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In 100 to 150 words, explain the following: Why is the direct write-off method not permitted under GAAP or IFRS? Why is the allowance method,
In 100 to 150 words, explain the following:
- Why is the direct write-off method not permitted under GAAP or IFRS?
- Why is the allowance method, which is neither simple nor apparently more logical and relies largely on estimates rather than known events, approved under both sets of standards?
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Financial Accounting
Authors: Thomas Dyckman, Robert Magee, Glenn Pfeiffer
3rd Edition
1934319600, 978-1934319604
