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Interpretation of F.S

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Interpretation of F.S

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by John Moffat.
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  • July 29, 2020 at 1:24 am #578521
    Sourav9271
    Participant
    • Topics: 170
    • Replies: 120
    • ☆☆☆

    Sir,
    In terms of receiveables and payables days if we don’t have credit purchase or credit sales should we use total revenue and total purchase in denominator?
    And sir,
    What should be in the denominator of average payables day?
    Is it COGS or Purchases?

    July 29, 2020 at 9:00 am #578560
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54705
    • ☆☆☆☆☆

    In both cases it depends what information we have available.

    For receivables days we should use credit sales but if we don’t know that we use total sales.

    For payables days we should use credit purchases, but if we don’t know that we use total purchases (and if we don’t know that we use cost of sales).

    I do explain this in my free lectures.

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