specific charge-off method

specific charge-off method definition - business

specific charge-off method

An accounting procedure for deducting credit losses in which debts deemed wholly or partially worthless are charged off against income reported in the same tax period. This method of accounting for uncollectible debts contrasts with accumulating a reserve for bad debts.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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