What is the Accounts Receivable Turnover Ratio?

Explain the analysis of the ratio.

Use the financial statement given below.

Consolidated Balance Sheets As at (CS in millions) ASSETS Cash and cash equivalents (Note 7) Short-term investments Trade and other receivables (Note 8) Loans receivable (Note 9) Merchandise inventories Income taxes recoverable Prepaid expenses and deposits Assets classified as held for sale Total current assets Long-term receivables and other asset Long-term investments Goodwill and intangible assets (Note Investment property (Note 12) Property and equipment (Note 13) Right-of-use assets (Note 14) The related notes form an integral part of these consolidated financial statements. Consolidated Statements of Income The related notes form an integral part of these consolidated financial statements. Consolidated Statements of Comprehensive Income Consolidated Statements of Cash Flows For the years ended The related notes form an integral part of these consolidated financial statements