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Analysis of Bad Debts
Allowance for doubtful accounts receivable (bad debts) is a contra account which reduce the balance of the company's gross accounts receivable.The relationship between the allowance and the balance in receivables should be relatively constant unless there is a change in the economy overall or a change in customer base.
Allowance for Doubtful Accounts Receivable
|May 27, 2018||May 28, 2017||May 29, 2016||May 31, 2015||May 25, 2014||May 26, 2013|
|Selected Financial Data (USD $ in thousands)|
|Allowance for doubtful accounts|
|Allowance as a percentage of receivables, customers1||%||%||%||%||%||%|
Source: Based on data from General Mills Inc. Annual Reports
1 Allowance as a percentage of receivables, customers = 100 × Allowance for doubtful accounts ÷ Receivables, customers
= 100 × ÷ = %
|Allowance as a percentage of receivables, customers||Allowance for doubtful accounts divided by the gross accounts receivable.||General Mills Inc.'s allowance as a percentage of receivables, customers declined from 2016 to 2017 and from 2017 to 2018.|