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Accounts receivable represents money owed by entities to the firm on the sale of products or services on credit. In most business entities, accounts receivable is typically executed by generating an invoice and either mailing or electronically delivering it to the customer, who, in turn, must pay it within an established timeframe, called credit terms [citation needed] or payment terms.
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.
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 .
Accounts receivable, trade, less allowances for doubtful accounts $254 (2007,$193) 10,156 9,444 Inventories (Note 4) 5,473 5,110 Deferred taxes on income 2,584 2,609 Prepaid expenses and other receivables 3,578 3,467 Total current assets 36,590 29,945
Accounts receivable, accounts payable, Double-entry accounting, Small Business Accounting, Multi-currency in Global versions, automatic bank feeds and downloads, standard business reporting, management reporting, Payroll, incorporated credit card and bank-to-bank Payments, inventory items, expense management Web-based QuickBooks Pro/Premier
When a sale is made on account, revenue is recorded along with account receivable. [7] Because there is an inherent risk that clients might default on payment, accounts receivable have to be recorded at net realizable value. The portion of the account receivable that is estimated to be not collectible is set aside in a contra-asset account ...
Accounts receivable, net (including $294,700 and $274,846 Accounts receivable of consolidated joint ventures, net) ...
A former Treasury official likened it to a business "eliminating your entire accounts receivable department," adding, "No business would say we have no interest in collecting the revenue that's ...
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