NET RECEIVABLES are a companys accounts receivable (money owed to the company) minus any provisions for bad debts. A firm with a sustainable competitive advantage shows a lower percentage net receivables to gross sales than their competitors, i.e. a firm with a sustainable competitive advantage need not be generous with credit.
3% RULE see THREE PERCENT RULE.
STATEMENTS OF AUDITING STANDARDS (SAS) provide guidance to external auditors on Generally Accepted Auditing Standards (GAAS) in regards to auditing an entity and issuing a report.
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