There are a number of accounting issues related to debt that the accountant is likely to face. For example, how should one account for the early retirement of debt, a change in the terms of a debt agreement, the presence of a discount or premium on the... 

Revenue adjustments include sales returns, sales allowances, sales incentives, discounts, and bad debts. Warranties and guarantees may be treated either as future revenue or as “aftercosts”, depending on the circumstances; costs related to product... 

Loan impairment arises when it is probable that the creditor may not be able to collect all of the principal and interest due on a loan. What is accounting treatment for loan impairment? What entries should be made? This post provides the answers. Enjoy!   Loan...