Receivables
Barron's Accounting Dictionary:
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Receivables
Claims held against customers and others for money, goods, or services. If collection is expected in one year or less (or in the normal operating cycle of the business if longer), they are classified as current assets. If not, they are presented as noncurrent assets.
Receivables are further classified in the balance sheet as trade or nontrade.
Trade receivables are due from customers for merchandise sold or services performed in the ordinary course of business. Trade receivables may either be accounts receivable or notes receivable. Nontrade receivables come into being from other types of transactions and may he written promises to pay monies or deliver services. Examples are advances to employees, claims against other entities (i.e., tax refunds, insurance receipts), deposits, and financial receivables (i.e., interest receivable, dividend receivable).
Receivables are further classified in the balance sheet as trade or nontrade.
Trade receivables are due from customers for merchandise sold or services performed in the ordinary course of business. Trade receivables may either be accounts receivable or notes receivable. Nontrade receivables come into being from other types of transactions and may he written promises to pay monies or deliver services. Examples are advances to employees, claims against other entities (i.e., tax refunds, insurance receipts), deposits, and financial receivables (i.e., interest receivable, dividend receivable).
| Receipts, Recapture of Depreciation, Recapitalization | |
| Receiving Report, Recession, Reciprocal |
Investopedia Financial Dictionary:
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Receivables
An asset designation applicable to all debts, unsettled transactions or other monetary obligations owed to a company by its debtors or customers. Receivables are recorded by a company's accountants and reported on the balance sheet, and they include all debts owed to the company, even if the debts are not currently due.
Investopedia Says:
Receivables are recorded as an asset by the company because it expects to receive payment for the outstanding amounts soon. Long-term receivables, which do not come due for a significant length of time, are recorded as long-term assets on the balance sheet; most short-term receivables are considered part of a company's current assets.
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Word Tutor:
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receivables
IN BRIEF: n. - Money that you currently expect to obtain from notes or accounts.
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Barron's Accounting Dictionary
Dictionary of Accounting Terms. Copyright © 2010 by Barron's Educational Series, Inc. All rights reserved.
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Investopedia Financial Dictionary
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Mentioned in
End of Month
(business term)
Receivables Financing
(in banking)
Receivables Turnover
(business term)
Exchange Gain (LOSS)
(in accounting)
Quick Asset
(business term)
» More