Pure accounting

We can give our head that practically there are no such cases in accounting like in today’s comic. Anthony considers a purely theoretical situation. Rough accounting is a recommended procedure. Even things that seem to have been perfectly calculated (e.g. write-down to inventories, write-down receivables), it is worth make an interim entry first. Only when we can have an independent check that the calculation makes sense, we can make a final entry.

Tags: how to calculate provision impairment charges inventory provision

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