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Comparing these ratios over time and to industry benchmarks reveals improvement or deterioration in managing accounts receivable. Trending the average AR balance itself also provides insights on working capital efficiency. This final figure shows the more realistic amount of money that Company ABC expects to collect from customers. This practice carries inherent credit and default …

What Is Net Receivables? Definition, Calculation, and Example Read More »

Data analytics, machine learning, and AI techniques are replacing the rules-based approach used previously by banks and credit card companies to detect payment fraud. Data mining in accounting has been shown to be more effective at detecting potential financial fraud than statistical methods because it applies machine learning to improve classification accuracy, especially when working …

Uses of Data Analytics in Accounting and Finance Read More »