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Could you classify the major elements of the receivables account in balance sheet when making?

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Question ajoutée par Abdullah Aziz Eldain Morsi Elgendy - CMA Candidate , Regional Receivable Accountant , Amiantit Group of Companies
Date de publication: 2017/01/02
Majid Wangade
par Majid Wangade , Senior Accountant , KANTOUR LIMITED COMPANY ( Real Estate, Construction and Asset Management )

Receivables can generally be classified as accounts receivables or note receivable, though there are other types of receivables as well.Receivables can be classified as accounts receivables, notes receivable and other receivables ( loans, settlement amounts due for non-current asset sales, rent receivable, term deposits). Other receivables can be divided according to whether they are expected to be received within the current accounting period or 12 months (current receivables), or received greater than 12 months ( non-current receivables).

Soliman Abd  ALmalak Gendy
par Soliman Abd ALmalak Gendy , مدير ادارة مراقبة حسابات , الجهاز المركزى للمحاسبات

Liabilities represent claims by other parties aside from the owners against the asseets of a company. _:They include *Notes payable *Accounts payable "Intrest payable *Any accured expenses payable *Bonds payable *Unearned revenues

manseer muhammed ali
par manseer muhammed ali , Accountant General , Royal Lighting L.L.C & Royal Furnishing LLC

These sub-classifications support what might be viewed as an aggregate approach to balance sheet analysis. For example, the current ratio requires the sum of current assets and the sum of current liabilities to enable its computation. Although aggregated financial information of this nature is a necessity, the balance sheet often includes multiple elements within a group. The understanding of each element enhances one’s understanding of the sub-classification, its associated group, and ratios in which it is a component.

Let’s start with current asset first….

1.Current Assets

2. Cash And Cash Equivalents

3.Short-Term Investments Including Current Maturities Of Long-Term Investments

4.Accounts Receivables

5.Merchandise (Finished Goods) Inventories

 

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