Corinthian Colleges (FRA:CH7) Accounts Receivable : €58 Mil (As of Jun. 2013)

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What is Corinthian Colleges Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Corinthian Colleges's accounts receivables for the quarter that ended in Jun. 2013 was €58 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Corinthian Colleges's Days Sales Outstanding for the quarter that ended in Jun. 2013 was 8.77.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Corinthian Colleges's Net-Net Working Capital per share for the quarter that ended in Jun. 2013 was €-3.11.

Corinthian Colleges Accounts Receivable Historical Data

The historical data trend for Corinthian Colleges'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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Corinthian Colleges Accounts Receivable Chart

Corinthian Colleges Annual Data

Trend

Jun04

Jun05

Jun06

Jun07

Jun08

Jun09

Jun10

Jun11

Jun12

Jun13

Accounts Receivable

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47.11

77.93

117.21

77.15

58.28

Corinthian Colleges Semi-Annual Data
	Jun98	Jun99	Jun00	Jun01	Jun02	Jun03	Jun04	Jun05	Jun06	Jun07	Jun08	Jun09	Jun10	Jun11	Jun12	Jun13
Accounts Receivable	Get a 7-Day Free Trial											47.11	77.93	117.21	77.15	58.28

Corinthian Colleges Accounts Receivable Calculation

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

Corinthian Colleges 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.

Corinthian Colleges's Days Sales Outstanding for the quarter that ended in Jun. 2013 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	58.283	/	1212.955	*	91
=	8.77

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

Corinthian Colleges's Net-Net Working Capital Per Share for the quarter that ended in Jun. 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)
=	(35.32	+	0.75 * 58.283	+	0.5 * 0	-	347.089
-	0	-	0)	/	86.183
=	-3.11

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.

Corinthian Colleges Accounts Receivable Related Terms

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Corinthian Colleges (FRA:CH7) Business Description

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GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Education » Corinthian Colleges Inc (FRA:CH7) » Definitions » Accounts Receivable

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Address

Website

http://www.cci.edu

Corinthian Colleges Inc is a post-secondary education company in the United States and Canada. It offers diploma programs and associate, bachelors and master's degrees through a single operating segment. As of June 30, 2013, it has a student enrollment of 81,284 and operated 97 schools in 25 states, and 14 schools in the province of Ontario, Canada. The Company has acquired 76 colleges including the Heald acquisition and has opened 35 branch campuses. Its training program areas include healthcare, criminal justice, business, mechanical, trades, and information technology. The Company's diploma programs provide students with the requisite knowledge and job skills for entry-level positions in their chosen career.Key elements of its operating strategy includes emphasize Student Outcomes, create an Effective Learning Environment, focus on Attractive Markets, manage School and Program Performance, Standardize Key Business Processes and Centralize Key Functions.

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