運(yùn)用方差分析監(jiān)管應(yīng)收賬款[外文翻譯]

1、1外文翻譯外文翻譯MonitingAccountsReceivableUsingVarianceAnalysisMaterialSource：FinancialManagementAuth：GegeW.GallingerA.JamesIfflerI.IntroductionInthepasttenyearsseveralarticleshaveappearedintheliteraturediscussingthemonitingofa

2、ccountsreceivable.Withfewexceptionshoweverthemonitingtechniquesproposedinthesearticleshavenotbeenincpatedintothestardtextbookdiscussions.Therefeitisnotsurprisingthatthetraditionaloftenmisleadingtechniquesofdayssalesoutst

3、ing(DSO)agingschedulesstillappeartobetheprimaryvehiclesusedbyanalyststoevaluateafirmsaccountsreceivablebalance.AsdiscussedbyStonemanyanalystsrecognizethatreceivablescanbeinfluencedbysaleseffectstheyattributethistoseasona

4、lcyclicalfacts.TheyattempttoeliminateatleastminimizetheseeffectsbycomparingcalculatedDSOratiosagingschedulesagainstthoseofhisticalperiodsthoseofcompetits.Howeverthisapproachmaynotbeverysatisfacty.Histyseldomrepeatsitself

5、exactlybecauseofchangesinthelevelofinterestratescustomermixmanyotherfactsthatmakeitdifficulttomakemeaningfulcomparisons.Inthecaseofcompetitsitisdifficulttomakecomparisonsbecauseofdifferencesinsizeproductmixgeographicloca

6、tionsofcompanies.OnewaytoovercometheseproblemsistoabonDSOmeasuresagingschedulesrelyonbalancefractionspaymentpatterns.Anotherapproachistouseanaccountingbaseddollarvarianceanalysismodelasdiscussedinthisarticle.Thevariancea

7、nalysismodelcomparesactualagainstbudgetedreceivableperfmance.Arealadvantageofusingabudgetisthatitcanovercomethemanyproblemsinherentinhisticaldata.Assumingthatmanagementhasconscientiouslycalculatedthebudgetamountsthencond

8、itionsexpectedtoexistduringthebudgetperiodareincpatedintotheaccountsreceivablebudget.Thisisobviouslybetterthancomparingactualperfmancetosomepriperiodthatmaynotberepresentativeofconditionsprevailingduringthebudgetperiod.A

9、dditionaladvantagesofavariancemethodologyareasfollows:Firsterrsinsalesprojectionscollectionsfecastsarereadilyevident.ThisprovidesmanagementA.CollectionExperienceVarianceThecollectionexperiencevarianceisolatestheefficienc

10、yofactualcollectionsrelativetorevised(i.e.flexible)budgetcollections.Theimptanceofthisrevisionisthattheflexiblebudgetaccountsfthefactthatsaleshavechangedfromiginalbudgetexpectations.Theflexiblebudgethoweverdoesnotchanget

11、hedayssalesoutstingmeasuresincebudgetassumptionsaboutcredittermscreditstardsarestillassumedtobevalid.B.SalesEffectVarianceByrestatingthestaticbudgettoaflexiblebudgetindertoeliminatetheinfluenceofchangingsalesthecollectio

12、nexperiencevariancewasisolated.Thisflexiblebudgetisnowusedtoeliminatetheinfluenceofcollectionexperienceontotalvariancessothattheeffectofsalesonaccountsreceivablebalancescanbemeasured.Onemightarguethatcreditmanagerscannot

13、beheldaccountablefthesaleseffectvariance.Althoughthisisgenerallytruecircumstancesexistthatcannegatethisclaim.Fexampleoneofthecreditmanagerstasksistodetermineifcreditshouldbeextendedtocustomers.Anoverlylenientcreditgranti

14、ngpolicyresultingfrominadequateanalysisofcreditapplicantsleadstohighersalesbutalsotohigherreceivablebalancesthatareoutstinglonger.Ifthisisthecasethecreditmanagerisresponsiblefatleastaptionofthesaleseffectvariance.Regardl

15、essofwhoisheldresponsiblefthesaleseffectvarianceanunderstingofthisvarianceisimptantinanalyzingresourceallocation.Howeverthesaleseffectvariancecanbedifficulttointerpret.C.SalesPatternVarianceAsalespatternvarianceisknownto

16、bepresentsincedifferencesexistbetweenactualbudgetedmonthlysalesproptions.Thecalculationofthepatternvarianceisnotasstraightfwardaseitherthecollectionexperiencevariancethesaleseffectvariance.Whereasthesevariancescanbecalcu

17、latedfeachmonthindependentofallothermonthsthepatternvariancemustuseallmonthstodatethathavereceivablebalancesoutsting(eitheractualbudgetboth).D.SalesQuantityVarianceTheremainingcomponentofthesaleseffectvarianceisthesalesq