sites we have found to help anyone better understand this topic.

	INFORMATIONAL LINKS
		Financial Slide Show: slide show that presents financial accounting.
		ACCOUNTS RECEIVABLES: a web site that is very helpful in explaining information about the receivables system.
		Cash and A/R Slide Show: Another neat slide show
		Business and Accounting Search Engine: A great search engine for financial, accounting and business sites
		International Finance: An international finance site that deals with a wide variety of accounting issues. Also, touches Uncollectible accounts and the GAAP procedures for accounts receivables and the “unsure” portion of money collections.
		E-Debt Exchange, Inc. : Informational site about debt. There are FAQ’s and all sorts of information about receivables and debt.
		Adjusting for Bad Debts: a Quicken site that has information on bad debts and receivables.

	Links for Collections of Receivables
		The Cash Doctor: Agency that aids the medical professionals in resolving uncollected accounts.
		Judgment Day Information Services, Inc.: Collection agency.
		National Revenue: This site offers many different services to help companies with the collection process. Services include: collection, research and analysis of existing accounts as well as possible changes to be made in the future.
		Rate Schedule Collection Agency: This is a collection agency that will handle the collections of outstanding accounts for your company. A rate schedule is included.

	Conclusion:
		Our research has shown that there are multiple methods in which a company can account for Uncollectible accounts: the allowance method and the direct write off method. The allowance method provides the most accurate matching of revenues to expenses in the financial statements. Of the two methods to estimate allowance; the percentage of receivables is most accurate in stating the net realizable value on the balance sheet as well as determining the bad debt expense to be recognized on the income statement.
		Any company experiencing difficulty in collecting cash from outstanding accounts can seek help from the many collection agencies available. We found many sites on the web that offer services to assist companies with collections or evaluate their procedures to avoid future problems.

Back to top