The following formula is involved in the calculation of returns on freed cash:

Return on freed cash:
where R is the rate of return and AR_{1} and AR_{2} are the accounts receivable balances at time 1 and time 2.

The following references can be used to cite this return on freed cash calculator:
 Soper, D.S. (2018) "Return on Freed Cash Calculator (Online Software)", http://www.danielsoper.com/fincalc. 
 Siegel, J. and Shim, J. (1997). "Schaum's Quick Guide to Business Formulas", New York, NY: McGrawHill. 