The following account balances are taken from Ferguson Sports at December 31.
Calculate the number of days' sales uncollected for both years.According to this analysis,is the company's collection of receivables improving? Explain.
Definitions:
Sales
Transactions between a buyer and a seller involving the exchange of goods, services, or property for money.
Financial Ratios
Quantitative measures derived from financial statements to assess a company's performance, financial health, and operational efficiency.
Generally Accepted Accounting Principles
The framework of guidelines for financial accounting that includes details on how accounting transactions should be reported.
Horizontal Analysis
A technique in financial analysis that compares line items in financial statements over a series of periods.
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