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Aging and ITS financial Implications: Planning for housing Perspective, research and practical insights created in collaboration with The Center for Innovative Care in Aging at the Johns Hopkins University
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Aging refers to the process of classifying and categorizing outstanding invoices or accounts receivable based on how long they have been outstanding. Its financial aspect involves analyzing the impact of these outstanding invoices on the company's financial health.
Aging and its financial reports are typically prepared by finance and accounting departments within a company.
To fill out aging and its financial reports, companies need to have accurate records of outstanding invoices, payment history, and aging categories. These reports are usually prepared using accounting software.
The purpose of aging and its financial reports is to track and monitor the aging of outstanding invoices, assess the company's cash flow and financial stability, and identify any potential issues with collecting payments.
Aging and its financial reports typically include details such as customer name, invoice number, invoice date, due date, outstanding balance, and aging categories (e.g., 1-30 days, 31-60 days, etc.).
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