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KEEPING THE CASH FLOWING THE PRINCIPLES AND PRACTICE OF MODERN TRADE CREDIT MANAGEMENT IN POLAND'S ECONOMY MARKET


PATTERSON R. WEJER-KUDEŁKO M.

wydawnictwo: CEDEWU, 2018, wydanie I

cena netto: 92.10 Twoja cena  87,50 zł + 5% vat - dodaj do koszyka

Keeping the cash flowing the principles and practice of modern trade credit management in Poland's economy market


This book explores an important but often neglected aspect of a firm's finances: trade credit management (TCM).

When firms offering credit to each other so purchases can be made on open account it is a vital source of business-to-business credit flows. Trade credit is the life-blood of competitive economies. Trade credit involves taking calculated credit risks. In return, selling firms boost sales and profitability. Buying firms get access to credit. But trade credit has to be carefully managed. To generate cash, accounts receivable need to be collected. In the meantime, working capital must be managed so that cash flow is sufficient to pay the firm's bills. The price of error is financial distress and even bankruptcy. The book explores the topic from many angles and is anchored in the hard realities of Poland's marketplace. Particular attention is paid to the dynamics of trade credit in small to medium enterprises, firms which often have special needs.

The focus of this book is threefold:

• the analysis of the role of TCM from inside and outside of the firm;
• a detailed investigation of best practice in TCM collection processes;
• the presentation of issues concerning working capital management.


AUTHORS‘ FOREWARD

PART I: Big Picture Overview

LOOKING INSIDE THE FIRM
I. The Accounts Receivable Investment
Why Carry Accounts receivable?
Measuring the Receivables Investment
Trade Credit and Elasticity of Demand
What Does Offering Trade Credit Cost?
II. The Perennial Finance-Sales Tension
III. The Psychological Dimension of TCM
Easily Overlooked
Leaning on the Trade
Collection Games
The Role of Confidence in Patience

LOOKING OUTSIDE THE FIRM
IV. Macro-economic Conditions
Business Failure: Bad Debts
How Much Risk Is Out There? Bankruptcy Patterns in Poland
Bad Debts as a Cost of Business
The Credit Cycle
Industry Patterns in TCM
V. Institutional Infrastructure
Legal Status of Unsecured Trade Debt
Access to Bank Credit
Trust and Business Confidence
Credit Information Infrastructure
Credit Bureau-Generated Credit Scores
Polish Market

PART II: The TCM Collections Cycle

OVERVIEW OF THE TCM COLLECTIONS CYCLE
I. Formulating A Credit Policy
Strategic context
Terms of sales: Liberal or Tight?
II. Information Gathering
Information Appetite
Customer Files
Establishing Identity
Guarding Against the Possibility of Fraud
Information Sources
Trade References
The Economics of Search Costs
III. Credit Risk Assessment
The Five Cs in Action
Setting Credit Limits
Credit Scoring
IV. Monitoring & Collection
Collection Steps
V. Dealing With Default
Dunning

PART III: Financial Management Issues

I. Liquidity Management
TCM & Liquidity Management
Arranging bank credit
Accounts Payable Management
Cash Management
II. Overtrading
III. Risk Transference
Bank Letter of Credit (L/C)
Domestic Credit Insurance
Factoring

APPENDIX A
Some Suggested TCM Reforms

APPENDIX B
Useful Websites

APPENDIX C
Glossary of Trade Credit Management Terms

REFERENCES


246 pages, Paperback

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