Student are required to find and use the CPA Handbook to review the recommended handling of uncollectible account with regard to Accounts Receivable. Specifically, on page 419 of our textbook, a description of the percentage of receivables method is given. The purpose of this assignment is to research the prescribed handling of uncollectible accounts in the CPA Handbook. Your research of this topic in the Handbook should:
Confirm the specific instructions found in the text regarding application of the percentage of receivables method;
Determine if the Handbook permitsalternative treatment than found in the textbook, or;
Show that the Handbook does not address the topic of uncollectible accounts.
The quality of your response will depend on specific referencesto the Handbook(i.e. paragraph reference numbers)to support your analysis and conclusion (i.e. one of the three conclusions above). The length of your submission should be no less than two pages and no more than five (double spaced).
Several weeks are allowed to complete this assignment (due no later than December 4).
The CPA Handbook is a Humber College provided resource and can be found online. To access the Handbook browse the Humber“Database List” and search for “CPACanada Standards and Guidance Collection”. You are permitted to limit your search to “Part II – Accounting Standards for Private Enterprises” (under “Accounting” section). That is, you are not required to search the “IFRS Standards”.
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