WORKING CAPITAL MANAGEMENT : STRATEGIES AND TECHNIQUES-------PHI
Working
capital is commonly understood as the fund needed to meet the
day-to-day expenses of an enterprise. A finance manager finds that the
funds for meeting these expenses get blocked in current assets. He
therefore, looks for liquidity support in net working capital (NWC),
which is equivalent to the excess of current assets over current
liabilities. A banker also looks at the size of NWC as the long-term
stake of the business in funding the current assets. But for a
production manager, liquidity is synonymous to uninterrupted supply of
material inputs to the production lines. Similarly for a marketing
manager, if there is no production, his marketing outlets dry up despite
demand in the market. While the finance manager discourages
overstocking of inventory, the production manager and the marketing
manager dread of being out of stock. In this conflict the goal of the
organization often takes a back seat. This book aims at resolving these
conflicts by adopting a techno-financial approach to working capital
management.
In the Third Edition a full chapter on Service Business: Risk Analysis and Working Capital Assessment has
been incorporated, which is devoted to understand the nature of service
business and the risks associated with it. It is followed by developing
a model for assessment of working capital requirement of a service
enterprise. Besides, the book is revised and updated extensively by
incorporating the current researches in the field; particular mention
can be made of Cash Pooling system, Bullwhip effect and newer approaches
to inventory recording system.
Throughout the book, every concept is presented with worked-out examples and case studies for easy comprehension of the subject.
This
book is recommended in Mizoram University, Aizawl for M.Com., Gauhati
University, Assam, North Eastern Hill University, Meghalaya, The
university of Burdwan, West Bengal for M.Com.
The book is primarily addressed to postgraduate students majoring in
Finance and to those pursuing professional courses in Accounts (CA) and
Cost Accounting (ICWA). The book will also be very useful to practising
finance managers as well as to purchase/materials managers.
Contents:
Preface
Preface to the Second Edition
Preface to the First Edition
1. WORKING CAPITAL: A TECHNO-FINANCIAL ANALYSIS
2. SERVICE BUSINESS: RISK ANALYSIS AND WORKING CAPITAL ASSESSMENT
3. THEORIES OF TRADE CREDIT
4. MANAGEMENT OF ACCOUNTS RECEIVABLE
5. INVENTORY STRATEGIES AND TECHNIQUES
6. LIQUIDITY AND CASH MANAGEMENT
7. MANAGEMENT OF ACCOUNTS PAYABLE
8. FINANCING WORKING CAPITAL GAP
9. CHANNEL SYSTEM, LOGISTICS AND FINANCING
Author Index
Subject Index