Firms sell their goods and services to their customers and collect revenue.  Almost all firms bill their clients and have an accounts receivable account.  So what happens when the amount is not yet invoiced to the client?  Ever wonder how significant these unbilled receivables are?  Look no further than Calcbench.  We randomly selected a 10-K filing that came in on 2/14/2014 Lockheed Martin (LMT).  Using the Calcbench Query Footnotes tool, one is able to extract information on unbilled receivables in seconds.    Returned are all the notes that contain the unbilled receivables text.  Near the top is the “schedule of Accounts Notes Loans and Financing Receivable” and clicking on this note returns the table of unbilled receivables. 

You can go even further!  Highlight and double click on the number 4,767 for 2013 in the “Unbilled Costs and accrued profits” line.  You will be given the values and the tags used by the firm to depict this line item, and get the history of values reported by the company for this tag.  Armed with this information, users may input this tag in the Calcbench Benchmark tool to see other firms that report this line item and to what extent!  See below!!

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