Presented here is selected financial information from the 2014 financial statements of Nike (in US$ millions) and

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Presented here is selected financial information from the 2014 financial statements of Nike (in US$ millions) and Adidas (in euro millions):
Presented here is selected financial information from the 2014 financial

Instructions
Calculate the receivables turnover and average collection period for both companies and compare the two companies. Comment on the difference in the two companies' collection experiences.
Taking It Further
Adidas's financial statements are prepared using euros, while Nike uses U.S. dollars. How does this affect our ability to compare sales for the two companies? To compare the receivables turnover and collection period?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Accounting Principles

ISBN: 978-1119048503

7th Canadian Edition Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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