scholarly journals Features of accounting and controlling accounts receivable on enterprises, institutions, organizations of Ukraine

2020 ◽  
pp. 6-9
Author(s):  
Hanna BULKOT ◽  
Maryna KHUKALENKO
Keyword(s):  
Cash Flow ◽  
Business Environment ◽  
Debt Management ◽  
Business Growth ◽  
Information Transparency ◽  
Accounts Receivable ◽  
Financial Condition ◽  
Time Period ◽  
Long Time ◽  
And Control

Introduction. In the course of business activities of the enterprise (operational, investment and financial) relations with various individuals and legal entities emerge inevitably. They include suppliers and contractors, buyers, customers, banks etc. Accounts receivable arise in the course of these relationships. The issue of receivables is relevant and important for the organization of accounting of each enterprise, especially in the current business environment in Ukraine. Receivables affect the economic activity of any organization in such a way that receivables that are not closed for a long time (so the company has doubts about its return), respectively, first of all, worsen the financial condition of the company, and there is a deterioration in cash flow. Therefore, effective arrangement of settlements should directly help strengthen contractual discipline between contracting parties, increase the responsibility of the enterprise for the time period and fulfilling all payment obligations in full, accelerate cash flow, etc. The purpose of the paper is to analyze the issue of accounts receivable and their control, to develop proposals to improve accounting and monitoring accounts receivable, which will allow to improve their reflection and control in the future, without leading to the emergence of bad debts. Results. The article is devoted to the issue of accounts receivable, their accounting and control at enterprises, institutions, organizations of Ukraine. The theoretical and practical aspects of the interaction of the enterprise with the debtors and the emergence of the receivables were explored. Ways of improving the accounting and monitoring of accounts receivable were analyzed. Issues of controlling accounts receivable by activity of the enterprise were considered. Conclusion. Thus, receivables are an important component in the operation of any enterprise. Therefore, the organization of accounting receivables at enterprises of any ownership form contributes to the ordering of information; transparency, relevance and reliability of the data obtained with the settlements with debtors. It is important to anticipate and prevent an excessive increase in accounts receivable in advance because effective debt management is one of the prerequisites for successful business activity, since it creates the preconditions for rapid business growth and increased financial capacity of the company. The control over such accounts receivable, their systematic nature and periodicity are also important, improving the operation in terms of interaction with counterparties.

Analysis of the Management and Control System of Trade Receivables on the Effectiveness of the Corporate Cash Flow on PT. Enseval Putera Megatrading, tbk

2020 ◽  
Vol 2 (1) ◽  
pp. 75-87
Author(s):  
Syarifah Nuriah ◽  
Abdul Rakhman Laba ◽  
Muhammad Sobarsyah
Keyword(s):  
Control System ◽  
Cash Flow ◽  
Primary Data ◽  
Ratio Analysis ◽  
Financial Ratio ◽  
Accounts Receivable ◽  
Corporate Capital ◽  
Financial Ratio Analysis ◽  
Data Source ◽  
And Control

This study aims to determine the management and control system of trade receivables on the effectiveness of the cash flow company’s at PT. Enseval Putera Megatrading, Tbk. The data source used in this study is the primary data source, obtained directly from the company. The analytical method used for testing the management and control system of receivables on the effectiveness of cash flow is the analysis of financial ratios. In this study, the data used for analysis are qualitative data analysis and financial ratio analysis, namely the activity ratio (RTO, ACP, Arrears Ratio, and Billing Ratio). The results showed that (1) RTO of PT. Enseval Putera Megatrading, the highest rate in 2017 was 189 times, while the lowest RTO was in 2015 which was 115 times. This shows the normal level of turnover. The faster the payment terms, the better for the company, because the faster the working capital embedded in receivables returns to capital or cash, which means the higher the receivables turnover. (2) ACP or the average age of collection of receivables applied by companies, especially the value in 2017 is 2 days. This means that the company has been effective in managing its accounts receivable because the standard for collecting receivables set by the company is the repayment limit or due date no later than 7 (seven) to 90 (Ninety) calendar days from the billing statement received by the service user. (3) The Arrears Ratio, namely from 2014-2018, the largest was only 1.11%. This shows that the lower the arrears ratio, the better for the company, which means the company is able to handle its receivables properly. (4) Billing Ratio shows that from 2014-2018 the lowest that is 98.88% shows the greater the value of collectible receivables means the greater the percentage value of the collection ratio so that the better for the company because of the greater return on corporate capital. Then it can be concluded that the Billing Ratio of PT. Enseval Putera Megatrading, it's not working effectively.

scholarly journals SYSTEMIC APPROACH TO ENTERPRISE DEBT MANAGEMENT

2019 ◽  
pp. 70-79
Author(s):  
Ie. Mordan ◽  
A. Solomakha
Keyword(s):  
Management System ◽  
Practical Importance ◽  
Debt Management ◽  
Accounts Receivable ◽  
Effective System ◽  
Definition Of ◽  
Fierce Competition ◽  
And Control ◽  
Constituent Elements ◽  
Practical Recommendations

The article is devoted to generalization of theoretical bases and practical recommendations on improvement of the system of receivables management in the period of fierce competition and intensive development of debt relations between enterprises. In order to build an effective system, the management object - receivables - has been studied in detail. The approaches to understanding the nature of accounts receivable and the author's definition of it are distinguished. Receivables are grouped according to different classification characteristics, which is primarily of practical importance, allowing to build a clear system for accounting and analysis of the presence and movement of receivables and to form an effective system for their management by individual types. The reasons for the objective necessity of forming receivables as a certain form of working capital existence are identified. A thorough analysis of the concepts in the scientific literature of the concept of "management of accounts receivable". The researches made it possible to create a comprehensive system of receivables management, which is based on the interaction of the target, organizational, structural, management and information subsystems. A characteristic is given to each subsystem and its constituent elements. The subjects and objects of management are specified, their interaction is considered, goals and tasks are outlined. It is determined that the functions of the management system are analysis, planning, regulation and control, the principles on which it is based are continuity, periodicity, consistency, autonomy, prudence and full coverage, and the methods of management are psychological, economic, legal and alternative instruments. The implementation of the receivables management system implies the implementation of a series of sequential measures in the form of certain steps, which are considered in the work, aimed at reducing the risk of arrears or bad receivables. Keywords: accounts receivable, accounts receivable management, management system, accounts receivable.

TRANSFORMATION OF ACCOUNTING AND CONTROL ENVIRONMENT IN ORDER TO INCREASE THE INFORMATION TRANSPARENCY OF BUSINESS

2021 ◽  
Vol 4 (4) ◽  
pp. 116-121
Author(s):  
I. V. SAFONOVA ◽  
Keyword(s):  
Small Business ◽  
Business Environment ◽  
Current Situation ◽  
Digital Transformation ◽  
Control Environment ◽  
Information Transparency ◽  
And Control ◽  
Infor Mation

The purpose of this study is to assess the current situation and determine the key directions for the development of the formation and disclosure of reporting information of economic entities in order to increase the information transparency of the business environment in the context of digital transformation, taking into account the interests of different groups of users. The prerequisites for the increasing role of ensuring infor-mation transparency of the activities of subjects in the system of interaction «state – business – society». Particular attention in the article is paid to the problem of «informational secrecy» in small business organiza-tions and ways to solve it.

scholarly journals Overview of actions to strengthen financial stability of companies

2020 ◽  
Vol 159 ◽  
pp. 04016 ◽  
Author(s):  
Fariza Yerdavletova ◽  
Bayan Ermekbaeva ◽  
Gulnar Zhunissova ◽  
Zhanar Mukhametzhanova
Keyword(s):  
Cash Flow ◽  
Financial Stability ◽  
Cash Flows ◽  
Accounts Receivable ◽  
Financial Condition ◽  
Funding Sources ◽  
Return On Capital ◽  
Three Stages ◽  
Market Factors ◽  
Negative Factors

Based on a review of the recommendations of various scientists, the article presents measures to strengthen the solvency and financial stability of companies in various fields of production. These include effective receivables management, accelerated capital turnover, increased profits and cash flow. The article reveals the concept of financial stability as the main criteria of the company’s financial condition. As well the negative aspects of the financial condition of companies are discussed. All negative factors divided into three groups based on their characteristics: general economic factors, state factors, and market factors. The model of accounts receivable management, which includes three stages is presented. It is concluded that a high share of accounts receivable as part of assets can lead any company to loss of solvency. Ways to improve the structure of funding sources, aspects of increasing return on capital are considered. Several recommendations given to reduce the duration of capital turnover in order to increase the company’s solvency. As a factor of increasing profits a possible ways of minimizing costs are investigated. Ways of increasing production volumes are highlighted and described, measures to increase cash flow are analyzed. Considerable attention is paid to the irrational management of cash flows.

scholarly journals The net cash flow indicator of the order portfolio as an indicator of the contractor economic reliability

2021 ◽  
pp. 147-152
Author(s):  
D. A. Borisyuk ◽  
O. E. Astafieva
Keyword(s):  
Cash Flow ◽  
Free Cash Flow ◽  
Standard Approach ◽  
Main Element ◽  
Working Capital ◽  
Information Transparency ◽  
Financial Condition ◽  
The Subject ◽  
Modern Information ◽  
Operating Activities

Modern information transparency of the results of organizations’ activities determines the use of non-standard tools of financial and economic analysis. The purpose of the article is to show the variety of such tools as the main element used to assess the reliability of a contracting organization. A non-standard approach to the analysis of the sufficiency of free cash from operating activities and the efficiency of the use of working capital, taking into account the peculiarities of the contractor’s activities, is illustrated. The object of the study is the indicators of free cash flow from operating activities. The subject of the study is the features of the activities of contracting companies that determine the possibility of using a non-standard approach in analysing financial condition of organizations of this profile. The article reveals the differences between the widely used EBITDA indicator and the considered indicator of the net cash flow of the order portfolio.

Project cost control: a new method to plan and control costs in large projects

2016 ◽  
Vol 22 (6) ◽  
pp. 1247-1268 ◽  
Author(s):  
R. Jayaraman
Keyword(s):  
Cost Control ◽  
Cost Management ◽  
Roll Steel ◽  
Content Type ◽  
Steel Sheets ◽  
Time Period ◽  
Salutary Effect ◽  
Long Time ◽  
The Cost ◽  
And Control

Purpose The purpose of this paper is to reengineer the process of cost management in large projects. Design/methodology/approach Considering the fact most large projects overrun their budgets because of the long time period needed to completion, it was decided to reengineer the cost management. Accordingly costs allocated to packages were reviewed and changed on a dynamic basis. Different types of contingencies were provided. Concepts of package contingency and project contingency were introduced. These were based on the project buffer and feeding buffer concepts popularised by Eliyahu Goldratt. Findings The re-engineered method of cost control worked well and yielded better than expected results, leading to the setting up of a new world record in the completion time for setting up a million tonnes per annum continuous, tandem cold rolling mill to roll steel sheets. Research limitations/implications In view of the total success of the reengineered approach, which was tested out on a large project over three years, it is felt that other projects could also try out this technique, especially since it is along the lines proposed by Eliyahu Goldratt who is an authority on project management. However the success can be better understood if the results of the testing become available. To that extent the contents of the present paper have limitations. Practical implications Large projects can deploy the methodology and complete their projects on time and under budget. Social implications The reengineering of the cost management was done primarily with a view to complete projects under budget. Since many governments spend many billions of dollars on publicly funded projects for the welfare of citizens, the use of this technique could have a salutary effect on the cost. Originality/value The method was innovated in the company by the author’s team and deployed in a live project over four years for the first time to achieve world-class results.

Rancang Bangun Sistem Penerimaan Dan Mutasi Barang Pada PDAM Tirta Kerta Raharja

Sensi Journal ◽  
2020 ◽  
Vol 6 (2) ◽  
pp. 236-246
Author(s):  
Ilamsyah Ilamsyah ◽  
Yulianto Yulianto ◽  
Tri Vita Febriani
Keyword(s):  
System Analysis ◽  
Object Oriented ◽  
Analysis Method ◽  
Web Based ◽  
Visual Modeling ◽  
Long Time ◽  
The Right ◽  
And Control ◽  
Web Based System ◽  
The Web

The right and appropriate system of receiving and transferring goods is needed by the company. In the process of receiving and transferring goods from the central warehouse to the branch warehouse at PDAM Tirta Kerta Raharja, Tangerang Regency, which is currently done manually is still ineffective and inaccurate because the Head of Subdivision uses receipt documents, namely PPBP and mutation of goods, namely MPPW in the form of paper as a submission media. The Head of Subdivision enters the data of receipt and mutation of goods manually and requires a relatively long time because at the time of demand for the transfer of goods the Head of Subdivision must check the inventory of goods in the central warehouse first. Therefore, it is necessary to hold a design of information systems for the receipt and transfer of goods from the central warehouse to a web-based branch warehouse that is already database so that it is more effective, efficient and accurate. With the web-based system of receiving and transferring goods that are already datatabed, it can facilitate the Head of Subdivision in inputing data on the receipt and transfer of goods and control of stock inventory so that the Sub Head of Subdivision can do it periodically to make it more effective, efficient and accurate. The method of data collection is done by observing, interviewing and studying literature from various previous studies, while the system analysis method uses the Waterfall method which aims to solve a problem and uses design methods with visual modeling that is object oriented with UML while programming using PHP and MySQL as a database.

FINANCIAL CONTROLLING IN THE SYSTEM OF FINANCIAL MANAGEMENT

2018 ◽  
Vol 28 (1) ◽  
pp. 137-141
Author(s):  
Petya Yordanova – Dinova
Keyword(s):  
Comparative Analysis ◽  
Financial Management ◽  
Financial Stability ◽  
Business Environment ◽  
Innovative Approach ◽  
Financial Sustainability ◽  
The Common ◽  
The Difference ◽  
Effective Use ◽  
And Control

This paper explores the comparative analysis of the financial controlling, who is a result from the common controlling concept and the financial management. In the specialized literature, financial controlling is seen as an innovative approach to financial management. It is often presented as the most promising instrument of financial diagnostics. Generally speaking, financial controlling is seen as a process of managing the company`s assets which are valued in monetary measures. The difference between the financial management and the financial controlling is that the second covers all functions of management, analysis and control of finances, aiming at maximizing their effective use and increasing the value of the enterprise. Financial controlling is often seen as a function of the common practice of financial management. Its objective is to preserve the financial stability and financial sustainability of enterprises operating in a highly aggressive business environment.

THE USE OF HISTORICAL DATA IN ACCOUNTING RESEARCH: THE CASE OF THE AMERICAN SUGAR REFINING COMPANY

1997 ◽  
Vol 24 (2) ◽  
pp. 1-24 ◽  
Author(s):  
Robert Bricker ◽  
Kevin Brown
Keyword(s):  
Capital Market ◽  
Historical Data ◽  
Abnormal Returns ◽  
Deep Understanding ◽  
Historical Record ◽  
Historical Period ◽  
Financial Condition ◽  
A Value ◽  
Time Period ◽  
And Performance

In 1908, the American Sugar Refining Company (ASR) reversed its long-held policy of secrecy as to its financial condition and performance. Prior work, applying contemporary capital market methods to ASR security price data of that period, has suggested a value to ASR shareholders of this policy reversal. This paper examines the historical record of that time and presents additional evidence on this matter, particularly in terms of identifying potentially confounding events occurring during the period under study. The results of this analysis suggest a difficulty in attributing observed abnormal returns to ASR's secrecy policy reversal on the basis of the results obtained from applying capital markets methods. This analysis is useful for scholars interested in applying modern capital market methods to historical data. It highlights the significance of the possible effects of contemporaneous historical events, focuses attention on the importance of a deep understanding of the historical period studied, and suggests a value in combining historical and empirical-markets methods to gain a richer understanding of the events and conditions in the time period under study.

scholarly journals Internet page content analysis of north European Sea ports

2020 ◽  
Vol 5 (1) ◽  
Author(s):  
Olli-Pekka Hilmola ◽  
Andres Tolli ◽  
Ain Kiisler
Keyword(s):  
Content Analysis ◽  
Environmental Issues ◽  
Basic Design ◽  
Time Period ◽  
Long Time ◽  
Sea Ports ◽  
Selection Of

Abstract This study analyses 98 Internet pages of sea ports located in Sweden, Finland and Estonia during years 2017–2019. Aim of the study is to find, how website basic design is completed (colours and languages), how slogans, environmental issues, statistics and hinterland transports are reported. Based on the analysis, it appears as rather common that sea ports follow conservative selection of colours in their websites, where blue and white are clearly most popular. Typically, English and Swedish are as the most common used language, followed by Finnish, Russian and Estonian. In some rare cases, websites are offered in Chinese or German. Larger sea ports do have clear “slogans”, where smaller ones are just having lengthy justification for their existence. Environmental issues are increasing concern among sea ports, and these are mostly mentioned in details within Swedish actors. Providing statistics varies among companies, and in some sea ports these are provided from very long time period, where in others from just previous years or then only from last year (or even at all). It is common for companies to report that they have sustainable hinterland access, railway available.

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