Presented here is selected financial information from the 2014 financial statements of Nike (in US$ millions) and
Question:
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Instructions
Calculate the receivables turnover and average collection period for both companies and compare the two companies. Comment on the difference in the two companies' collection experiences.
Taking It Further
Adidas's financial statements are prepared using euros, while Nike uses U.S. dollars. How does this affect our ability to compare sales for the two companies? To compare the receivables turnover and collection period?
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...
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Step by Step Answer:
Nike Adidas in US millions in Euro millions Beginning of Year Jan 1 2014 Accounts receivable net 311...View the full answer
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Related Book For 
Accounting Principles
ISBN: 978-1119048503
7th Canadian Edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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