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Bad-debt
Bad debt is a money owed to a business that is unlikely to be collected, usually from customers who can’t or won’t pay. It’s written off as an expense and reduces accounts receivable. Recognizing bad debt helps present a more accurate picture of expected income and financial health.
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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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