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Simon Huang
2010.09.03
★★★★★
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A great book, but on page 194, there is a mistake:
The formula of the Accounts Payable Turnover is used to measure the turn over times, but on this page, it is mistakenly put as "Cash Conversion Days of Accounts Payable".
And the formula itself is not very clear, especially the number to be divided; is it COGS? If not, where in the financial statement we can find this number?
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