accounts receivable

accounts receivable
Money due or owed to a business or professional by customers or clients for goods or services. Generally, accounts receivable refers to the total amount due to a business and is considered in calculating the value of the business.
Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & Finances
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Category: Business, LLCs & Corporations → Business Tax & Deductions
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Nolo’s Plain-English Law Dictionary. . 2009.

accounts receivable
USA

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

accounts receivable
n.
   the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business's problems in paying its own debts. Evaluation of the chances of collecting based on history of customers' payments, quality of customers and age of the accounts receivable and debts is important. A big mistake made by people overly eager to buy a business is to give too high a value to the accounts receivable without considering the chances of collection.

Law dictionary. . 2013.

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