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The Appendix
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Overview of Cash
Controlling and
Reporting of Cash
and Receivables
Managing Cash
Overview of Receivables
Notes Receivable
Basics of Receivables Management
Controlling and Reporting of Cash and Receivables
Reporting and Analyzing Receivables
Controlling and
Reporting of Cash
and Receivables
(continued)
Controlling and Reporting of Cash and Receivables > Overview of Cash
Overview of Cash
• What Is Cash?
• Types of Cash
• Reporting Cash
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8/
Controlling and Reporting of Cash and Receivables > Managing Cash
Managing Cash
• Cash Controls
• Using a Bank for Control
• Reconciling Cash Accounts and Bank Statements
• Basics of Cash Management
www.boundless.com/accounting/textbooks/boundless-accounting-textbook/controlling-and-reporting-of-cash-and-receivables-4/managing-cash-29/
Controlling and Reporting of Cash and Receivables > Overview of Receivables
Overview of Receivables
• What Is a Receivable?
• Types of Receivables
• Recognizing Accounts Receivable
• Valuing Accounts Receivable
www.boundless.com/accounting/textbooks/boundless-accounting-textbook/controlling-and-reporting-of-cash-and-receivables-4/overview-of-receiv
ables-30/
Controlling and Reporting of Cash and Receivables > Notes Receivable
Notes Receivable
• Components of a Note
• Recognizing Notes Receivable
• Valuing Notes Receivable
• Write-Offs
www.boundless.com/accounting/textbooks/boundless-accounting-textbook/controlling-and-reporting-of-cash-and-receivables-4/notes-receivable-3
1/
Controlling and Reporting of Cash and Receivables > Basics of Receivables Management
Basics of Receivables Management

• Activities to Manage Receivables
• Managing to Prevent Fraud
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es-management-32/
Controlling and Reporting of Cash and Receivables > Reporting and Analyzing Receivables
Reporting and Analyzing Receivables

• Classifying Receivables
• Dealing with Foreign Currency and Bad Debts
• Reporting Receivables
• Using the Receivables Turnover Ratio
www.boundless.com/accounting/textbooks/boundless-accounting-textbook/controlling-and-reporting-of-cash-and-receivables-4/reporting-and-analy
zing-receivables-33/
Appendix
Key terms
• accounting The development and use of a system for recording and analyzing the financial transactions and financial status of
a business or other organization.
• accounts receivable Amounts that customers owe the company for normal credit purchases.
• aging the accounts receivable dividing the account receivable according the days until due ranging from current to overdue
• allowance for bad debts Since not all customer debts will be collected, businesses typically estimate the amount of and then
record an allowance for doubtful accounts which appears on the balance sheet as a contra accounts that offsets total accounts
receivable. When accounts receivable are not paid, some companies turn them over to third party collection agencies or
collection attorneys who will attempt to recover the debt via negotiating payment plans, settlement offers or pursuing other
legal action.
• Allowance for Doubtful Accounts An estimated amount of bad debts to be subtracted from a balance sheet's accounts.
• Allowance Method An adjustment is made at the end of each accounting period to estimate bad debts based on the business
activity from that accounting period.
• asset Items of ownership convertible into cash; total resources of a person or business, as cash, notes and accounts
receivable; securities and accounts receivable, securities, inventories, goodwill, fixtures, machinery, or real estate (as opposed
to liabilities).
• bad debt A debt which cannot be recovered from the debtor, either because the debtor doesn't have the money to pay or
because the debtor cannot be found and/or forced to pay.
• balance sheet A summary of a person's or organization's assets, liabilities. and equity as of a specific date.
• bank drafts A check guaranteed by a bank.
• Bank Reconciliation A process that explains the difference between the bank balance shown in an organization's bank
statement, as supplied by the bank, and the corresponding amount shown in the organization's own accounting records at a
particular point in time.
• bank statement a communication from a bank to a person holding an account in that bank, usually issued monthly, detailing
the value of the holdings in that account and the effects of all transactions occurring with respect to that account
• cash money in the form of notes/bills and coins, as opposed to cheques/checks or electronic transactions
• Cash equivalent Cash equivalents are assets that are readily convertible into cash, such as money market holdings, short-term
government bonds or Treasury bills, marketable securities, and commercial paper.
• Certificate of Deposit A common financial product, where consumers deposit money with a bank for a period of time in
exchange for higher interest rates.
• control A security mechanism, policy, or procedure that can counter system attack, reduce risks, and resolve vulnerabilities,
synonymous with safeguard and counter-measure.
• control A security mechanism, policy, or procedure that can counter system attack, reduce risks, and resolve vulnerabilities,
synonymous with safeguard and counter-measure.
• Current Asset In accounting, a current asset is an asset on the balance sheet which can either be converted to cash or used to
pay current liabilities within 12 months.
• debtor One who owes another anything, or is under obligation, arising from express agreement, implication of law, or principles
of natural justice, to pay money or to fulfill some other obligation; in bankruptcy or similar proceedings, the person who is the
subject of the proceeding.
• debtor One who owes another anything, or is under obligation, arising from express agreement, implication of law, or principles
of natural justice, to pay money or to fulfill some other obligation; in bankruptcy or similar proceedings, the person who is the
subject of the proceeding.
• direct method a way to construct the cash flow statement by reporting major classes of gross cash receipts and payments
• Direct Write-Off Bad debts are recognized only after the company is certain the debt will not be paid.
• direct write-off method a way of reducing accounts receivable to its net realizable value through a single entry
• electronic funds transfer the transfer of money from one account to another, either within a single financial institution or across
multiple institutions, through computer-based systems
• fraud Any act of deception carried out for the purpose of unfair, undeserved, and/or unlawful gain.
• functional currency Functional currency refers to the main currency used by a business or unit of a business. It is the monetary
unit of account of the principal economic environment in which an economic entity operates.
• General Ledger General Ledger is the final repository of the accounting records and data. In modern accounting softwares, the
general ledger works as a central repository for accounting data transferred from all sub-ledgers or modules like accounts
payable, accounts recievable, cash management, fixed assets, purchasing and projects. General ledger is the backbone of
any accounting system which holds financial and non-financial data for an organization.
• internal control a process affected by an organization's structure, work and authority flows, people and management
information systems, designed to help the organization accomplish specific goals or objectives
• internal controls In accounting and auditing, internal control is defined as a process affected by an organization's structure,
work and authority flows, people and management information systems, designed to help the organization accomplish specific
goals or objectives [1]. It is a means by which an organization's resources are directed, monitored, and measured. It plays an
important role in preventing and detecting fraud and protecting the organization's resources, both physical (e.g., machinery
and property) and intangible (e.g., reputation or intellectual property such as trademarks).
• journal entry A journal entry, in accounting, is a logging of transactions into accounting journal items. The journal entry can
consist of several items, each of which is either a debit or a credit. The total of the debits must equal the total of the credits or
the journal entry is said to be "unbalanced. " Journal entries can record unique items or recurring items, such as depreciation
or bond amortization.
• journal entry A journal entry, in accounting, is a logging of transactions into accounting journal items. The journal entry can
consist of several items, each of which is either a debit or a credit. The total of the debits must equal the total of the credits or
the journal entry is said to be "unbalanced. " Journal entries can record unique items or recurring items, such as depreciation
or bond amortization.
• maker the party issuing a promisory note
• Mature The final payment date of a loan or other financial instrument, at which point the principal (and all remaining interest) is
due to be paid.
• Notes Receivable Amounts owed to the company by customers or others who have signed formal promissory notes in
acknowledgment of their debts.
• Notes to the Financial Statements Notes to financial statementsFree
(notes)
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statements and help explain specific items in the financial statements as well as provide a more comprehensive assessment of
• payment date the day when the dividend checks will actually be mailed to the shareholders of a company or credited to
brokerage accounts
• Payment Terms Forms of trade credit which specify that the net amount (the total outstanding on the invoice) is expected to be
payment received in full 10, 15, 30, or 60 days after the goods are dispatched by the seller, or 10, 15, 30 or 60 days after the
service is completed. Net 30 or Net 60 terms are often coupled with a credit for early payment.
• promissory Stipulating the future actions required of the parties to an insurance policy or other business agreement.
• promissory note a document saying that someone owes a specific amount of money to someone else, often with the deadline
and interest fees
• purchase invoice the buyer's name for a commercial document issued by a seller to a buyer, indicating the products,
quantities, and agreed prices for products or services the seller has provided the buyer
• receivable A debt owed, usually to a business, from the perspective of that business.
• receivable Represents money owed to a business for the sale of products or services on credit.
• revenue Income that a company receives from its normal business activities, usually from the sale of goods and services to
customers.
• revenue Income that a company receives from its normal business activities, usually from the sale of goods and services to
customers.
• uncollectible Receivables that cannot be collected.
• voucher A receipt.
• write-off The cancellation of an item; the amount cancelled or lost.
• write-off To remove a portion of a debt or an amount of an account owed to you counting it as a loss (as a gesture of goodwill
for example)
Using the Balance Sheet

The balance sheet is one of the financial reports included in a company's annual report.
Stock.KCHNG. "The Leading Source Of Free Stock Photos - stock.xchng." License: Other http://www.sxc.hu/ View on Boundless.com
Cash
A business's cash account is how much currency it has on hand at a given time.
Wikimedia. "American Cash." Public domain http://commons.wikimedia.org/wiki/File:American_Cash.JPG View on Boundless.com
Money
Factoring makes it possible for a business to readily convert a substantial portion of its accounts receivable into cash.
Balance Sheet
Cash is reported on a company's balance sheet.
Wikimedia. "DWBA DBS." CC BY-SA http://commons.wikimedia.org/wiki/File:DWBA_DBS.jpg View on Boundless.com
A current liability, such as a credit purchase, can be documented with an invoice.

Current liabilities are debt owed and payable no later than the current accounting period.
Wikimedia. "Volkswagen Invoice." CC BY http://commons.wikimedia.org/wiki/File:Volkswagen_Invoice.jpg View on Boundless.com
Balance sheet
Sample balance sheet
Wikipedia. "Balance sheet." GNU FDL http://en.wikipedia.org/wiki/Balance_sheet View on Boundless.com
Valuing Receivables
Receivables are recorded at net realizable value.
Allowance for Doubtful Accounts

Allowance for Doubtful Accounts (the allowance method)
Types of Receivables
Classifying receivables...
Uncollectibles
Interesting Facts About Collection Agencies.
Dropbox. CC BY http://dl.dropbox.com/u/31779972/Accounting%20Principles%20Vol.%201.pdf View on Boundless.com
Notes Receivable Example

Recording an interest receivable journal entry
Dropbox. CC BY http://dl.dropbox.com/u/31779972/Accounting%20Principles%20Vol.%201.pdf View on Boundless.com
Cash
Due to the amount of time between when a bank statement is prepared and when it is received by a business, the document may not accurately reveal
what the business actually has in terms of cash. This is why reconciling the bank statement is necessary.
Flickr. "All sizes | cash money | Flickr - Photo Sharing!." CC BY http://www.flickr.com/photos/22344831@N04/3141765730/sizes/m/in/photostream/
View on Boundless.com
General Accounting Cycle

Figure shows the accounting cycle.
Wikipedia. "Oracle General Ledger." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Oracle_General_Ledger View on Boundless.com
Confederate Note Receivable

A One Hundred Dollar Confederate States of America banknote dated December 22, 1862. Issued during the American Civil War (1861–1865).
Wikimedia Foundation. "File:Confederate 100 Dollars.jpg - Wikimedia Foundation." Public domain
http://wikimediafoundation.org/wiki/File:Confederate_100_Dollars.jpg View on Boundless.com
Compound Interest Treasury Note

Notes are short-term investment vehicles.
Wikimedia. "UScompoundinterestnote." CC BY-SA http://commons.wikimedia.org/wiki/File:UScompoundinterestnote.jpg View on Boundless.com
Sample Balance Sheet in Chinese

A sample balance sheet in Chinese. Cash and cash equivalents are reported on the balance sheet.
Wikimedia. "Balance sheet2." GNU FDL http://commons.wikimedia.org/wiki/File:Balance_sheet2.jpg View on Boundless.com
Occupy Wall Street - Fraud

Occupy Wall Street protester with a sign defining fraud.
Fotopedia. CC BY-SA http://fr.fotopedia.com/items/flickr-6250744950 View on Boundless.com
Certificate of Deposit
An example of an early Certificate of Deposit. A CD may be a "cash equivalent" if it meets certain criteria.
Wikimedia. "US Postal Savings System 5." Public domain http://commons.wikimedia.org/wiki/File:US_Postal_Savings_System_5.jpg View on Boundless.com
Deutsche Bank
Keeping money in a financial institution, such as Deutsche Bank, can provide a critical control over a business's cash.
PEOI. "Accounting I Cash." CC BY-SA http://www.peoi.org/Courses/Coursesen/ac/fram8.html View on Boundless.com
Deutsche Bank
Keeping money in a financial institution, such as Deutsche Bank, can provide a critical control over a business's cash.
Wikimedia. "Frankfurt_Deutsche_Bank_Headquarters.20140221.jpg." CC BY-SA 3.0
https://commons.wikimedia.org/wiki/File:Frankfurt_Deutsche_Bank_Headquarters.20140221.jpg View on Boundless.com
Balance sheet
Accounts receivable are a line item in a balance sheet.
Balance sheet
Debtors (accounts receivable) are current assets.
Flickr. "y2cary3n6mng-q6hnvf-balance-sheet | Flickr - Photo Sharing!." CC BY http://www.flickr.com/photos/sampjb/7690684984/ View on Boundless.com
Balance Sheet
Internal controls are vital to ensure that financial statements, such as balance sheets, are accurate.
Wikimedia. "DWBA DBS." CC BY-SA http://commons.wikimedia.org/wiki/File:DWBA_DBS.jpg View on Boundless.com
Attribution
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• Wiktionary. "receivable." CC BY-SA 3.0 http://en.wiktionary.org/wiki/receivable
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• Wiktionary. "write-off." CC BY-SA 3.0 http://en.wiktionary.org/wiki/write-off
• Wiktionary. "revenue." CC BY-SA 3.0 http://en.wiktionary.org/wiki/revenue
• Wikipedia. "Notes receivable." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Notes_receivable
• Wikipedia. "Accounts receivable." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Accounts_receivable
• Wikipedia. "Revenue recognition." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Revenue_recognition
• Wikipedia. "Comparison of cash and accrual methods of accounting." CC BY-SA 3.0
http://en.wikipedia.org/wiki/Comparison_of_cash_and_accrual_methods_of_accounting
• Wikipedia. "Accounts receivable." CC BY-SA 3.0
http://en.wikipedia.org/wiki/Accounts_receivable%23Accounts_Receivable_Age_Analysis
• Wikipedia. "General Ledger." CC BY-SA 3.0 http://en.wikipedia.org/wiki/General%20Ledger
• Wikipedia. "Accounts receivables." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Accounts_receivables
• Wikipedia. "Notes to the Financial Statements." CC BY-SA 3.0
http://en.wikipedia.org/wiki/Notes%20to%20the%20Financial%20Statements
• Wikipedia. "Current Asset." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Current%20Asset
• Wikipedia. "Current asset." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Current_asset
• http://www.opencollegetextbooks.org/category/accounting/. CC BY http://www.opencollegetextbooks.org/category/accounting/
• Wikipedia. "Notes to the financial statements." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Notes_to_the_financial_statements
• Wikipedia. "Notes Receivable." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Notes%20Receivable
• Wikipedia. "accounts receivable." CC BY-SA 3.0 http://en.wikipedia.org/wiki/accounts%20receivable
• Wikipedia. "Receivable." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Receivable%23Bookkeeping
• Wikibooks. "Accountancy/Receivables." CC BY-SA 3.0 http://en.wikibooks.org/wiki/Accountancy/Receivables
• Wikipedia. "Electronic funds transfer." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Electronic_funds_transfer
• Wikipedia. "Internal control." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Internal_control
• Wiktionary. "control." CC BY-SA 3.0 http://en.wiktionary.org/wiki/control
• Wiktionary. "accounting." CC BY-SA 3.0 http://en.wiktionary.org/wiki/accounting
• Wiktionary. "fraud." CC BY-SA 3.0 http://en.wiktionary.org/wiki/fraud
• Wikipedia. "Accounting fraud." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Accounting_fraud
• Wikipedia. "Financial Fraud Prevention-Oriented Information Resources using Ontology Technology." CC BY-SA 3.0
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• Wiktionary. "promissory note." CC BY-SA 3.0 http://en.wiktionary.org/wiki/promissory_note
• Wikipedia. "Promissory note." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Promissory_note
• Wikipedia. "Promissory note." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Promissory_note
• Wiktionary. "debtor." CC BY-SA 3.0 http://en.wiktionary.org/wiki/debtor
• Wiktionary. "promissory." CC BY-SA 3.0 http://en.wiktionary.org/wiki/promissory
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• Wiktionary. "bad debt." CC BY-SA 3.0 http://en.wiktionary.org/wiki/bad_debt
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• Wikipedia. "Cash and cash equivalents." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Cash_and_cash_equivalents
• Wikipedia. "Cash flow statement." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Cash_flow_statement%23Indirect_method

• Wikipedia. "Direct Write-Off." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Direct%20Write-Off
• Wikipedia. "Allowance Method." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Allowance%20Method
• Wikipedia. "Receivable." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Receivable%23Bookkeeping
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• Wiktionary. "bank statement." CC BY-SA 3.0 http://en.wiktionary.org/wiki/bank_statement
• Wikipedia. "journal entry." CC BY-SA 3.0 http://en.wikipedia.org/wiki/journal%20entry
• Wikipedia. "Bank Reconciliation." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Bank%20Reconciliation
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• Wikipedia. "Payment Terms." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Payment%20Terms
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• Wiktionary. "control." CC BY-SA 3.0 http://en.wiktionary.org/wiki/control
• Wikipedia. "Invoice." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Invoice
• Wiktionary. "voucher." CC BY-SA 3.0 http://en.wiktionary.org/wiki/voucher
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• Wiktionary. "uncollectible." CC BY-SA 3.0 http://en.wiktionary.org/wiki/uncollectible

• Wikipedia. "Bad debt." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Bad_debt
• Dropbox. CC BY http://dl.dropbox.com/u/31779972/Accounting%20Principles%20Vol.%201.pdf
• Wiktionary. "debtor." CC BY-SA 3.0 http://en.wiktionary.org/wiki/debtor
• Wiktionary. "receivable." CC BY-SA 3.0 http://en.wiktionary.org/wiki/receivable
• Wikipedia. "functional currency." CC BY-SA 3.0 http://en.wikipedia.org/wiki/functional%20currency
• Wikipedia. "allowance for bad debts." CC BY-SA 3.0 http://en.wikipedia.org/wiki/allowance%20for%20bad%20debts
• Wikipedia. "Statement of cash flows." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Statement_of_cash_flows
• Wikibooks. "Accountancy/Receivables." CC BY-SA 3.0 http://en.wikibooks.org/wiki/Accountancy/Receivables

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Basics of Receivables Management

Controlling and Reporting of Cash and Receivables

Controlling and Reporting of Cash and Receivables

Basics of Receivables Management

Reporting and Analyzing Receivables

Using the Balance Sheet

A current liability, such as a credit purchase, can be documented with an invoice.

Allowance for Doubtful Accounts

Notes Receivable Example

General Accounting Cycle

Confederate Note Receivable

Compound Interest Treasury Note

Sample Balance Sheet in Chinese

Occupy Wall Street - Fraud

• Wikipedia. "Notes receivable." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Notes_receivable

• Wikipedia. "Cash flow statement." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Cash_flow_statement%23Indirect_method

• Wikipedia. "Accounts receivable." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Accounts_receivable

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