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Working Capital and Strategic Debtor Management

An Overview Introduction Objectives of the Text Outline of the Text Summary and Conclusions Selected References Working Capital Management The Objectives and Structure of Working Capital Management Introduction The Objectives of Working Capital Management The Structure of Working Capital Summary and Conclusions Selected References The Accounting Concept of Working Capital: A Critique Introduction The Accounting Notion of Solvency Liquidity and Accounting Profitability Financial Interpretation: An Overview Liquidity and Turnover Summary and Conclusions The Working Capital Cycle and Operating Efficiency Introduction The Working Capital Cycle Operating Efficiency Summary and Conclusions Real World Considerations and the Credit Related Funds System Introduction Real World Considerations The Credit Related Funds System Summary and Conclusions Strategic Debtor Investment The Effective Credit Price and Decision to Discount Introduction The Effective Credit Price The Effective Discount Price The Decision to Discount Summary and Conclusions The Opportunity Cost of Capital and Credit Related Funds System Introduction The Opportunity Cost of Capital Rate The Credit Related Fund System The Development of Theory Summary and Conclusions Selected References The Strategic Impact of Alternative Credit Policies on Working Capital and Company Profitability Introduction Effective Prices and the Creditor Firm Alternative Credit Policies, Working Capital Investment and Corporate Profitability Summary and Conclusions Empirical Evidence and Theoretical Review Introduction The Theory The Empirical Evidence The Countervailing Power of Firm's Size Late Payment and the Case for Legislation Initial points to note Summary and Conclusions Selected References

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