updated 1/10/09
- In the following articles read about what to do (or not) with accounts receivable:
- Elaine Field: Need Cash in a Hurry? FSB online magazine, Jan 29, 2000 now: Netbusiness Magazine
- Sheryl Nance-Nash: Using Your Assets To Get Cash As a last resort, consider using your accounts receivable or inventory to get an advance,Netbusiness Magazine Jan 29, 2000
- Alexander Garrett CRASH COURSE: TACKING LATE PAYMENT. Management Today, Sept 1999 p98
- Unfortunately, I can no longer provide a direct link to the following articles,
however, you can get them using LEXIS-NEXIS or Infotrac, etc.
- Kirschbaum, Les, "Ten Common Mistakes in Accounts Receivable Management". Time Vista Boardroom (1997)
- Sklar, Leonard, "How to Collect like a Pro", Time Vista Boardroom (1997)
Summaries of relevant statements of financial accounting standards: Sale of receivables: SFAS125; Use FARS to obtain the full text
Questions: Post responses to these questions on the WebCT discussion page
- Two acceptable methods exist for accounting for uncollectible accounts. Be sure that you know the difference between these methods and how to apply them. Why are there two methods and does it really matter which one is used? Who decides?
- Accounting for uncollectible accounts requires estimation of expected bad debts. Where do these estimates come from? What to do if your estimate turns out to be incorrect?
- Companies commonly provide incentives for customers who pay quickly. What is the meaning of, for example, 2/10;n/30? Is there really a "discount" (i.e., a reduction in price) involved? If not, how should these "discounts" be regarded?
- What is the difference between an account and a note receivable? Some notes-receivable do not carry a stated interest rate. Does this really mean that they are interest free? If not, how do you know what the interest rate is? Make sure that you know how to account for non-interest bearing notes.
- Getting Quick Cash from Receivables. Many times companies that "carry their own accounts" wish to receive cash faster than customers are obligated to pay. What are the different methods available for getting quick cash? Be sure you know how to account for these different methods
Review Quizzes - From the text book: http://highered.mcgraw-hill.com/sites/0073526878/student_view0/chapter7/chapter_quiz.html
Other quizzes: Note these are pretty old quizzes, but they may still be somewhat helpful for practice purposes
Contact Information
Email: heidemarie.lundblad@csun.edu - Notice: I do not read or answer email from unidentified sources.
Department of Accounting Office: Juniper Hall JH3123
Department Telephone Number: (818) 677-2461
Less
than one year, more than one year, with and without periodic payments