Working capital policy（營運資本政策）是什么_2020年ACCA考試FM知識點
只要持續(xù)地努力，不懈地奮斗，就沒有征服不了的東西。今天東奧小編為大家準備了ACCA考試FM科目知識點，希望能夠幫助到大家。
【內(nèi)容導航】
Working capital policy 營運資本政策
【知識點】
Working capital policy 營運資本政策
Working capital policy 營運資本政策
A conservative approach（Policy A）
A conservative working capital investment policy aims to reduce the risk of system breakdown by holding high levels of working capital.
Customers are allowed generous payment terms to stimulate demand, finished goods inventories are high to ensure availability for customers, and raw materials and work in progress are high to minimise the risk of running out of inventory and consequent downtime in the manufacturing process.
However, the cumulative effect on these policies can be that the firm carries a high burden of unproductive assets, resulting in a financing cost that can destroy profitability. A period of rapid expansion may also cause severe cash flow problems, as working capital requirements outstrip available finance.
An aggressive approach（Policy C）
An aggressive working capital investment policy aims to reduce this financing cost and increase profitability by cutting inventories, speeding up collections from customers and delaying payments to suppliers.
Disadvantage is an increase in the chances of system breakdown through running out of inventory or loss of goodwill with customers and suppliers.
A moderate approach（Policy B, trade-off between risk and return）
A moderate working capital investment policy is a middle way between the aggressive and conservative approaches.
凡事預則立不預則廢，ACCA考試時間越來越近，趕快抓緊時間備考吧。最后，預祝到家順利通過ACCA考試。
注：以上內(nèi)容來自Echo老師基礎(chǔ)班第7講
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