Chapter 7 - Receivables Flashcards

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Vocabulary flashcards covering account codes, terms, and foreign currency accounting rules for receivables.

Last updated 6:59 PM on 8/25/26
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13 Terms

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Receivables

The money others owe to the company.

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Account 29

Amounts receivable after more than one year.

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Account 40/41

Amounts receivable within one year.

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Account 400

Trade debtors.

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Account 404

Revenues receivable under trade debtors within one year.

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Account 406

Advance payments under trade debtors within one year.

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Account 407

Doubtful debtors under trade debtors within one year.

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Account 409

Amounts written off (-) under trade debtors within one year.

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Account 411

VAT to reclaim.

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Account 418

Cash guarantees.

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Accounts 655/755

Results from the conversion of foreign currencies, recorded at the balance sheet date.

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Accounts 654/754

Exchange results, recorded at the payment date.

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Specific write-down method

An accounting method used to record estimated losses on the collectability of doubtful debtors.