應收款項管理和現金管理

Trade Receivables Management (應收款項管理)

應收款項影響到企業(yè)營運資本的管理，應收賬款增加，企業(yè)需要更多營運資本進行周轉。

1. Cost of Credit Sales（賒銷的成本）

Most business-to-business sales are made on credit. This leads to costs of:

>> financing the investment in the receivables;

>>bad debts;

>> administering receivables.

2. Factors to Consider When Offering Credit（賒銷需要考慮的因素）

When selling on credit, businesses need to consider the following:

√ Which customers should receive credit?

√ How much credit should be offered?

√ What period of credit should be offered?

√ Should discounts be offered for prompt payment?

3. Debt Factoring（保理）

Factoring involves a business selling substantially all its receivables to a financial institution that will pay up to 80% of the value of the receivables immediately and the rest when the customer pays. In return for agreed fees and finance charges, the business may receive: financing; sales ledger administration; and debt collection.

Types of agreement include:

>>Without recourse—means that the factor bears the risk of a customer defaulting.

>>With recourse—means that the bad debt reverts to the business.

Cash Management（現金管理）

1. Reasons for Holding Cash（持有現金原因）

√"Transactions" motive

√"Precautionary" motive

√"Speculative" motive (to buy in ahead of a shortage or price rise)

The major factors that determine how much cash a business holds are likely to be the following:

>>Predictability of cash flows

>>Interest rates (if interest rates are high the cost of borrowing becomes higher, more cash may be held.)

>>The availability of short-term finance (e.g. overdrafts) that may be used if cash balances become exhausted.

2. Cash Budget（現金預算）

Cash budgets can be used for forecasting cash requirements. These may be particularly important for smaller companies. Assumptions will need to be made, for example, about when customers will pay (i.e. the delay between making a sale and receiving the cash).

想了解更多關于營運資本管理或ACCA相關知識，歡迎查詢正保會計網校ACCA專欄。

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