+7 (925) 966 4690
ИД «Финансы и кредит»

ЖУРНАЛЫ

  

АВТОРАМ

  

ПОДПИСКА

    
«Дайджест-Финансы»
 

Включен в перечень ВАК по специальностям

ЭКОНОМИЧЕСКИЕ,
ФИЗИКО-МАТЕМАТИЧЕСКИЕ НАУКИ:
5.2.2. Математические, статистические и инструментальные методы в экономике

ЭКОНОМИЧЕСКИЕ НАУКИ:
5.2.4. Финансы
5.2.5. Мировая экономика
5.2.6. Менеджмент

Реферирование и индексирование

РИНЦ
Referativny Zhurnal VINITI RAS
Google Scholar

Электронные версии в PDF

East View Information Services
eLIBRARY.RU
Biblioclub


Лицензия Creative Commons
Это произведение доступно по лицензии Creative Commons «Attribution» («Атрибуция») 4.0 Всемирная.

Updating the Existing Approaches to Gauging the Length of Operating and Cash Conversion Cycles

т. 23, вып. 3, сентябрь 2018

PDF  PDF-версия статьи

Получена: 28.06.2018

Получена в доработанном виде: 12.07.2018

Одобрена: 23.07.2018

Доступна онлайн: 28.09.2018

Рубрика: RISK, ANALYSIS AND EVALUATION

Коды JEL: O12, Q01

Страницы: 274-288

https://doi.org/10.24891/df.23.3.274

Savitskaya G.V. Belarus State Economic University (BSEU), Minsk, Republic of Belarus 
glafira.savickaja@mail.ru

ORCID id: отсутствует
SPIN-код: отсутствует

Importance Operating and cash conversion cycles are one of the key performance indicators of working capital management. If they last longer, more working capital is required, while their decrease has the opposite effect. The duration measurement methodology is a frequent subject of discussion in the scholarly and training literature. However, there are dissenting opinions on their substance and measurement technique.
Objectives The research comprehensively studies challenging aspects of the methodology for measuring the duration of operating and cash conversion cycles and substantiates my own viewpoint on the issues.
Methods The theoretical and methodological framework comprises proceedings of the national and foreign economists majoring in financial analysis. I also use the historical approach, generic and special methods of analysis, synthesis and analogy.
Results I specify the economic substance and technique to gauge the duration of operating and cash conversion cycles and their constituents. To make the computations more precise, it is advisable to estimate inventories, receivables and payables using monthly or even daily balances, which are quite feasible as accounting and analytical data are processed electronically.
Conclusions and Relevance The proposed approach may serve as a basis for further development of the financial analysis methodology and methodological guide for business entities to monitor and make business decisions in the process of working capital management.

Ключевые слова: operating cycle, cash conversion cycle, calculation algorithm

Список литературы:

  1. Blank I.A. Upravlenie denezhnymi potokami [Cash flow management]. Kiev, Nika-Tsentr Publ., 2002, 736 p.
  2. Krylov S.I. [Methods to analyze current assets of a commercial organization]. Finansovyi vestnik: finansy, nalogi, strakhovanie, bukhgalterskii uchet = Financial Bulletin: Finance, Taxes, Insurance, Accounting, 2010, no. 3, pp. 10–15. (In Russ.)
  3. Basharina A.V. [Developing the methodology for defining the operational cycle duration]. Finansovaya analitika: problemy i resheniya = Financial Analytics: Science and Experience, 2012, no. 40, pp. 30–35. URL: Link (In Russ.)
  4. Sukhova L.F., Feronova A.V. [Experimental calculations of working capital efficiency on the consumer cooperation case using the computation algorithms for turnover indices]. Vestnik Belgorodskogo universiteta kooperatsii, ekonomiki i prava = Herald of Belgorod University of Cooperation, Economics and Law, 2013, no. 4, pp. 205–215. (In Russ.)
  5. Van Horne J.C., Wachowich J.M. Jr. Osnovy finansovogo menedzhmenta [Fundamentals of Financial Management]. Moscow, Vil'yams Publ., 2008, 1232 p.
  6. Karaeva F.E. [Assessing the business activity of the enterprise on the basis of indicators of asset turnover]. Nauchnye izvestiya, 2017, no. 7, pp. 22–26. (In Russ.)
  7. Il'in S.Yu., Kochetkova I.A. [Analyzing the business activity and operating profitability of the enterprise]. Часопіс еконамічних реформ, 2014, no. 4, pp. 49–55. (In Russ.)
  8. Bernstein L.A. Analiz finansovoi otchetnosti: teoriya, praktika i interpretatsiya [Financial Statement Analysis: Theory, Application and Interpretation]. Moscow, Finansy i Statistika Publ., 1996, 624 p.
  9. Kovalev V.V. Vvedenie v finansovyi menedzhment [Introduction to financial management]. Moscow, Finansy i Statistika Publ., 2006, 768 p.
  10. Morozova S.N. [Analysis of business activity of the organization]. Vestnik Mezhdunarodnogo Instituta upravleniya = Herald of International Institute of Management, 2015, no. 5-6, pp. 80–84. (In Russ.)
  11. Busygin D.Yu., Busygin Yu.N. [On the harmony of operating cycle segments]. Bukhgalterskii uchet i analiz = Accounting and Analysis, 2017, no. 12, pp. 41–49. (In Russ.)
  12. Efimova O.V. Finansovyi analiz [Financial analysis]. Moscow, Bukhgalterskii uchet Publ., 2002, 528 p.
  13. Kogdenko V.G. Metodologiya i metodika ekonomicheskogo analiza [Methodology and methods of economic analysis]. Moscow, YUNITI Publ., 2013, 543 p.
  14. Gudkova E.A., Gudkov S.V. Sovershenstvovanie uchetno-analiticheskogo instrumentariya v sisteme upravleniya oborotnymi aktivami sel'skokhozyaistvennykh organizatsii [Perfecting the accounting and analytical tools in the system of current asset management of agricultural organizations]. Minsk, Institute of System Research in Agroindustrial Complex of NAS of Belarus Publ., 2009, 164 p.
  15. Purlik V.M. [Operating and financial cycle as drivers of operational business efficiency]. RISK: Resursy, Informatsiya, Snabzhenie, Konkurentsiya = RISK: Resources, Information, Supply, Competition, 2017, no. 1, pp. 243–245. (In Russ.)
  16. Kozlova N.O., Markeeva T.P. [Study of the effect of the duration of the operating and financial cycles the financial stability of the enterprises of the Tula region]. Izvestiya Tul'skogo gosudarstvennogo universiteta. Ekonomicheskie i yuridicheskie nauki = Izvestiya TulGU. Economic and Legal Sciences, 2016, no. 1, pp. 91–98. (In Russ.)
  17. Dokuchaeva M.N. [Assessment of assets and capital turnover]. Sistemnoe upravlenie, 2013, no. 3, pp. 1–8. (In Russ.) URL: Link
  18. Barngol'ts S.B., Sukharev A.M. Oborotnye sredstva promyshlennykh predpriyatii (obrabatyvayushchei promyshlennosti) [Current assets of industrial enterprises (manufacturing industry)]. Moscow, Gospolitizdat Publ., 1957, 392 p.
  19. Richard J. Audit i analiz khozyaistvennoi deyatel'nosti predpriyatiya [Analyse financière et audit des performances]. Moscow, Audit, YUNITI Publ., 1997, 375 p.
  20. Rusak N.A., Rusak V.A. Finansovyi analiz sub"ekta khozyaistvovaniya [Financial analysis of a business entity]. Minsk, Vysheishaya shkola Publ., 1997, 309 p.
  21. Liker J.R. Dao Toyota: 14 printsipov menedzhmenta vedushchei kompanii mira [The Toyota Way: 14 Management Principles from the World's Greatest Manufacturer]. Moscow, Al'pina Biznes Buks Publ., 2006, 400 p.
  22. Savitskaya G.V. [Problematic Aspects of Calculating the Capital Turnover Indicators]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2018, vol. 17, iss. 5, pp. 981–996. (In Russ.) URL: Link
  23. Efimova O.V. [Analysis of current assets of the organization]. Bukhgalterskii uchet = Accounting, 2000, no. 10, pp. 47–53. (In Russ.)

Посмотреть другие статьи номера »

 

ISSN 2311-9438 (Online)
ISSN 2073-8005 (Print)

Свежий номер журнала

т. 29, вып. 1, март 2024

Другие номера журнала