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Basic Accounting Knowledge: Discounts And Allowances

2010/12/22 15:44:00 33

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In short, discount and discount are the price concessions made by the seller to the buyer, but the reasons and forms of discount and discount are different from those of accounting.

Discount?

In the new accounting standards, discounts are divided into cash discounts and commercial discounts.

Cash discount is the creditor's desire to encourage debtors.

Regulations

The debtor can pay less in the period of payment and deduct from the debt provided to the debtor.

The discount is charged to the current financial expense when it occurs.

Business discount refers to the deduction of the price given by the enterprise to promote the sale of goods, such as the buyer's large purchase.

The discount is directly deducted from the income and does not require special accounting treatment.

In terms of discount, the initiative of the seller is generally greater.

Allowance

Discount means sales discount, which means the quality of goods sold by enterprises is not.

qualified

Concessions given on price for other reasons.

According to the relevant provisions of the new guidelines, the discount generally reduces the sales revenue of the current period when it occurs, but if the sales discount falls on the balance sheet date, it should be dealt with in accordance with the relevant provisions of the balance sheet date.

The concession of such price concession is a kind of seller.

passive

Concession, the buyer's initiative is generally greater, and the degree of concession is determined by the two sides according to the actual situation.

When negotiation is fruitless, sales returns often occur.