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Discuss the legal provisions in the Corporations Act relating to dividends.
Expense Recognition Principle
An accounting principle that dictates the conditions under which an expense is recognized and reported in the financial statements.
Percent of Receivables Method
An accounting technique used to estimate the amount of a company's accounts receivable that will not be collected, based on a percentage of the total accounts receivable.
Perpetual Inventory System
This is an accounting method that continuously updates inventory records for each sale or purchase of inventory.
Allowance for Doubtful Accounts
A contra-account that reduces the total receivables reported on the balance sheet to reflect the amount expected to be collected.
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