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TeachMeFinance.com accounts receivable -- amounts recorded as assets on the books of a company, institution or individual that are due, but have not yet been collected, from a debtor for the previous purchase of merchandise or services. another definition... Accounts Receivable -- The amount of money a business expects to receive for merchandise or services furnished by it to others on open account. another definition... Accounts Receivable -- On the part of a business, money expected for transactions in goods and services on open account. This is an important criterion in assessing a firm�fs liquidity, i.e., its capability to discharge current obligation without seeking supplementary revenue. historic definition... Account receivable -- An account which stands as a credit and to close which payment must be received. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.