管理会计（第10版） 课件 Chapter 12 Managing working capital .ppt

Chapter12ManagingworkingcapitalManagementAccountingforDecisionMakersTenthEdition

LEARNINGOUTCOMESYoushouldbeableto:Discussthepurposeofworkingcapital,it’sscaleandthenatureoftheworkingcapitalcycleIdentifythemainelementsofworkingcapitalExplainthefactorsthathavetobetakenintoaccountwhenmanagingeachelementofworkingcapitalExplaintheimportanceofestablishingpoliciesforthecontrolofworkingcapital

ThenatureandpurposeofworkingcapitalMajorelementsMajorelementInventoriesTradereceivablesCash(inhandandatbank)TradepayableslessequalsCurrentliabilitiesWorkingcapitalCurrentassets

Figure12.1TheworkingcapitalcycleTradepayablesTrade

receivablesFinishedgoodsCash/

bankoverdraftWorkinprogressRawmaterialsCashsalesCreditsalesCash

Figure12.2Averageinvestment(indays)forthemainworkingcapitalelementsSource:Compiledfrominformationin‘Navigatinguncertainty:PwC’sannualglobalworkingcapitalstudy’,2018/19,.TradereceivablessettlementperiodInventoriesturnoverperiodTradepayablessettlementperiodDays040206050301047.948.141.051.92013201420152016201751.854.056.458.953.12013201420152016201758.258.860.462.968.02013201420152016201767.77080

InventoriesfinancingcostSource:Annualreportsofthebusinessesfortheyearsendedduring2018.BusinessTypeofoperationsCostofcapitalAverageinventoriesheldFinancingcostofholdinginventoriesOperatingprofit/(loss)Financingcostas%ofoperatingprofit/(loss)(a)(b)(a)×(b)%%AssociatedBritishFoodsFoodproducer9.2￡2,386m￡220m￡1,282m17BTGroupTelecoms8.9￡369m￡30m￡3,421m0Go-AheadTransport5.5￡17m￡1m￡121m1KingfisherDIY8.7￡2,574m￡224m￡580m39TescoSupermarket9.5￡2,617m￡249m￡2,606m10

ManaginginventoriesBudgetingfuturedemandFinancialratiosRecordingandreorderingsystemsInventorymanagementmodelsEnterpriseresourceplanning(ERP)systemsLevelsofcontrolJust-in-time(JIT)stockmanagementProceduresandtechniquesthatcanbeusedto