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Description
(Short description)
Working capital represents the net current assets that are tied up by operations. It isconsidered to be committed, non-interest-bearing or "dead" capital that reduces not onlythe liquidity of the company but also its return on capital.
(Text)
Working capital represents the net current assets that are tied up by operations. It is
considered to be committed, non-interest-bearing or "dead" capital that reduces not only
the liquidity of the company but also its return on capital. Working capital should therefore
be as low as possible.
This guideline aims to support the successful and sustained optimisation of working capital.
It provides concrete recommendations for the three core elements of
inventories,
receivables and
payables.
As process control is the key to good working capital management, and because the
relevant processes impact the essential functional areas of a company in a way that might
lead to conflicts, process management and potential areas of conflict receive a focus of
elaboration.
The guideline results from a nearly 3-year discussion and work process by the Working
Capital Management Expert Group of the Internationaler Controller Verein.
(Table of content)
Introduction and overview
1 Fundamentals of working capital management
1.1 Setting objectives
1.2 Definition and calculation
1.3 Processes
1.4 Key performance indicators
2 Financial effects and challenges of working capital management
(Extract)
3.2 Receivables management - Order-to-Cash process
3.2.1 Process objective
Delayed settlement of receivables or even complete write-offs belongs
still to the main reasons why companies get into financial difficulty.
Accordingly, no matter what the sector, this area plays a very important
role in working capital management to safeguard the liquidity of the
company and reduce the risk of payment delays or bad-debt losses.
...
(Author portrait)
Dr. Hendrik Vater ist Mitglied des Vorstands und Chief Financial Officer der italienischen Landesgesellschaft eines führenden deutschen DAX-30 Konzerns mit Sitz in Mailand. Er ist Autor von mehreren Büchern zur internationalen Rechnungslegung, Besteuerung und Finanzierung.
