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Allowance for doubtfulaccounts (ADA) is a financial metric that estimates the value of rendered services or goods sold that you don’t expect to get paid for. Essentially, it’s a tool used in accrual accounting as a way of tracking bad debt up front with the end goal of maintaining more accurate financial statements.
The introduction of AI has also enhanced fraud detection and risk management, allowing financial institutions to identify potential defaults and fraudulent activities more effectively. Risk Mitigation: Proactive identification and management of potential credit risks reduce the likelihood of defaults and financial losses.
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