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Key information from Nokia, which is a leading global manufacturer of mobile devices and services, follows.
EUR millions
Current Year
Prior Year
Accounts receivable, net*
7,981
9,444
Sales
40,984
50,710
1. Compute the accounts receivable turnover for the current year.
2. How long does it take on average for Nokia to collect receivables?
3. Refer to BTN 9-2. How does Nokia compare to Research In Motion and Apple in terms of its accounts receivable turnover and its collection period?
4. Nokia reports an aging analysis of its receivables, based on due dates, as follows (in EUR millions) as of December 31, 2009. Compute the percent of receivables in each category.
Total Receivables
Current
7,302
Past due 1-30 days
393
Past due 31-180 days
170
More than 180 days
116
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