general & specific provision

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:32AM in AAT student discussion
Hi

I am just looking at bad and doubtful debts. Can anyone help me understand the difference between general and specific provisions?!

Thanks

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:general & specific provision

    General provision would be a percentage of debts that could go bad but specific is the actual debt of aBC co which has gone into administration and you know you are not going to get the money.

    Annette
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:general & specific provision

    thank you annette

Categories

Privacy Policy