Read e-book online The Managing Cashflow Pocketbook PDF

By Anne Hawkins;Clive Turner

ISBN-10: 1870471334

ISBN-13: 9781870471336

The stability Sheet Pocketbook (Finance) КНИГИ ;БИЗНЕС Автор:неизвестно Название:The stability Sheet Pocketbook (Finance)Издательство:Management PocketbooksГод:1995Формат: PDF Размер:1 MB Для сайта:“A uniquely available advisor - in the event you in basic terms learn one booklet on finance, learn this!”Peter Colley, Director of Finance and club providers, RAC Motoring companies Ltd“The authors’ wealth of sensible event and realizing of the road manager’s standpoint is totally mirrored during this transparent and readable book.”скачать zero

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Remember: Depreciation is included as a cost in calculating Operating Profit but is then ‘added back’ in the cashflow statement (page 32). 45 ££ IMPROVING CASHFLOW WORKING CAPITAL STOCKS/DEBTORS/CREDITORS ■ To improve Cashflow: Decrease Stock Decrease Debtors Increase Creditors BUT NOTE opposite movements will consume cash! These issues are discussed in detail in a subsequent section, Managing Working Capital. 46 ££ IMPROVING CASHFLOW INTEREST PAID ■ To improve cashflow: Reduce interest paid Interest paid is determined by: ● ● Amount borrowed Rate charged Hence: AIM TO MINIMISE BORROWINGS AIM TO MINIMISE RATES 47 ££ IMPROVING CASHFLOW INTEREST PAID Aim: Minimise Borrowings 48 ● Self-financing - If possible reduce Loan Capital or the Bank Overdraft through self - financing, by generating and retaining profit ● Eliminate surplus investment - Every £1 invested in the business has to come from somewhere ie: Use of Funds equals Source of Funds Net Assets Employed equals Net Capital Employed - Loans form part of most companies’ Source of Funds - Hence, by controlling Use of Funds, eg: eliminating surplus fixed assets and working capital, Source of Funds can be reduced, giving businesses the opportunity to reduce borrowings A Business Financial Model explaining these concepts is developed in ‘The Balance Sheet Pocketbook’.

How much Working Capital does it have? 60 MANAGING WORKING CAPITAL HOW MUCH SHOULD I HAVE? You should have as little Working Capital as possible, consistent with maximising business profitability! The objectives are to complete the Working Capital Cycle: 1 As fast as possible Why? - minimise the investment and hence improve the return - reduce risk (see pages 62-3) 2 As frequently as possible Why? - completing the cycle generates profit and cash 61 MANAGING WORKING CAPITAL HOW MUCH WORKING CAPITAL?

Businesses raise Long-term money (Source of Funds) in order to invest it in the business (Use of Funds) ● Investment is required to provide: - Facilities/Processes (Accountant’s jargon: Fixed Assets) - Products/Services (Accountant’s jargon: Working Capital) These terms and the Working Capital cycle are explained in The Balance Sheet Pocketbook. 58 MANAGING WORKING CAPITAL WHAT IS WORKING CAPITAL? CREDITORS/PAYABLES WORKING CAPITAL CYCLE CASH DEBTORS/ RECEIVABLES FINISHED GOODS RAW MATERIALS WORK IN PROGRESS CURRENT ASSETS CURRENT LIABILITIES 1 Working Capital = Current Assets less Current Liabilities - the amount the business has invested in products/services (stock + debtors + cash) less the value of goods and services owed to suppliers (creditors) 2 Stock = Raw Material + Work in Progress + Finished Goods 59 MANAGING WORKING CAPITAL HOW MUCH WORKING CAPITAL IS REQUIRED?

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The Managing Cashflow Pocketbook by Anne Hawkins;Clive Turner

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