In discussion posts #1 and #2, we chose one of five sneaker companies and located either their annual report or the most recent set of financial statements, then determined where to find some of the major amounts listed on those annual reports. Posts #3 and #4 asked for more specific information about your companies.
For your discussion post:
- What is the company’s balance in receivables at year-end? Has it increased or decreased from the prior year? Is there any explanation as to why there was a change? Hint: Look in the notes to the financial statements.
- Using the equations in your chapter, compute the receivables turnover rate and the number of days in receivables. What does this mean based on the information that you have read in your chapter?
- Search the web to find the current average receivables turnover rate for the footwear industry for the year of your financial statements. If the ratios are presented by quarter, use the 4th quarter ratios. How does your company compare to the industry? Explain.
- How does the company account for uncollectible accounts? Hint: Look in the notes to the financial statements
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