China Marine Food Group (China Marine Food Group) Accounts Receivable : $30.3 Mil (As of Sep. 2013)

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What is China Marine Food Group Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. China Marine Food Group's accounts receivables for the quarter that ended in Sep. 2013 was $30.3 Mil.

Accounts receivable can be measured by Days Sales Outstanding. China Marine Food Group's Days Sales Outstanding for the quarter that ended in Sep. 2013 was 107.80.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. China Marine Food Group's Net-Net Working Capital per share for the quarter that ended in Sep. 2013 was $0.92.

China Marine Food Group Accounts Receivable Historical Data

The historical data trend for China Marine Food Group's Accounts Receivable can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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China Marine Food Group Accounts Receivable Chart

China Marine Food Group Annual Data

Trend

Dec00

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Accounts Receivable

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4.82

18.83

48.53

68.64

54.05

China Marine Food Group Quarterly Data
	Dec08	Mar09	Jun09	Sep09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13
Accounts Receivable	Get a 7-Day Free Trial															25.59	54.05	25.55	30.88	30.31

China Marine Food Group Accounts Receivable Calculation

Accounts Receivable is money owed to a business by customers and shown on its Balance Sheet as an asset.

China Marine Food Group Accounts Receivable 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.

China Marine Food Group's Days Sales Outstanding for the quarter that ended in Sep. 2013 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	30.314	/	25.659	*	91
=	107.80

2. In Ben Graham's calculation of Net-Net Working Capital (NNWC), China Marine Food Group's accounts receivable are only considered to be worth 75% of book value:

China Marine Food Group's Net-Net Working Capital Per Share for the quarter that ended in Sep. 2013 is calculated as:

	Net-Net Working Capital Per Share
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(0.807	+	0.75 * 30.314	+	0.5 * 68.456	-	30.136
-	0	-	0.356)	/	29.723
=	0.92

Be Aware

Net receivables tells us a great deal about the different competitors in the same industry. In competitive industries, some attempt to gain advantage by offering better credit terms, causing increase in sales and receivables.

If company consistently shows lower % Net receivables to gross sales than competitors, then it usually has some kind of competitive advantage which requires further digging.

Average Days Sales Outstanding is a good indicator for measuring a company's sales channel and customers. A company may book great revenue and earnings growth but never receive payment from their customers. This may force a write-off in the future and depress future earnings.

China Marine Food Group Accounts Receivable Related Terms

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China Marine Food Group (China Marine Food Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » China Marine Food Group Ltd (OTCPK:CMFO) » Definitions » Accounts Receivable

Comparable Companies

Traded in Other Exchanges

N/A

Address

Da Bao Industrial Zone, Shishi, Fujian, CHN, 362700

Website

http://www.china-marine.cn

China Marine Food Group Ltd is engaged in in the business of processing, distribution & sale of processed seafood-based snack foods, as well as the sale of fresh & frozen marine catch & ices. It also offers algae-based soft drinks.

Executives

Phil Frohlich	10 percent owner	1924 SOUTH IRICA SUITE 1120, TULSA OK 741046529
Prescott Group Capital Management, L.l.c.	10 percent owner	1924 SOUTH UTICA, SUITE 1120, TULSA OK 74104-6429
Jayhawk Capital Management Llc	10 percent owner, other: 13(d) group owning >10%	13021 W 74TH ST, SHAWNEE KS 66216
Kent C Mccarthy	10 percent owner, other: Member 13(d) group owning >10%	930 TAHOE BLVD., 802-281, INCLINE VILLAGE NV 89451
Jayhawk Private Equity Fund L P	10 percent owner, other: 13(d) group owning >10%	5410 WEST 61ST PLACE, SUITE 100, MISSION KS 66205
Jayhawk Private Equity Co Invest Fund Lp	other: Member of the group	5410 WEST 61ST PLACE, SUITE 100, MISSION KS 66205
Jayhawk Private Equity Gp, L.p.	10 percent owner, other: 13(d) group owning >10%	5410 WEST 61ST PLACE, SUITE 100, MISSION KS 66205
Hon Wai Ku	officer: Chief Financial Officer	SUITE 815, 8TH FLOOR, OCEAN CENTRE, HARBOUR CITY, 5 CANTON ROAD, KOWLOON,, HONG KONG F4 0000