non trade receivable arise from a variety of transaction ..some examples
1.advance to officers and employees
2.advance to subsidiaries
3.deposite paid to cover potential damages or losses
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Current assets
it is current, if the account has not been paid and is past due after 30 days, it goes into collections. There is no such thing as a non-current accounts receivable.
the schedule of accounts receivable shows
the schedule of accounts receivable shows
It is basically deducting the allowance for doubtful accounts from the total accounts receivable.
Current assets
it is current, if the account has not been paid and is past due after 30 days, it goes into collections. There is no such thing as a non-current accounts receivable.
Accruals are accounts on a balance sheet that represent liabilities and non-cash-based assets. These accounts include Accounts Payable, accounts receivable, goodwill and future tax liability.
the schedule of accounts receivable shows
the schedule of accounts receivable shows
the formula of calculating account receivable turnover = Net Sales/ average gross receivable
It is basically deducting the allowance for doubtful accounts from the total accounts receivable.
Factors provide financing on accounts receivable by discounting accounts receivable on a non-recourse basis. Upon buying the accounts, the factor assumes the position of the seller--including the risk of default and credit losses
For calculating accounts receivable balance we need accounts receivable turnover rate So Accounts receivable turnover rate = number of days in year/annual sales outstanding accounts receivable turnover rate = 360/40 = 9 Accounts receivable balance = 7300000/9 Accounts receivable balance = 811111
Net Sales / Average Accounts Receivable = Account Receivable Turnover
Because accounts receivable is that amount which is receivable from customer due to sales of goods on credit.
Accounts receivable is money that was owed to you being paid/