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ACCOUNTS
II. Functioning of accounts
Class 6. Expenses

65. Other operating expenses

 

Bad debt write-offs, that are usual in comparison to the nature of the activity or the volume of business done, are recorded as a debit to account 654 " Bad debt write-offs ".

Account 655 " Share of profit or loss from joint ventures " is debited with:

  • the share of loss from joint ventures, which represents the non-managing entity's share of the losses. The counterpart is credited to account 458 " Partners - Joint ventures and Economic Interest Grouping (E.I.G) ";

  • the share of profits from joint ventures, which represents for the managing entity the amount of profits distributed to the non-managing partners. The counterpart is credited to account 458.

Foreign exchange losses on trade receivables and payables are debited to account 656 " Foreign exchange losses on trade receivables and payables ".

 

 
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