Discounting of Notes receivable. Two acceptable methods exist for accounting for uncollectible accounts . Be sure that you know the difference between these methods and how to apply them. Accounting for uncollectible accounts requires estimation of expected bad debts.
Companies commonly provide incentives for customers who pay quickly.
Some notes receivable do not carry a stated interest rate. Make sure that you know how to account for non-interest bearing notes. Getting Quick Cash from Receivables. Contingent liabilities are liabilities that may or may not actually arise. Environmental Cleanup liabilities have become an important topic in recent years.