TAILIEUCHUNG - Lecture Managerial finance - Chapter 22: Working capital management

Chapter 22 provides knowledge of working capital management. This chapter presents the following content: Alternative working capital policies; cash, inventory, and A/R management; accounts payable management; short-term financing policies; bank debt and commercial paper. | CHAPTER 22 Working Capital Management Topics in Chapter Alternative working capital policies Cash, inventory, and A/R management Accounts payable management Short-term financing policies Bank debt and commercial paper 1 Definitions Working capital management: Includes both establishing working capital policy and then the day-to-day control of cash, inventories, receivables, accruals, and accounts payable. Working capital policy: The level of each current asset. How current assets are financed. 2 Cash Conversion Cycle The cash conversion cycle focuses on the time between payments made for materials and labor and payments received from sales: Cash Conversion = Cycle Inventory Conversion + Period Receivables Collection - Period Payables Deferral . Period Cash Conversion Cycle (Cont.) CCC = + – CCC = + – 30 CCC = + – 30 CCC = days. Days per year Inv. turnover Payables deferral period Days sales outstanding 365 Cash Management: Cash doesn’t earn .

• Tài chính doanh nghiệp
• Managerial finance
• Lecture Managerial finance
• Financial statements
• Working capital management
• Accounts payable management
• Short term financing policies
• Principles of managerial finance
• Lecture Principles of managerial finance
• Environment of managerial finance
• Financial services
• Career opportunities
• Financial analysis
• Cash flow
• Financial planning
• Time value of money
• Future calue
• Risk and Return Fundamentals
• Interest rates
• Bond valuation
• Stock valuation
• Equity capital
• International managerial finance
• Capital budgeting cash flow
• Incremental cash flows
• Capital budgeting techniques
• Net present value
• The cost of capital
• Cost of long term debt
• Marginal cost
• Breakeven analysis
• Capital structure
• Operating breakeven point
• Working capital
• Current asset management
• Spontaneous liabilities
• Short term loans
• Financial options
• Corporate finance
• Option terminology
• Dividend policy
• The financial market environment
• Corporate governance
• Managerial behavior
• Stock options
• Capital budgeting cash flows
• Payout policy
• Current liabilities management
• Business organization
• Maximize wealth
• Financial securities
• Free cash flows
• Future value
• Present value
• Rates of return
• Balance sheet
• Personal taxes