aging of balances
The stratification of a balance sheet amount by either transaction or cash *settlement date. Balances for which aged analyses are prepared typically include *accounts receivable, inventory, and long-term *loans. Aging is often used for management information purposes. For example, an aged analysis of accounts receivable facilitates *credit control procedures by identifying overdue customer balances. Aging can also be required for *disclosure of items in financial statements.

Auditor's dictionary. 2014.

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