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BGC Partners Inc (NAS:BGCP)
Change In Receivables
$-181 Mil (As of Sep. 2014)

BGC Partners Inc's change in receivables for the quarter that ended in Sep. 2014 was $-181 Mil. It means BGC Partners Inc's accounts receivables declined by $181 Mil from Jun. 2014 to Sep. 2014 .

BGC Partners Inc's change in receivables for the fiscal year that ended in Dec. 2013 was $-156 Mil. It means BGC Partners Inc's accounts receivables declined by $156 Mil from Dec. 2012 to Dec. 2013 .

BGC Partners Inc's accounts receivables for the quarter that ended in Sep. 2014 was $1,452 Mil.

Days sales outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed. BGC Partners Inc's days sales outstanding for the three months ended in Sep. 2014 was 303.79.

In Ben Graham’s calculation of liquidation value, Apple Inc's accounts receivables are only considered to be worth 75% of book value. BGC Partners Inc's liquidation value for the three months ended in Sep. 2014 was $-533 Mil.


Definition

Change In Accounts Receivable relative to the previous period. It is any increase or decrease in the cash a company is owed by its customers.


Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days sales outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

BGC Partners Inc's Days Sales Outstanding for the quarter that ended in Sep. 2014 is calculated as:

Days Sales Outstanding
=Account Receivable/Revenue*Days in Period
=1452.253/436.216*91
=303.79

2. In Ben Graham’s calculation of liquidation value, BGC Partners Inc's accounts receivable are only considered to be worth 75% of book value:

BGC Partners Inc's liquidation value for the quarter that ended in Sep. 2014 is calculated as:

Liquidation Value
=Cash and Cash Equivalents-Total Liabilities+(0.75 * Account Receivable)+(0.5 * Inventory)
=631.481-2253.503+0.75 * 1452.253+0.5 * 0
=-533

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.


Related Terms

Days Sales Outstanding, Account Receivable, Revenue, NCAV, Cash and Cash Equivalents, Total Liabilities, Inventory


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

BGC Partners Inc Annual Data

Dec04Dec05Dec06Dec07Dec08Dec09Dec10Dec11Dec12Dec13
ChangeInReceivables -0-3-2442179-291-130206-145-156

BGC Partners Inc Quarterly Data

Jun12Sep12Dec12Mar13Jun13Sep13Dec13Mar14Jun14Sep14
ChangeInReceivables 60-230464-919-288237815-1,040551-181
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