In accounting, confusion sometimes arises when working between accounts payable and receivable. The two types of accounts are very similar in the way they are recorded but it is important to differentiate between accounts payable and receivable because one of them is an asset account and the other is a liability account. Mixing the two up can result in a lack of because in your accounting equation, which carries over into your basic financial statements. This course will show you exactly how to account for and manage receivables and payables for your organization. By the end of this workshop, participants will learn;
- How to make known liabilities, estimate warranty liabilities and plan for the contingent liabilities that result from legal issues
- The main techniques for how to calculate a bad debt provision amount based on a company’s history
- Receivables and payables are essential tasks of any accounting desk, so learning how to understand and manage them is an absolute must for any aspiring accountants
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