操作的周转资本管理.ppt

ORGANIZATION CHART
Finance Director Deputy Finance Director Secretary
Credit Management
Treasury Division
Financial Accounting Division
Financial Control Division
OWC is concluded as follows OWC = Advance Payment + Inventory +AR - AP OWC yield = sales / average OWC
FINANCIAL MANAGEMENT DEPT., ALCATEL
Jul. 2002, Page 5.
Accounting is a magic (cooking) Enron event Worldcom event
FINANCIAL MANAGEMENT DEPT., ALCATEL
Jul. 2002, Page 3.
Working Capital vs OWC
Working Capital Working Capital Balance Sheet Working Capital = Current AssetsHale Waihona Puke Baidu- Current Liability
Operational Working Capital Management
------Financing Schemes in Receivables Management
Alcatel-2002 Wu Yajun
FINANCIAL MANAGEMENT DEPT., ALCATEL
Jul. 2002, Page 1.
Working Capital vs OWC
Cash is the beginning point and the ending point within the cash flow, but cash does not involve in the cash flow. Cash is not operational asset generally
Cost Accounting A/P Accounting Statistic Statement
Expense Budget Control
Fixed Assets Budget Control
Reporting
FINANCIAL MANAGEMENT DEPT., ALCATEL
Jul. 2002, Page 2.
FINANCIAL MANAGEMENT DEPT., ALCATEL
Jul. 2002, Page 6.
Credit Management
through business circulation
Customer Accept.
Procedure
Contract&Order Processing
Credit Magt.Ci rculatio
——Credit Value Assessment
Credit Value Assessment financial reports analysis financial ratios analysis 5C standards analysis Character, Capacity, Capital, Collateral, Condition aging analysis of receivables and overdue
What is Accounting
Accounting is a science GAAP A dialogue between a missile expert and accounting professor
Accounting is an art Importance principal Accounting estimate, accounting accrual, accounting provision,etc
OWC OWC Cash flow statement operation activities investment activities financing activities
Cash Concept
FINANCIAL MANAGEMENT DEPT., ALCATEL
Jul. 2002, Page 4.
Taxation
IS
Credit Analysis RAC TPF
Collection Management
Banking Relationship Transaction
Reporting&Analysis Insurance
General Ledger
A/R Accounting
Fixed Assets Accounting
n
Goods Delivery Procedure
Collection&Follo w-up of overdue
FINANCIAL MANAGEMENT DEPT., ALCATEL
Billing&Process
Acct. Receivable
Jul. 2002, Page 7.
Receivables Management
Take Attribute Analysis Model to assess credit of the customer Use the three categories information to grade each customer the customer characteristics
OWC management
OWC draws more and more attention in modern society Inventory Management
Inventory Turnover = COGS /Average Inventory Just In Time Concept Accounts Receivables Management Receivables magt. becomes more and more important now Credit assessment through business circulation Financing Schemes