Bayer is a German chemical group. The consolidated balance sheet and income statement (source: Annual reports 2010 and 2011) include the following data.

[Note 22] Trade accounts receivable Trade accounts receivable less write-downs amounted to E7,061 million (2010: E6,668 million, 2009: E6,106 million) on the closing date, including E7,049 million (2010: E6,655 million, 2009: E6,098 million) maturing within one year and E12 million (2010: E13 million, 2009: E8 million) maturing in subsequent years. Change in write-downs of trade accounts receivable were as follows

Trade accounts receivable amounting to E6,984 million (2010: E6,541 million, 2009: E5,938 million) were not individually impaired. Of this amount, E1,048 million (2010: E920 million, 2009: E1,057 million) was past due or due immediately on the closing date. The amounts of written down and overdue trade accounts receivable are summarized in the following table:

The figures in the column €˜up to 3 months€™ include receivables due immediately.
The gross carrying amount of individually impaired trade accounts receivable was E180 million (2010: E204 million) and the related write-downs totalled E103 million (2010: E77 million), resulting in a net carrying amount of E77 million (2010: E127 million, 2009: E168 million).
The unimpaired receivables were deemed to be collectible on the basis of established credit management processes and individual assessments of customer risks. The write-downs included an appropriate allowance for default risk.
Required
1 Compute the average days of sales (also called the number of days sales outstanding) and receivables turnover on the sole basis of the information provided in the balance sheet and income statement.
2 Compute the same ratios incorporating data disclosed in the notes.
3 Explain the difference you find between the two methods of computations.
4 Comment on these ratios.

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Excerpts from the consolidated statement of financial position (in millions of euros) Dec 31, 2009 Dec 31, 2010 Dec 31,2011 Current assets Trade accounts recehvables (Note 22) 6,106 6,668 7,061 Excerpts from the consolidated income statement (in millions of euros) 2009 2010 2011 Net sales 31,168 35,088 36,528 Write-downs of trade accounts receivable million Accumulated write-downs, January 1 Changes in scope of consolidation Additions expensed in the reporting period Deductions due to write-backs or utilization Exchange differences Accumulated write-downs, December 31 2009 2010 2011 (278) (52) 243) 256) (271) (85) 96 (26) (271) (76) 94 (25 (278) million Carrying Of which neither Of which not impaired but overdue at the balance Of which, amount impaired nor overdue at the sheet date 3-6 written down up to 3 months* at the closing date 6-12 Dec 31,2011 Dec 31,2010 Dec 31, 2009 7,061 6,668 6,106 balance sheet date 5,936 5,621 4,881 595 583 617 156 108 136 more than months 12 months 176 128 167 121 101 137 127 168