Other receivables are disclosed under the heading “Current Assets” on the balance sheet of the company at the end of the period. These are residual trade or non-trade receivables that have not been specified by the company or regulations or do not meet the criteria of …

Mar 5, 2022 · Other receivables refer to money owed from third parties to a company. Usually, companies record and report trade receivables. These amounts come from selling goods and services to customers on credit. However, other receivables do not meet the classification criteria under that heading.

Trade and other receivables are categorized or classified as current assets on the company’s balance sheet at the specific reporting period. These amounts are expected to be settled in less than 12 months.

Apr 10, 2023 · What Are Other Receivables? Other receivables include different types of non-trade receivables, such as interest receivables, salary receivables, employee advances, tax refunds, loans made to employees or other companies, and much more.

Instead, non-trade receivables represent other, non-typical income streams the company is still waiting to collect. They are usually reported as current assets on the balance sheet as long as the company expects to convert the receivables into cash …

Sep 4, 2020 · Receivables represent money owed by entities to the firm on the sale of products or services on credit. Depending on the industry in practice, accounts receivable payments can be received up to 10 – 15 days after the due date has been reached.

Jan 28, 2025 · Receivables are the sums that a company’s customers or clients owe it for items sold or services provided on credit. It stands for the business’s right to get paid by its clients. Receivables are listed as assets on the balance sheet and are a significant component of a company’s financial status.

Other accounts receivable are entries on the balance sheet comprising amounts owed to a company that do not fit the standard accounts receivable classification. This category includes miscellaneous receivables, such as non-trade-related transactions or deferred payments.

Nov 25, 2024 · Other Receivables: Various other claims for money, such as interest receivable, tax refunds, and advances to employees. Let’s explore each type in detail, examining their characteristics, accounting treatment, and relevance to Canadian accounting standards.

Nontrade receivables exclude accounts receivable and may appear on the balance sheet as other receivables. Some examples of nontrade or other receivables include: worked as an accounting supervisor, manager, consultant, university instructor, …