receivables

Receivables

An asset designation applicable to all debts, unsettled transactions or other monetary obligations owed to a company by its debtors or customers. Receivables are recorded by a company's accountants and reported on the balance sheet, and they and include all debts owed to the company, even if the debts are not currently due.

Notes:

Receivables are recorded as an asset by the company because it expects to receive payment for the outstanding amounts soon. Long-term receivables, which do not come due for a significant length of time, are recorded as long-term assets on the balance sheet most short-term receivables are considered part of a company's current assets.

See also: Accounts Payable, Annual Report, Balance Sheet, GAAP, Net Receivables, Receivables Turnover Ratio

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receivables

See accounts receivable.