Working Capital Management : Applications and Case Studies.

By: Sagner, JamesSeries: Wiley Corporate F&a SerPublisher: New York : John Wiley & Sons, Incorporated, 2014Copyright date: ©2014Edition: 1st edDescription: 1 online resource (307 pages)Content type: text Media type: computer Carrier type: online resourceISBN: 9781118933855Subject(s): Working capital.;Corporations -- Finance.;Cash management.;Working capital -- Case studies.;Corporations -- Finance -- Case studies.;Cash management -- Case studiesGenre/Form: Electronic books. Additional physical formats: Print version:: Working Capital Management : Applications and Case StudiesDDC classification: 658.15224 LOC classification: HG4028.W65 -- .S243 2014ebOnline resources: Click to View
Contents:
Cover -- Title Page -- Copyright -- Contents -- Preface -- Concept of the Book -- Acknowledgments -- Chapter 1 Concepts in Working Capital Management -- WORKING CAPITAL CONCEPTS -- Description of Working Capital Accounts -- Ideas Basic to Working Capital -- IMPROVING WORKING CAPITAL MANAGEMENT -- The Missing Working Capital Manager -- Payment Stream Matrix: First Draft -- Payment Steam Matrix: Final Version -- Overcoming Resistance to Change -- THE SIGNIFICANCE OF WORKING CAPITAL -- Working Capital: The Traditional View -- Working Capital: The Modern View -- COST AS THE WORKING CAPITAL ISSUE -- Working Capital Timeline -- Working Capital Cost Elements -- Illustrative Total Potential Savings -- Leisure Industry Working Capital Illustration -- APPLYING THESE IDEAS TO A REAL BUSINESS: BEST BUY -- What Is Best Buy's Industry? -- Working Capital at Best Buy -- SUMMARY -- NOTES -- Chapter 2 Working Capital Ratios and Other Metrics -- RATIO ANALYSIS -- How Ratios Are Constructed -- Liquidity -- Activity Utilization -- Profitability -- Leverage -- OTHER RATIOS AND THEIR APPLICATION -- Troy and RMA -- How Ratios Are Used -- OTHER METRICS -- Cash Conversion Cycle -- Dell Computer's CCC -- BENCHMARKING -- Methodology -- Working Capital Benchmarking -- Benchmarking Concerns -- GENERAL PROBLEMS IN THE USE OF RATIOS AND METRICS -- Fiscal Year -- Accrual Accounting -- Window Dressing -- Aggregated Data -- Off-Balance Sheet Obligations -- SUMMARY -- NOTES -- Chapter 3 Cash-Management and Fraud Prevention -- FORMS OF CASH -- Reactive Cash Management -- Essential Cash Management Elements -- PAPER TRANSACTIONS: LOCKBOXING -- Lockboxing Procedures -- How Does Lockboxing Reduce Float? -- How Does Lockboxing Prevent Fraud? -- PAPER TRANSACTIONS: DEPOSITORY ACCOUNTS -- Control of Access -- Multipurpose Accounts -- Too Many Accounts.
PAPER TRANSACTIONS: CONTROLLED DISBURSEMENT -- Controlled Disbursement Procedures -- Account Reconciliation -- How Does Controlled Disbursement Improve Float? -- How Does Controlled Disbursement Prevent Fraud? -- ELECTRONIC TRANSACTIONS -- Federal Wire Transfer -- Terminal-Based Electronic Payments -- Why Do Frauds Still Occur? -- FLOAT AND COST ISSUES -- Base Case -- Baseline -- Possible Improvements -- First Scenario -- Second Scenario -- SUMMARY -- NOTES -- Chapter 4 Cash-Credit and Short-Term Financial Instruments -- DEVELOPING A SHORT‐TERM FORECAST -- How to Use the Distribution Method -- CASH BUDGETING -- Information Required for the Cash Budget -- How to Prepare the Cash Budget -- CREDIT FINANCING -- Arranging for Bank Credit -- Lines of Credit -- Bank Returns on Lines of Credit -- Asset‐Based Financing -- SHORT‐TERM INVESTMENTS -- "No Effort Investments" and Equivalents -- "Some Effort" Investments and Equivalents -- Policies on Short‐Term Investing -- SUMMARY -- NOTES -- Chapter 5 Managing Bank Relationships -- THE CHANGING FINANCIAL LANDSCAPE -- Financial Deregulation -- BANK RELATIONSHIP MANAGEMENT -- Twenty-First-Century Banking -- Finance as the Gatekeeper to Banking Services -- CASH MOBILIZATION IN A MULTIBANK NETWORK -- Funds Mobilization -- Too Many Bank Accounts? -- Selecting the Bank -- GENERAL TERMS OF CREDIT FACILITIES -- The Basic Provisions -- Representations and Warranties -- Restrictions in Lines of Credit -- SPECIFIC TERMS IN CREDIT FACILITIES -- Pricing the Loan -- ONGOING BANK RELATIONSHIP CONCERNS -- Monitoring Compliance -- Control of Banking Records -- Periodic Relationship Reviews -- SUMMARY -- NOTES -- APPENDIX TO CHAPTER 5 Selecting Noncredit Banking Services -- THE REQUEST FOR PROPOSAL -- Issues Covered in RFPs -- Specific Service Issues -- Review of Pricing -- RFP EVALUATION -- Weighted Scoring of Proposals.
Managing Banking Relationships -- Chapter 6 Accounts Receivable and Working Capital Issues -- ELEMENTS OF RECEIVABLES MANAGEMENT -- Developing Receivables Policies -- Getting to Know You-Getting to Know Your Company! -- FLOAT OPPORTUNITIES IN MANAGING RECEIVABLES -- Calculating Receivables Float -- RECEIVABLES CYCLE MONITORING: RATIOS -- Receivables Ratio Analysis -- Interpretation of Receivables Ratios -- RECEIVABLES CYCLE MONITORING: THE AGING SCHEDULE -- Interpretation of the Aging Schedule -- SALES FINANCING -- Outsourcing Sales Financing -- CREDIT REPORTING -- Reporting on Business Creditworthiness -- Fixing a Company's Credit Score -- TERMS OF SALE -- Cash Discount Basics -- Cash Discount Decision Factors -- Other Discounts -- INVOICE GENERATION -- Invoice Design -- Invoice and Statement Timing -- Invoices versus Statements -- ASSET‐BASED FINANCING -- Receivables Factoring -- DEBT COLLECTION AGENCIES -- SUMMARY -- NOTES -- Chapter 7 Inventory and Working Capital Issues -- ELEMENTS OF INVENTORY MANAGEMENT -- Developing Inventory Policies -- Organizing for Inventory Management -- INVENTORY CYCLE MONITORING: RATIOS -- Supplemental Data -- INVENTORY CYCLE MONITORING: METRICS -- THE PURCHASING FUNCTION -- The Purchasing Cycle -- Purchasing Cycle Problems -- ANALYZING PURCHASING ACTIVITIES -- A Situation of Decentralized Purchasing -- Investigating a Company's Payables History -- EOQ AND JIT -- Economic Order Quantity -- Calculation of EOQ -- Just‐in‐Time -- WORK‐IN‐PROCESS -- WIP Cycle Management -- Benefits of Supply Chain Management -- Supply Chain Management Systems -- ABF: INVENTORY FINANCING -- Asset‐Based Lenders: Inventory -- SUMMARY -- NOTES -- Chapter 8 Payables and Working Capital Issues -- ELEMENTS OF PAYABLES MANAGEMENT -- Developing Payables Policies -- Organizing for Payables Management -- PAYABLES CYCLE MONITORING: RATIOS.
Payables Metrics -- THE ACCOUNTS PAYABLE FUNCTION -- Active versus Passive Payables Management -- Float Costs of Mismanaged Payables -- PAYABLES USING INTERNAL PROCESSES -- Checks, ACH, and Fedwire -- Costs of Check Issuance -- Procurement Cards -- PAYABLES OUTSOURCING -- Electronic Disbursements -- Freight Bills -- Comprehensive Payables Concepts -- CHECK PAYMENTS IN A COMPREHENSIVE PAYABLES ENVIRONMENT -- Benefits of Comprehensive Payables -- PAYROLL DISBURSEMENTS -- Mechanics of Direct Deposit -- Promoting Payroll Direct Deposit -- Paycards -- SUMMARY -- NOTES -- Chapter 9 International Working Capital -- CAPITALISM GOES GLOBAL -- Elements of International Working Capital -- Corporate Governance -- THE FINANCING OF INTERNATIONAL TRANSACTIONS -- Global Financial Risks -- Letter of Credit Concepts -- Letter of Credit Documentation -- THE FOREIGN EXCHANGE MARKETS -- FX Mechanisms -- Continuous Link Settlement versus Spot FX -- Factors Influencing FX Rates -- Multicurrency Accounts -- Electronic Payments -- COUNTRY RISK ANALYSIS -- Country Risk Experience -- OTHER SIGNIFICANT ISSUES IN INTERNATIONAL WORKING CAPITAL -- Structures to Manage FX -- EU Tax‐Advantaged Centers -- Cross‐Border Clearing and Settlement -- CULTURAL AND CORPORATE PRACTICES AFFECTING WORKING CAPITAL -- Cultural Differences -- Banking Practices -- Communications Infrastructure -- Legal and Tax Issues -- Time Zones and Language Barriers -- SUMMARY -- NOTES -- Chapter 10 Information and Working Capital -- INFORMATION TECHNOLOGY -- The Special Status of IT -- BANK INFORMATION TECHNOLOGY -- Development of Bank Systems -- Basic Transactional Functionality -- Modules for Standard Services -- Modules for Advanced Services -- INTERNET BANK TECHNOLOGY -- Responsibilities in Banking Decisions -- Benefits of Internet Bank Technology -- Disadvantages of Internet Bank Technology.
ERP: AN ALTERNATIVE APPROACH -- Why ERP? -- Advantages from ERP -- Disadvantages of ERP -- CHOOSING WORKING CAPITAL INFORMATION SYSTEMS -- Information System Problems? It's Easier to Unplug Than Sue -- Phase 1: Determine Requirements -- Phase 2: Conduct Vendor Search -- Phase 3: Provide Justification to Senior Management -- Information Principles -- SUMMARY -- NOTES -- Chapter 11 Managing the Working Capital Cycle -- RISK AND WORKING CAPITAL -- Risks Inherent in Working Capital -- TRADITIONAL RISK MANAGEMENT -- ENTERPRISE RISK MANAGEMENT -- THE ERM PROCESS -- EFFICIENCY AND WORKING CAPITAL -- Management Differences in Current Asset Accounts -- The Required Teamwork -- WORKING CAPITAL AND LIQUIDITY -- How to Measure and Manage Liquidity -- SUGGESTED ACTIONS -- General Ideas -- Banking Ideas -- Receivables Ideas -- Inventory Ideas -- Payables Ideas -- International Ideas -- Information Technology Ideas -- Ideas on Managing the Working Capital Cycle -- Changes to Working Capital Management-How to Get Started -- DEVELOPMENTS IN WORKING CAPITAL MANAGEMENT -- Twentieth‐ and Twenty‐First‐Century Business Models -- The Cost of a Transaction -- THE GIZMO DEAL: HOW DELAYS TURN PROFITS INTO LOSSES -- Accept or Decline the Deal? -- How These Situations Can Occur -- Interconnectivity in the Twenty‐First Century -- SUMMARY -- NOTES -- Chapter 12 Introduction to Working Capital Cases -- SEQUENCE OF THE CASES -- THE CONCEPT OF THE WORKING CAPITAL CASE -- Case Analysis: Defining the Problem -- CASE: WIDGET MANUFACTURING -- Company History -- The Cash Cycle -- Bank Relationships -- I.M. Cash Is Promoted -- Questions -- Arnold's Reaction -- Collection Activities -- Disbursement Activities -- U. R. Clueless Gives Advice -- Questions -- The Mexican Option -- Widget's Information Gap -- Questions -- SUGGESTED SOLUTIONS -- NOTE -- Cases on Working Capital Management.
CASE 1 Dinner Bell Hotel.
Summary: Stay liquid, think global, and better manage resources with this authoritative guide Working Capital Management is a comprehensive primer on keeping your business financially competitive in the face of limited access to short-term funds. With detailed insight applicable to each phase in the business cycle, this authoritative guide helps managers revamp current practices for more efficient use of assets and liabilities, including more stringent monitoring and planning of collections, disbursements, and balances. Readers will learn how to minimize investments in idle resources, and how to maximize the use of forecast data to better identify risk and the optimal use of available funds. Case studies illustrate the practical applications of the ideas presented, with particular attention given to cash budgeting, forecasting, banking relationships and other common scenarios with specific requirements. Managing a company's short-term resources is both an art and a science. Effectively maintaining funds for ongoing activities - and keeping those funds liquid, mobile, and available - is a masterful skillset lacking in business. Working Capital Management offers practical advice for managers in this challenging position, providing guidance that helps them: Learn the specific metrics at work in capital management, and the problems that they can cause Improve cash management with robust fraud protection and better use of short-term instruments Manage the issues that arise from accounts receivable, inventory, payables, information management, and international sources Develop an effective management system for key points in the working capital cycle The recent liquidity crisis in the U.S. has thrown the spotlight onto those companies that have adjusted well to credit contraction and the weakened economy, and these success stories - some of which are noted inSummary: the book - demonstrate that a positive business outcome can be accomplished. Working Capital Management provides a clear look at a complex issue, with practical, actionable, sustainable advice.
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Cover -- Title Page -- Copyright -- Contents -- Preface -- Concept of the Book -- Acknowledgments -- Chapter 1 Concepts in Working Capital Management -- WORKING CAPITAL CONCEPTS -- Description of Working Capital Accounts -- Ideas Basic to Working Capital -- IMPROVING WORKING CAPITAL MANAGEMENT -- The Missing Working Capital Manager -- Payment Stream Matrix: First Draft -- Payment Steam Matrix: Final Version -- Overcoming Resistance to Change -- THE SIGNIFICANCE OF WORKING CAPITAL -- Working Capital: The Traditional View -- Working Capital: The Modern View -- COST AS THE WORKING CAPITAL ISSUE -- Working Capital Timeline -- Working Capital Cost Elements -- Illustrative Total Potential Savings -- Leisure Industry Working Capital Illustration -- APPLYING THESE IDEAS TO A REAL BUSINESS: BEST BUY -- What Is Best Buy's Industry? -- Working Capital at Best Buy -- SUMMARY -- NOTES -- Chapter 2 Working Capital Ratios and Other Metrics -- RATIO ANALYSIS -- How Ratios Are Constructed -- Liquidity -- Activity Utilization -- Profitability -- Leverage -- OTHER RATIOS AND THEIR APPLICATION -- Troy and RMA -- How Ratios Are Used -- OTHER METRICS -- Cash Conversion Cycle -- Dell Computer's CCC -- BENCHMARKING -- Methodology -- Working Capital Benchmarking -- Benchmarking Concerns -- GENERAL PROBLEMS IN THE USE OF RATIOS AND METRICS -- Fiscal Year -- Accrual Accounting -- Window Dressing -- Aggregated Data -- Off-Balance Sheet Obligations -- SUMMARY -- NOTES -- Chapter 3 Cash-Management and Fraud Prevention -- FORMS OF CASH -- Reactive Cash Management -- Essential Cash Management Elements -- PAPER TRANSACTIONS: LOCKBOXING -- Lockboxing Procedures -- How Does Lockboxing Reduce Float? -- How Does Lockboxing Prevent Fraud? -- PAPER TRANSACTIONS: DEPOSITORY ACCOUNTS -- Control of Access -- Multipurpose Accounts -- Too Many Accounts.

PAPER TRANSACTIONS: CONTROLLED DISBURSEMENT -- Controlled Disbursement Procedures -- Account Reconciliation -- How Does Controlled Disbursement Improve Float? -- How Does Controlled Disbursement Prevent Fraud? -- ELECTRONIC TRANSACTIONS -- Federal Wire Transfer -- Terminal-Based Electronic Payments -- Why Do Frauds Still Occur? -- FLOAT AND COST ISSUES -- Base Case -- Baseline -- Possible Improvements -- First Scenario -- Second Scenario -- SUMMARY -- NOTES -- Chapter 4 Cash-Credit and Short-Term Financial Instruments -- DEVELOPING A SHORT‐TERM FORECAST -- How to Use the Distribution Method -- CASH BUDGETING -- Information Required for the Cash Budget -- How to Prepare the Cash Budget -- CREDIT FINANCING -- Arranging for Bank Credit -- Lines of Credit -- Bank Returns on Lines of Credit -- Asset‐Based Financing -- SHORT‐TERM INVESTMENTS -- "No Effort Investments" and Equivalents -- "Some Effort" Investments and Equivalents -- Policies on Short‐Term Investing -- SUMMARY -- NOTES -- Chapter 5 Managing Bank Relationships -- THE CHANGING FINANCIAL LANDSCAPE -- Financial Deregulation -- BANK RELATIONSHIP MANAGEMENT -- Twenty-First-Century Banking -- Finance as the Gatekeeper to Banking Services -- CASH MOBILIZATION IN A MULTIBANK NETWORK -- Funds Mobilization -- Too Many Bank Accounts? -- Selecting the Bank -- GENERAL TERMS OF CREDIT FACILITIES -- The Basic Provisions -- Representations and Warranties -- Restrictions in Lines of Credit -- SPECIFIC TERMS IN CREDIT FACILITIES -- Pricing the Loan -- ONGOING BANK RELATIONSHIP CONCERNS -- Monitoring Compliance -- Control of Banking Records -- Periodic Relationship Reviews -- SUMMARY -- NOTES -- APPENDIX TO CHAPTER 5 Selecting Noncredit Banking Services -- THE REQUEST FOR PROPOSAL -- Issues Covered in RFPs -- Specific Service Issues -- Review of Pricing -- RFP EVALUATION -- Weighted Scoring of Proposals.

Managing Banking Relationships -- Chapter 6 Accounts Receivable and Working Capital Issues -- ELEMENTS OF RECEIVABLES MANAGEMENT -- Developing Receivables Policies -- Getting to Know You-Getting to Know Your Company! -- FLOAT OPPORTUNITIES IN MANAGING RECEIVABLES -- Calculating Receivables Float -- RECEIVABLES CYCLE MONITORING: RATIOS -- Receivables Ratio Analysis -- Interpretation of Receivables Ratios -- RECEIVABLES CYCLE MONITORING: THE AGING SCHEDULE -- Interpretation of the Aging Schedule -- SALES FINANCING -- Outsourcing Sales Financing -- CREDIT REPORTING -- Reporting on Business Creditworthiness -- Fixing a Company's Credit Score -- TERMS OF SALE -- Cash Discount Basics -- Cash Discount Decision Factors -- Other Discounts -- INVOICE GENERATION -- Invoice Design -- Invoice and Statement Timing -- Invoices versus Statements -- ASSET‐BASED FINANCING -- Receivables Factoring -- DEBT COLLECTION AGENCIES -- SUMMARY -- NOTES -- Chapter 7 Inventory and Working Capital Issues -- ELEMENTS OF INVENTORY MANAGEMENT -- Developing Inventory Policies -- Organizing for Inventory Management -- INVENTORY CYCLE MONITORING: RATIOS -- Supplemental Data -- INVENTORY CYCLE MONITORING: METRICS -- THE PURCHASING FUNCTION -- The Purchasing Cycle -- Purchasing Cycle Problems -- ANALYZING PURCHASING ACTIVITIES -- A Situation of Decentralized Purchasing -- Investigating a Company's Payables History -- EOQ AND JIT -- Economic Order Quantity -- Calculation of EOQ -- Just‐in‐Time -- WORK‐IN‐PROCESS -- WIP Cycle Management -- Benefits of Supply Chain Management -- Supply Chain Management Systems -- ABF: INVENTORY FINANCING -- Asset‐Based Lenders: Inventory -- SUMMARY -- NOTES -- Chapter 8 Payables and Working Capital Issues -- ELEMENTS OF PAYABLES MANAGEMENT -- Developing Payables Policies -- Organizing for Payables Management -- PAYABLES CYCLE MONITORING: RATIOS.

Payables Metrics -- THE ACCOUNTS PAYABLE FUNCTION -- Active versus Passive Payables Management -- Float Costs of Mismanaged Payables -- PAYABLES USING INTERNAL PROCESSES -- Checks, ACH, and Fedwire -- Costs of Check Issuance -- Procurement Cards -- PAYABLES OUTSOURCING -- Electronic Disbursements -- Freight Bills -- Comprehensive Payables Concepts -- CHECK PAYMENTS IN A COMPREHENSIVE PAYABLES ENVIRONMENT -- Benefits of Comprehensive Payables -- PAYROLL DISBURSEMENTS -- Mechanics of Direct Deposit -- Promoting Payroll Direct Deposit -- Paycards -- SUMMARY -- NOTES -- Chapter 9 International Working Capital -- CAPITALISM GOES GLOBAL -- Elements of International Working Capital -- Corporate Governance -- THE FINANCING OF INTERNATIONAL TRANSACTIONS -- Global Financial Risks -- Letter of Credit Concepts -- Letter of Credit Documentation -- THE FOREIGN EXCHANGE MARKETS -- FX Mechanisms -- Continuous Link Settlement versus Spot FX -- Factors Influencing FX Rates -- Multicurrency Accounts -- Electronic Payments -- COUNTRY RISK ANALYSIS -- Country Risk Experience -- OTHER SIGNIFICANT ISSUES IN INTERNATIONAL WORKING CAPITAL -- Structures to Manage FX -- EU Tax‐Advantaged Centers -- Cross‐Border Clearing and Settlement -- CULTURAL AND CORPORATE PRACTICES AFFECTING WORKING CAPITAL -- Cultural Differences -- Banking Practices -- Communications Infrastructure -- Legal and Tax Issues -- Time Zones and Language Barriers -- SUMMARY -- NOTES -- Chapter 10 Information and Working Capital -- INFORMATION TECHNOLOGY -- The Special Status of IT -- BANK INFORMATION TECHNOLOGY -- Development of Bank Systems -- Basic Transactional Functionality -- Modules for Standard Services -- Modules for Advanced Services -- INTERNET BANK TECHNOLOGY -- Responsibilities in Banking Decisions -- Benefits of Internet Bank Technology -- Disadvantages of Internet Bank Technology.

ERP: AN ALTERNATIVE APPROACH -- Why ERP? -- Advantages from ERP -- Disadvantages of ERP -- CHOOSING WORKING CAPITAL INFORMATION SYSTEMS -- Information System Problems? It's Easier to Unplug Than Sue -- Phase 1: Determine Requirements -- Phase 2: Conduct Vendor Search -- Phase 3: Provide Justification to Senior Management -- Information Principles -- SUMMARY -- NOTES -- Chapter 11 Managing the Working Capital Cycle -- RISK AND WORKING CAPITAL -- Risks Inherent in Working Capital -- TRADITIONAL RISK MANAGEMENT -- ENTERPRISE RISK MANAGEMENT -- THE ERM PROCESS -- EFFICIENCY AND WORKING CAPITAL -- Management Differences in Current Asset Accounts -- The Required Teamwork -- WORKING CAPITAL AND LIQUIDITY -- How to Measure and Manage Liquidity -- SUGGESTED ACTIONS -- General Ideas -- Banking Ideas -- Receivables Ideas -- Inventory Ideas -- Payables Ideas -- International Ideas -- Information Technology Ideas -- Ideas on Managing the Working Capital Cycle -- Changes to Working Capital Management-How to Get Started -- DEVELOPMENTS IN WORKING CAPITAL MANAGEMENT -- Twentieth‐ and Twenty‐First‐Century Business Models -- The Cost of a Transaction -- THE GIZMO DEAL: HOW DELAYS TURN PROFITS INTO LOSSES -- Accept or Decline the Deal? -- How These Situations Can Occur -- Interconnectivity in the Twenty‐First Century -- SUMMARY -- NOTES -- Chapter 12 Introduction to Working Capital Cases -- SEQUENCE OF THE CASES -- THE CONCEPT OF THE WORKING CAPITAL CASE -- Case Analysis: Defining the Problem -- CASE: WIDGET MANUFACTURING -- Company History -- The Cash Cycle -- Bank Relationships -- I.M. Cash Is Promoted -- Questions -- Arnold's Reaction -- Collection Activities -- Disbursement Activities -- U. R. Clueless Gives Advice -- Questions -- The Mexican Option -- Widget's Information Gap -- Questions -- SUGGESTED SOLUTIONS -- NOTE -- Cases on Working Capital Management.

CASE 1 Dinner Bell Hotel.

Stay liquid, think global, and better manage resources with this authoritative guide Working Capital Management is a comprehensive primer on keeping your business financially competitive in the face of limited access to short-term funds. With detailed insight applicable to each phase in the business cycle, this authoritative guide helps managers revamp current practices for more efficient use of assets and liabilities, including more stringent monitoring and planning of collections, disbursements, and balances. Readers will learn how to minimize investments in idle resources, and how to maximize the use of forecast data to better identify risk and the optimal use of available funds. Case studies illustrate the practical applications of the ideas presented, with particular attention given to cash budgeting, forecasting, banking relationships and other common scenarios with specific requirements. Managing a company's short-term resources is both an art and a science. Effectively maintaining funds for ongoing activities - and keeping those funds liquid, mobile, and available - is a masterful skillset lacking in business. Working Capital Management offers practical advice for managers in this challenging position, providing guidance that helps them: Learn the specific metrics at work in capital management, and the problems that they can cause Improve cash management with robust fraud protection and better use of short-term instruments Manage the issues that arise from accounts receivable, inventory, payables, information management, and international sources Develop an effective management system for key points in the working capital cycle The recent liquidity crisis in the U.S. has thrown the spotlight onto those companies that have adjusted well to credit contraction and the weakened economy, and these success stories - some of which are noted in

the book - demonstrate that a positive business outcome can be accomplished. Working Capital Management provides a clear look at a complex issue, with practical, actionable, sustainable advice.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2019. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.

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