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Receivable period

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Receivable period

  • This topic has 1 reply, 2 voices, and was last updated 5 years ago by Kim Smith.
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  • August 10, 2019 at 6:27 pm #527087
    vavneetb
    Participant
    • Topics: 175
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    How an overstatement of revenue would result into reduction, Not an increase in the receivable period?

    August 11, 2019 at 9:11 am #527108
    Kim Smith
    Keymaster
    • Topics: 133
    • Replies: 8300
    • ☆☆☆☆☆

    See page 86 of the notes “Collection period, that is a number of days’ sales in receivables. It is calculated as receivables divided by sales per day.” (Or you should know the calculation from F3/FR = Receivables/(Sales/365) = Receivables/Sales X 365 = a # of days

    Since you are dividing by sales, the number of days must decrease if revenue is overstated. You should always put #s into formulae to convince yourself and make sure you understand how they “work” if you are unsure.

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