Accounts Receivable

Trade Receivables

Refer to claims arising from sale of merchandise or services.

Accounts Receivable

arising from the sale of goods, not supported by promissory notes.

Notes Receivable

Supported by formal promises to pay in form of notes

Non-Trade Receivable

claims arising from sources other than the sale of merchandise or services.

Trade Receivables

Normal operating cycle or one year, classified as current assets.

Non-Trade Receivables

To be realized in cash within one year, the length of the operating cycle notwithstanding, also classified as current assets.

Non current assets

If collectible within one year, Non trade Receivables are classified as….

Trade and Other Receivables

currently collectible shall be presented on the face of the statement of financial position as one line item.

Non Trade Receivables

Advances to or from shareholders, directors, officers or employees.

Non Trade- Non Current Investments

Advances to Affiliates

Non Trade- Current Assets

Advanced to Supplier

Non Trade- Non Current

Subscriptions Receivable (if silent)

Non-trade- Current Assets

Creditor's Accounts

Non-Trade- Non Current Assets

Special Deposits

Non Trade- Current Assets

Dividend Receivable, Accrued Rent, Accrued Royalties Receivable and Accrued Interest Receivable

Non Trade- Current Assets

Claims Receivable

Customer’s Credit Balance

resulting in overpayments, returns and allowances, and advance payments from customers

Current Liabilities

Customer's Credit Balances

At Face Amount or Original Invoice Amount

Initial Measurement of AR

Not Discounted

Cash flows relating to short-term receivables are…

At Amortized Cost

Initial Recognition of AR must be

Net Realizable Value (NRV)

Amortized cost is also called