外文翻译:应收账款(张从改)(7页DOC).docx
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1、最新资料推荐河北科技师范学院毕业论文文献综述题 目:应收账款完 成 人:张从改指 导 教 师:毛久智学 院:财经学院专业、班 级:财务会计教育专业0805班学 号:0751080536完 成 时 间:2009年12月18日 最新精品资料整理推荐,更新于二二年十二月二十七日2020年12月27日星期日19:16:06Accounts ReceivableAuthor: M. Elizabeth Haywood, Donald.Introduction Accounts receivable consists of monies due from customers as a result of
2、an organizations normal business operations. The management of accounts receivable is an extremely important function since the collection of outstanding receivables represents the single most important source of cash for all organizations selling goods on open account. Because of the impact that ac
3、counts-receivable collections have on cash flow, it is important that responsibility for the day-to-day management of credit and collections activities be delegated to a single individual within the organization. Accounts Receivable as a Current Asset On the balance sheet, accounts receivable is rep
4、orted as a current asset and is considered part of an organizations working capital. As a current asset, accounts receivable is expected to be turned into cash within the annual operating cycle of a business, which for most businesses is generally considered to be one year and corresponds to the twe
5、lve-month fiscal year used for financial reporting purposes. This, however, does not imply that it should take one year to collect individual receivable balances. In the case of a university press, accounts receivable represents a major component of current assets, working capital, and cash flow. Th
6、e other major components of a university presss working capital are cash, short-term investments, and inventory. As a component of working capital, accounts receivable must be carefully managed in order to be turned into cash as quickly as possible and to avoid becoming uncollectible. Although accou
7、nts receivable is reported as a current asset, it must be carefully valuated and reported because until the receivable is collected, it cannot readily assist with the paying of current obligations. Accounts Receivable and Collections Reports Because of the significance of accounts receivable it is i
8、mportant for management to receive periodic reports that both measure the effectiveness of collection activities and inform or alert management of problem accounts. Ideally, reports should be generated on a monthly basis, but depending on the size of the receivable balance and collections staff, the
9、 issuance of such reports may range from weekly to quarterly. This flow of information is necessary so that management and collections staff can determine whether current credit and collections policies and procedures are working, or whether any of the policies and procedures need to be changed to m
10、ore effectively collect outstanding receivables. Additionally, the collections staff needs information so that collection activities can be prioritized, problem accounts isolated, and outstanding balances collected. Analysis of Accounts Receivable and Collections A number of methods are used to meas
11、ure accounts-receivable balances and the effectiveness of collection policies and procedures. Some of the more frequently used methods to analyze accounts receivable and collections include A/R at Year End as a Percentage of Total Sales. This ratio is computed by dividing the fiscal year-end A/R bal
12、ance by fiscal year net sales. The AAUP Statistical Survey reported averages between 21.6 percent and 23.0 percent for fiscal years 1992 through 1995. This ratio can also be computed at any time during the year; however, to get a meaningful ratio, the A/R balance must be divided by net sales for the
13、 most recent twelve months. Average Collection Period. This ratio is an indication of the average number of days required to convert receivables into cash. Ideally, the computation should use a monthly average of receivables and include only credit sales. A monthly average of receivables should be u
14、sed in order to offset any fluctuations that may occur during the year. Additionally, only credit sales should be used in this computation since cash sales usually do not involve any credit risk. The computation of the average collection period is a two-step process. First divide total sales (prefer
15、ably credit sales only) for the fiscal year by 365. This calculation yields the amount of credit sales per day. Then divide the year-end receivable balance (or average monthly receivable balance) by the credit sales per day. The result is the average collection period in days. The AAUP Statistical S
16、urvey reported average collection periods of 77 to 91 days for fiscal year 1995 and 80 to 95 days for fiscal year 1994. A/R Aging Schedule. This is a periodic report used to determine the priorities of collection activities. An aging schedule lists all customer accounts with outstanding balances as
17、of the date of the aging schedule, one account per line. Across the line, the total amount due is broken down, or aged, by overdue categories. The overdue categories generally include current (not yet due), 1 to 30 days past due, 30 to 60 days past due, 60 to 90 days past due, and over 90 days past
18、due. The aging categories may need to be adjusted to properly reflect an organizations terms of sales. A/R Aging by Customer Type or Payment Terms. This is a variation of the A/R Aging Schedule and can be used to more effectively target accounts that require the attention of the collections staff. A
19、 more focused schedule also allows comparisons to be drawn between similar accounts. Bad Debt Expense as Percentage of Total Sales. This ratio is computed by dividing year-end bad debt expense by net sales. The AAUP Statistical Survey reported averages of 0.4 percent and 0.5 percent for fiscal years
20、 1992 through 1995. Bad Debt Expense as Percentage of A/R Balance. This ratio is computed by dividing year- end bad debt expense by the year-end (or average) A/R balance. The AAUP Statistical Survey reported averages between 1.8 percent and 2.0 percent for the fiscal years 1992 through 1995. Credit
21、Department Monthly Report. This is a summary report that helps management monitor the monthly accounts-receivable status and collections activities. A typical report would include current month and prior month balances for accounts receivable, total collections, and total net sales. Additionally, so
22、me ratios might be included, such as the average collections period. Bad debt comparison would include bad debt write-off for the current month, fiscal year to date, and last fiscal year to date. Finally, a summary of the number of accounts and balances in each aging category should be included. The
23、re is no universal, or standard, format for this type of report. For a credit department monthly report to be truly effective, it must be tailored to the needs and reporting capabilities of each individual press. The idea of this report is to provide management with a one-page summary of collection
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