Purpose: To help you understand and compare the performance of two companies in the same industry. Find
Question:
Find the Columbia Sportswear Company Annual Report located in Appendix A and go to the Financial Statements starting on page 000. Now access the 2010 Annual Report for Under Armour, Inc., from the Internet. For instructions on how to access the report online, see the Industry Analysis in Chapter 1. The company’s Financial Statements start on page 45.
Requirement
1. Calculate the accounts receivable turnover for both companies for 2010. Who has the highest accounts receivable turnover? Is that good or bad? Is it better to have a high accounts receivable turnover or a low accounts receivable turnover? Explain your answer. Assume net sales are all credit sales.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Accounts receivable turnover is the ratio of credit sales to average accounts receivable It is calcu...View the full answer
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