Working Capital Management is a comprehensive primer on keeping your business financially competitive in the face of limited access to short-term funds. With detailed insight applicable to each phase in the business cycle, this authoritative guide helps managers revamp current practices for more efficient use of assets and liabilities, including more stringent monitoring and planning of collections, disbursements, and balances. You'll learn how to minimize investments in idle resources and how to maximize the use of forecast data to better identify risk and the optimal use of available funds. Case studies illustrate the practical applications of the ideas presented, with particular attention given to cash budgeting, forecasting, banking relationships, and other common scenarios with specific requirements.
Managing a company's short-term resources is both an art and a science. Effectively maintaining funds for ongoing activities - and keeping those funds liquid, mobile, and available - is a masterful skillset lacking in business. Working Capital Management offers practical advice for managers in this challenging position, providing guidance that helps them:
- Learn the specific metrics at work in capital management and the problems that they can cause
- Improve cash management with robust fraud protection and better use of short-term instruments
- Manage the issues that arise from accounts receivable, inventory, payables, information management, and international sources
- Develop an effective management system for key points in the working capital cycle
Upon successful completion of this course, participants will be able to:
- Define the basic concepts of working capital and cite problems in assigning management responsibility for working capital.
- Define the traditional and modern views of cost in working capital management.
- Specify how liquidity ratios, activity ratios, profitability ratios, benchmarking, and other key metrics are calculated and used in working capital.
- Identify problems in the use of ratios and metrics.
- Cite the significant components of cash and how lockboxing can improve cash management.
- Identify pros and cons in the management of paper transactions, including depository accounts and controlled disbursements.
- Compare products used to process electronic business-to-business transactions and how they help combat fraud.
- Cite techniques that can be utilized when developing a short-term forecast and preparing cash budgets.
- Identify how various credit arrangements provided by lenders and short-term investments can be used in the cash budgeting process.
- Identify current trends in banking relationship management, including the mobilization of cash in a multibank network.
- Name the general terms of credit arrangements, the important issues in arrangements for credit, and ongoing bank relationship concerns.
- Cite appropriate policies for receivables management, including the impact of float on receivables.
- Cite the use of ratios and aging schedules in managing receivables.
- Cite receivables issues, including sales financing and credit reporting, and evaluate the terms of the sale.
- Identify the appropriate policies for inventory management and how ratios and other metrics assist in inventory management.
- Identify problems involved with purchasing and work-in-process inventory.
- Cite how ratios and other metrics assist in payables management.
- Differentiate between active and passive management of payables.
- Name internal processes and outsourcing alternatives in managing payables.
- Cite working capital opportunities in international business.
- Identify issues in international working capital, including global corporate behavior and cultural differences.
- Identify how information technology fits into the development of a rational business perspective and how working capital information products are used for communication.
- Identify aspects of enterprise resource planning (ERP) as an approach to developing working capital formation.
- Identify risk management issues in working capital.
- Identify how attitudes have changed the management of working capital, working capital ideas, and implementation procedures.
- Cite cases to gain further insight into a company and determine ways to improve the financial efficiency and managerial insight.
Choose Your Preferred Format
Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.
Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.
Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.
Back to top