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Accounts receivable refers to the outstanding balance of accounts receivable at a point in time here whereas average sales per day is the mean sales computed over some period of time. This can be annual as in the formula above, or it can be any period of time considered useful to the company.
The average inventory is the average of inventory levels at the beginning and end of an accounting period, and COGS/day is calculated by dividing the total cost of goods sold per year by the number of days in the accounting period, generally 365 days. [3] This is equivalent to the 'average days to sell the inventory' which is calculated as: [4]
John Law is the focus of Rafael Sabatini's 1949 novel The Gamester. [31] John Law is referenced in Voltaire's 'Dictionnaire Philosophique', as part of the entry on reason. [32] John Law is the subject of the section entitled "Fragment d'un ancien mythologiste" in "Lettre CXLII" of Montesquieu's epistolary novel "Lettres Persanes" published in 1721.
Loan receivable is a banking term for an asset account that shows amounts owed by borrowers. The lender's ledger details all unpaid amounts from borrowers. Loans receivable are handled logically and transparently, like other accounting processes. [1] The balance sheet shows loans receivable as current assets if they are repaid within one year ...
A ledger [a] is a book or collection of accounts in which accounting transactions are recorded. Each account has: an opening or brought-forward balance; a list of transactions, each recorded as either a debit or credit in separate columns (usually with a counter-entry on another page) and an ending or closing, or carry-forward, balance.
Receivable turnover ratio or debtor's turnover ratio is an accounting measure used to measure how effective a company is in extending credit as well as collecting debts. The receivables turnover ratio is an activity ratio, measuring how efficiently a firm uses its assets .
Book of business is common parlance in the United States legal services sector and refers to the collection of clients that a lawyer (usually a partner) has assembled throughout their career. Since most U.S. law firms are organized as limited liability partnerships or professional corporations , each partner is usually responsible for acquiring ...
Bartlett rose to be the senior partner of the firm, and supervised the publication of nine additional editions prior to his death in 1905, selling over 300,000 copies. The seventh edition was published in 1875, the eighth edition in 1882, and the ninth in 1891. The 10th edition, however, did not appear for another 20 years.