Receivable

Definition: A Receivable is an amount owed to a company for goods or services delivered but not yet paid for. The most common type is Accounts Receivable (trad…

A Receivable is an amount owed to a company for goods or services delivered but not yet paid for. The most common type is Accounts Receivable (trade receivables from customers). Other types include Notes Receivable, Interest Receivable, and Tax Receivable. Receivables are current assets reported at net realizable value (gross receivable less Allowance for Doubtful Accounts). Under ASC 326 (CECL), the allowance is estimated using a current expected credit loss model based on historical experience, current conditions, and reasonable forecasts.