November 2008
Beginner
448 pages
11h 33m
English
Content preview from Budgeting Basics and Beyond
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17.8. Conclusion
Two methods of estimating the expected collectible and uncollectible patterns of customer accounts were presented. The regression approach is relatively inexpensive to use because all it requires is data on cash collections and credit sales. Furthermore, credit sales values are all predetermined. Because previous months' credit sales are used to forecast cash collections, there is no need to forecast credit sales. The model allows users to make all kinds of statistical inferences about the cash collection percentages and forecast values.
The chapter also illustrated how collection rates are used for cash budgeting purposes and how the cash budget is constructed.
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