ACCOUNTS RECEIVABLE TURNOVER Definition

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ACCOUNTS RECEIVABLE TURNOVER is the ratio of net credit sales to average accounts receivable, which is a measure of how quickly customers pay their bills.

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OPERATING EXPOSURE, in foreign exchange, is currency fluctuations combined with price level changes that can alter the amounts and riskiness of a firm's future revenues and costs. It is typified by evaluating real exchange gains or losses. It is prospective and long-term in nature.

PICKUP, in securities, is the higher yield obtained in a swap transac­tion-that is, the improved yield on the item being purchased relative to the selling yield on the security being liquidated.

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