Aging of Accounts Receivable
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Aging of Accounts Receivable is the procedure of classifying accounts of individual customers by age group, where age is the number of days elapsed from due date.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Aging of Accounts Receivable. The procedure of classifying accounts of individual customers by age group, where age is the number of days elapsed from due date.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
