Account Receivable Turnover: A measure used to determine a company's average collection period for receivables: computed by dividing net sales (or net credit sales) by average accounts receivable.

 

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Account Receivable Turnover: A measure used to determine a company's average collection period for receivables: computed by dividing net sales (or net credit sales) by average accounts receivable.

Money Market Demand Account (MMDA): An account that pays interest based on short-term interest rates.

National Accounts: Large group accounts that have employees in more than one geographic area that are covered through a single national contract for health coverage. Contrast with large local groups.

Net Realizable Value Of Accounts Receivable: The net amount that would be received if all receivables considered collectible were collected: equal to total accounts receivable less the allowance for uncollectible accounts: also called . . . View Full Definition

New Account Report: A broker's document including information about a new client. See: Know your customer.

Negotiable-Order-Of-Withdrawal Account: A negotiable-order-of-withdrawal (NOW) account is an interest-bearing checking account that pays interest on the balance, usually at a rate comparable to a money market account. You may be r . . . View Full Definition

Money Market Account: These bank savings accounts normally pay interest at rates comparable to those offered by money market mutual funds or money market separate accounts offered under a variable annuity contrac . . . View Full Definition

Medical Savings Account (MSA): A trust that employees of small businesses may establish to pay for out-of-pocket medical expenses.

Medical Savings Accounts (MSA): Savings accounts designated for out-of-pocket medical expenses. In an MSA, employers and individuals are allowed to contribute to a savings account on a pre-tax basis and carry over the unus . . . View Full Definition

Memorandum Accounts: A name for the accounts held in a subsidiary ledger. Eg. the accounts in a sales ledger .