Olympic Accounts Payable from 2010 to 2024

Below is the plot of the Accounts Payable of Olympic Steel over the last few years. An accounting item on the balance sheet that represents Olympic Steel obligation to pay off a short-term debt to its creditors. The accounts payable entry is usually reported under current liabilities. If accounts payable of Olympic Steel are not paid within the agreed terms, the payables are considered to be in default, which may trigger a penalty or interest payment, or the revocation of additional credit from the supplier. Accounts payable may also be considered a source of cash, since they represent funds being borrowed from suppliers. Given these cash flow considerations, suppliers have a natural inclination to push for shorter payment terms, while creditors want to lengthen the payment terms. It is the amount a company owes to suppliers or vendors for products or services received but not yet paid for. It represents the company's short-term liabilities. Olympic Steel's Accounts Payable historical data analysis aims to capture in quantitative terms the overall pattern of either growth or decline in Olympic Steel's overall financial position and show how it may be relating to other accounts over time.