Hi, Net operating assets (NOA) equal total assets minus cash, cash equivalents and marketable securities. Just doublechecking whether accounts receivable should be deducted or not. Couldn’t find clear definition. Thanks. A
That’s operating assets. To calculate net you have to further deduct total liabilities and add back cash liabilities. So
NOA= (Total Assets - Cash assets) - (Total Liabilities - cash liabilites)
AR are not cash equivalent assets unless you sold receivables to factoring or securized them (in such case are not longer consdidered trade receivables account). However AR are monetary items so maybe this confuse you.