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Bad Debt Expense
Bad debt expense refers to the amount of a company’s receivables that are expected to be uncollectible. This is recorded as an expense on the income statement, reducing net income. It’s crucial for businesses to estimate and recognize bad debts to provide a more accurate representation of potential earnings.
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Business Valuation
The process of determining the economic value of a business, used in sales, mergers, or fundraising.
Breakage
Revenue recognized from unredeemed gift cards, vouchers, or prepaid credits that customers never use.
BAS Agent
A professional registered with the Tax Practitioners Board authorized to prepare and lodge BAS on behalf of businesses.
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