LOCM » Topics » Allowance for Doubtful Accounts

These excerpts taken from the LOCM 10-K filed Mar 30, 2009.
Allowance for Doubtful Accounts
 
Our management estimates the uncollectability of our accounts receivable for losses that may result from the inability of our customers to make required payments. Management specifically analyzes accounts receivable and historical bad debt, customer concentration, customer credit-worthiness, current economic trends and changes in customer payment terms when evaluating the adequacy of the allowance for doubtful accounts. If we believe that our customers’ financial condition has deteriorated such that it impairs their ability to make payments to us, additional allowances may be required. We review past due accounts on a monthly basis and record an allowance for doubtful accounts generally equal to any accounts receivable that are over 90 days past due.
 
As of December 31, 2008, one customer represented 65% and another customer represented 9% of our total accounts receivable. These customers have historically paid within the payment period provided for under the contract and management believes these customers will continue to do so.
 
Allowance
for Doubtful Accounts



 



Our management estimates the uncollectability of our accounts
receivable for losses that may result from the inability of our
customers to make required payments. Management specifically
analyzes accounts receivable and historical bad debt, customer
concentration, customer credit-worthiness, current economic
trends and changes in customer payment terms when evaluating the
adequacy of the allowance for doubtful accounts. If we believe
that our customers’ financial condition has deteriorated
such that it impairs their ability to make payments to us,
additional allowances may be required. We review past due
accounts on a monthly basis and record an allowance for doubtful
accounts generally equal to any accounts receivable that are
over 90 days past due.


 



As of December 31, 2008, one customer represented 65% and
another customer represented 9% of our total accounts
receivable. These customers have historically paid within the
payment period provided for under the contract and management
believes these customers will continue to do so.


 




These excerpts taken from the LOCM 10-K filed Mar 10, 2008.
Allowance for Doubtful Accounts
 
Our management estimates the uncollectability of our accounts receivable for losses that may result from the inability of our customers to make required payments. Management specifically analyzes accounts receivable and historical bad debt, customer concentration, customer credit-worthiness, current economic trends and changes in customer payment terms when evaluating the adequacy of the allowance for doubtful accounts. If we believe that our customers’ financial condition has deteriorated such that it impairs their ability to make payments to us, additional allowances may be required. We review past due accounts on a monthly basis and record an allowance for doubtful accounts generally equal to any accounts receivable that are over 90 days past due.
 
As of December 31, 2007, one customer represented 62% and another customer represented 12% of our total accounts receivable. These customers have historically paid within the payment period provided for under the contract and management believes these customers will continue to do so.
 
Allowance
for Doubtful Accounts



 



Our management estimates the uncollectability of our accounts
receivable for losses that may result from the inability of our
customers to make required payments. Management specifically
analyzes accounts receivable and historical bad debt, customer
concentration, customer credit-worthiness, current economic
trends and changes in customer payment terms when evaluating the
adequacy of the allowance for doubtful accounts. If we believe
that our customers’ financial condition has deteriorated
such that it impairs their ability to make payments to us,
additional allowances may be required. We review past due
accounts on a monthly basis and record an allowance for doubtful
accounts generally equal to any accounts receivable that are
over 90 days past due.


 



As of December 31, 2007, one customer represented 62% and
another customer represented 12% of our total accounts
receivable. These customers have historically paid within the
payment period provided for under the contract and management
believes these customers will continue to do so.


 




This excerpt taken from the LOCM 10-K filed Mar 16, 2007.
Allowance for Doubtful Accounts
 
Our management estimates the uncollectability of our accounts receivable for losses that may result from the inability of our customers to make required payments. Management specifically analyzes accounts receivable and historical bad debt, customer concentration, customer credit-worthiness, current economic trends and changes in customer payment terms when evaluating the adequacy of the allowance for doubtful accounts. If we believe that our customers’ financial condition has deteriorated such that it impairs their ability to make payments to us,


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additional allowances may be required. We review past due accounts on a monthly basis and record an allowance for doubtful accounts generally equal to any accounts receivable that are over 90 days past due.
 
As of December 31, 2006, one customer represented 52% and another customer represented 11% of our total accounts receivable. These customers have historically paid within the payment period provided for under the contract and management believes these customers will continue to do so.
 
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