Accounts Receivable And Collections Career Guide and Counseling

Question: Anyone knows where I can find Info on Collections (Accounts Receivable) laws (Rules) in Quebec.Thanks. Bruno? Either a website or a phone number would be great

Answer: My suggestion is to look under the Civil Code of Quebec, all laws created in Quebec fall under this. Its available in english and french and beginning with Chapter Five Obligations its very likely that at Chapter VI within obligations you will find what you are looking for. The Civil Code is not difficult to read as long as you know some terminology such as what a contract is. Its difficult to say that there are any accounts receivable laws per se. It depends on the type of contract and how it was adminstered. You might talk with someone who works for an accounts receivable department of a small company, they would be able to tell you the regulations related to this. As far as a website I do not know of any, the civil code is available in book form and in small pieces on the net, related to specific areas.

Question: corporate policy on accounts receivable and collections?

Answer: WHAT ARE YOU ASKING?? PLEASE ADD MORE TO THIS SO THAT I MAY HELP YOU

Question: Is the collection of accounts receivable an Operating activity? or is it Investing or Financing activity?

Answer: On a statement of cash flows, it would be classified as cash received from operating activities.

Question: What is the normal procedure for handling the collection of accounts receivable previously written off using t?

Answer: I'm assuming you're using the allowance method. Let's say you looked at your AR and you estimate $5,000 will be uncollectible, so you: Dr Bad debts expense $5,000 Cr Allowance for uncollectible accounts $5,000 Next, you find a customer is not going to pay up, so you write off his amount due of $900: Dr Allowance for uncollectible accounts $900 Cr AR $900 Later you find that he pays up his amount due of $900. You need to reverse the write off: Dr AR $900 Cr Allowance for uncollectible accounts $900 Then you record the receipt of money from him: Dr Cash $900 Cr AR $900

Question: Is Accounts Receivable/ Collection a good job? Duties?

Answer: There is definately a demand for it with the current credit crunch.

Question: Thinking about the current ratio and quick ratio, how would collection of accounts receivable affect them?

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Question: How to get collection target for a Accounts receivable process?? Hi I work for a provider, and i end up getting high collection target which on most of the instances i fail to achive. But I have no explanation why the target was not met. But I later I came to know that there is a calculation to get the target.. Can anyone help me with this formula???

Answer: I know of two A/R solvency measures: A/R turnover = ( Net Sales ) / ( Average A/R ) The higher this ratio is, the better. The other one is: Number of Days' Sales in Receivables = ( Average A/R ) / ( Average Daily Sales ) This ratio is an estimate of the length of time (in days) the accounts receivable have been outstanding. Therefore, the lower this ratio is, the better.

Question: importance of accounts receivable collection policy? for a firm that selling a complete line of office equipment, furniture, and supplies

Answer: hahaha.. u are utar student rite??

Question: What is its level of accounts receivable? Camp Depot is a wholsesale office supplier. Annual sales are $2,500,000 with 95% of sales on credit. If the firm's average collection period is 41 days, what is its level of accounts receivable? assume a 360-day year

Answer: $270,486.11

Question: Given an accounts receivable turnover of 8 and annual credit sales of $362,000,the average collection period? (360-day year)is:

Answer: slight trick question, in that you do not need to know the annual credit sales figure. turnover ratio = year days / average collection period therefore average period = days / ratio =360 / 8 = 45 days average. --------------------- and for bonus points the amount = total sales / ratio = 362,000 / 8 = 45,250