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] Boundless.com/finance?campaign_content=book_192_ch apter_17&campaign_term=Finance&utm_campaign=powe rpoint&utm_medium=direct&utm_source=boundless Introduction to Working Capital Working Capital Approaches to Working Capital Financing Overview of the Working Capital Financing Decision Free to share, print, make copies and changes. Get yours at

Calculating Working Capital Controlling the Components of Working Capital Importance of Working Capital Working Capital Introduction to Working Capital > Working Capital Free to share, print, make copies and changes. Get yours at ect&utm_source=boundless

WC is current assets minus current liabilities. Companies want positive WC. WC is an signal of whether or not the company has enough assets to turn into cash to pay upcoming expenses or debts. WC is a measurement of liquidity and is not a guarantee that a company can pay for its liabilities. Calculating Working Capital Free to share, print, make copies and changes. Get yours at capital ?campaign_content=book_192_chapter_17&campaign_term=Finance&utm_campaign=powerpoint&utm_medium=direct&utm_source=bound less Buying Food View on Boundless.com Introduction to Working Capital > Working Capital

Increasing current assets or decreasing current liabilities increases WC, and vice versa. Four common mechanisms for controlling WC are cash management, inventory management, debtors management, and financing management. Having too little WC impairs a company's ability to meet it's financial obligations, while having too much WC can also be bad because it means that there are assets that are not being invested in the long-term. Controlling the Components of Working Capital Free to share, print, make copies and changes. Get yours at components-of-working-capital ?campaign_content=book_192_chapter_17&campaign_term=Finance&utm_campaign=powerpoint&utm_medium=direct&utm_source=bound less Walmart CFO View on Boundless.com Introduction to Working Capital > Working Capital

WC is important for large companies' ability to borrow, increase their share price, pay expenses and short-term debts. WC is important for small companies that cannot access financial markets to borrow, and for start-ups that need to survive until they break even. WC cannot guarantee whether a company is financially sound, but it gives some insight. Importance of Working Capital Free to share, print, make copies and changes. Get yours at capital ?campaign_content=book_192_chapter_17&campaign_term=Finance&utm_campaign=powerpoint&utm_medium=direct&utm_source=bound less Cash View on Boundless.com Introduction to Working Capital > Working Capital

Understanding the Needs of the Business Long-Term Approach Short-Term Approach Choosing a Policy Approaches to Working Capital Financing Introduction to Working Capital > Approaches to Working Capital Financing Free to share, print, make copies and changes. Get yours at ect&utm_source=boundless

Sufficient working capital is required to ensure that a firm is able to continue its operations and that it has sufficient funds to satisfy both maturing short-term and long-term debt and upcoming operational expenses. The management of working capital involves managing inventories, accounts receivable and payable, and cash. When calculating working capital we think in terms of net working capital, which is calculated as current assets minus current liabilities. In any company, large or small, there is an inherent tradeoff between liquidity and profitability. Understanding the Needs of the Business Free to share, print, make copies and changes. Get yours at /understanding-the-needs-of-the-business ?campaign_content=book_192_chapter_17&campaign_term=Finance&utm_campaign=powerpoint&utm_medium=direct&utm_source=bound less Inventory Software View on Boundless.com Introduction to Working Capital > Approaches to Working Capital Financing

The classification of assets as 'current' or 'non-current' may not be appropriate for describing the operations of a firm because different operations are classified together. Difficulties in working capital management can arise from the complexity of many business enterprises and the resultant inability to determine the length of the operating cycle. Working capital is a static concept, and debt-paying ability is dynamic. Therefore, working capital is not necessarily a good indication of the ability of the firm to pay current liabilities. Long-Term Approach Free to share, print, make copies and changes. Get yours at /long-term-approach ?campaign_content=book_192_chapter_17&campaign_term=Finance&utm_campaign=powerpoint&utm_medium=direct&utm_source=bound less The Operating Cycle View on Boundless.com Introduction to Working Capital > Approaches to Working Capital Financing

The main considerations for working capital are cash flow / liquidity and profitability / returns on capital. The most widely used measure of cash flow is the net operating cycle or cash conversion cycle. The cash conversion cycle measures how long a firm will be deprived of cash if it increases its investment in resources in order to expand customer sales. The aim of the study and calculation of the cash conversion cycle is to change the policies relating to credit purchase and credit sales. Short-Term Approach Free to share, print, make copies and changes. Get yours at /short-term-approach ?campaign_content=book_192_chapter_17&campaign_term=Finance&utm_campaign=powerpoint&utm_medium=direct&utm_source=bound less Cash Conversion Cycle View on Boundless.com Introduction to Working Capital > Approaches to Working Capital Financing

Working capital policies aim at managing current assets - generally, cash and cash equivalents, inventories, and debtors - and short term financing, such that cash flows and returns are acceptable. One of the objectives within working capital management and general financing decisions is to match the maturity of liabilities with the life expectancy of assets. If the maturity of liabilities is less than the life expectancy of assets, a firm faces refinancing risk since it will have to raise new capital to pay off liabilities. Choosing a Policy Free to share, print, make copies and changes. Get yours at /choosing-a-policy ?campaign_content=book_192_chapter_17&campaign_term=Finance&utm_campaign=powerpoint&utm_medium=direct&utm_source=bound less Policies Regarding Liquidity View on Boundless.com Introduction to Working Capital > Approaches to Working Capital Financing

Evaluating Interest Rates Decision Criteria Identifying Varying Conditions Calculating Expected Value Overview of the Working Capital Financing Decision Introduction to Working Capital > Overview of the Working Capital Financing Decision Free to share, print, make copies and changes. Get yours at ect&utm_source=boundless

The interest rate most commonly used in working capital management is the cost of capital. Firm value is enhanced when, and if, the return on capital, which results from working-capital management, exceeds the cost of capital, which results from capital investment decisions. Working capital decision criteria that focus on interest rates include debtors management and short-term financing. The discount rates typically applied to different types of companies show significant differences. Evaluating Interest Rates Free to share, print, make copies and changes. Get yours at decision-124/evaluating-interest-rates ?campaign_content=book_192_chapter_17&campaign_term=Finance&utm_campaign=powerpoint&utm_medium=direct&utm_source=bound less Interest View on Boundless.com Introduction to Working Capital > Overview of the Working Capital Financing Decision

The decisions relating to working capital are always current (i.e., short-term decisions. The most useful measure of profitability is return on capital (ROC). One measure of cash flow is provided by the cash conversion cycle (CCC)–the net number of days from the outlay of cash for raw material to receiving payment from the customer. The most useful measure of profitability is return on capital (ROC). Decision Criteria Free to share, print, make copies and changes. Get yours at decision-124/decision-criteria ?campaign_content=book_192_chapter_17&campaign_term=Finance&utm_campaign=powerpoint&utm_medium=direct&utm_source=bound less Cash cycle View on Boundless.com Introduction to Working Capital > Overview of the Working Capital Financing Decision

The goal of working capital management is to ensure that the firm is able to continue its operations and that it has sufficient cash flow to satisfy both maturing short-term debt and upcoming operational expenses. Identify the cash balance which allows for the business to meet day to day expenses, but reduces cash holding costs. Identify the level of inventory which allows for uninterrupted production but reduces the investment in raw materials - and minimizes reordering costs - and hence increases cash flow. Identify the appropriate credit policy and the appropriate source of financing, given the cash conversion cycle. Identifying Varying Conditions Free to share, print, make copies and changes. Get yours at decision-124/identifying-varying-conditions ?campaign_content=book_192_chapter_17&campaign_term=Finance&utm_campaign=powerpoint&utm_medium=direct&utm_source=bound less Inventory View on Boundless.com Introduction to Working Capital > Overview of the Working Capital Financing Decision

Positive working capital is required to ensure that a firm is able to continue its operations and that it has sufficient funds to satisfy both maturing short-term debt and upcoming operational expenses. The management of working capital involves managing inventories, accounts receivable and payable, and cash. Current assets and current liabilities include three accounts which are of special importance: accounts receivable, inventory, and accounts payable. Working capital is equal to accounts receivable plus the value of inventory, minus accounts payable. Calculating Expected Value Free to share, print, make copies and changes. Get yours at decision-124/calculating-expected-value ?campaign_content=book_192_chapter_17&campaign_term=Finance&utm_campaign=powerpoint&utm_medium=direct&utm_source=bound less Working Capital Equation View on Boundless.com Introduction to Working Capital > Overview of the Working Capital Financing Decision

Free to share, print, make copies and changes. Get yours at Appendix

Key terms balance sheet A summary of a person's or organization's assets, liabilities and equity as of a specific date. cash conversion cycle how long a firm will be deprived of cash if it increases its investment in resources in order to expand customer sales. cost of capital The rate of return that capital could be expected to earn in an alternative investment of equivalent risk. credit policy Credit terms given to customers that affect sales and collection practices. credit rating An estimate, based on a company or person's history of borrowing and repayment and/or available financial resources, that is used by creditors to determine the maximum amount of credit it can extend to a without undue risk. Current Asset An asset on the balance sheet, such as cash, accounts receivable, and inventory that is expected to be sold or otherwise used up in the near future, usually within one year or one business cycle, whichever is longer. current liabilities All liabilities of the business that are to be settled in cash within the fiscal year or the operating cycle of a given firm, whichever period is longer. discounting The process of finding the present value using the discount rate. Finished good Finished goods are goods that have completed the manufacturing process but have not yet been sold or distributed to the end user. inventory The stock of an item on hand at a particular location or business Free to share, print, make copies and changes. Get yours at Introduction to Working Capital

liquidity Availability of cash over short term: ability to service short-term debt. M&A Mergers and acquisitions (M&A) are aspects of corporate strategy, corporate finance, and management dealing with the buying, selling, dividing, and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or new location, without creating a subsidiary, other child entity or using a joint venture. operating liquidity The ability of a company or individual to quickly convert assets to cash for the purpose of paying operating expenses. service industry An industry that does not produce any goods, but only provides a service such as a bank or insurance company. static Fixed in place. Work in process Work in process (WIP) or in-process inventory includes the set at large of unfinished items for products in a production process. These items are not yet completed but either just being fabricated or waiting in a queue for further processing or in a buffer storage. working capital A financial metric that is a measure of current assets of a business that exceeds its liabilities and can be applied to its operation. Free to share, print, make copies and changes. Get yours at Introduction to Working Capital

Interest Interest rates of working capital financing can be largely affected by discount rate, WACC and cost of capital. Free to share, print, make copies and changes. Get yours at Flickr. "All sizes | Interest Rates | Flickr - Photo Sharing!." CC BY View on Boundless.comCC on Boundless.com Introduction to Working Capital

Inventory Identify the level of inventory which allows for uninterrupted production but reduces the investment in raw materials and minimizes reordering costs and, hence, increases cash flow. Free to share, print, make copies and changes. Get yours at Flickr. "All sizes | Inventory | Flickr - Photo Sharing!." CC BY View on Boundless.comCC on Boundless.com Introduction to Working Capital

Policies Regarding Liquidity This chart lays out sample working capital issues and some possible solutions. Free to share, print, make copies and changes. Get yours at Wikispaces. "IB2-Business-p Working Capital." CC BY-SA View on Boundless.comCC BY-SAhttp://ib2-business-p4.wikispaces.com/3.3+Working+CapitalView on Boundless.com Introduction to Working Capital

Buying Food Most purchases, including food, must be made with a specific asset–cash. Not all current assets can be used to pay off expenses of debts. Free to share, print, make copies and changes. Get yours at Flickr. "All sizes | buying vegetables | Flickr - Photo Sharing!." CC BY View on Boundless.comCC BYhttp:// on Boundless.com Introduction to Working Capital

Cash Conversion Cycle Above is a chart showing a sample cash conversion cycle. Free to share, print, make copies and changes. Get yours at University of Texas. "Working Capital Management: A Must for Any Startup | Texas Enterprise." CC BY-SA capital-management-must-any-startup View on Boundless.comCC BY-SAhttp:// capital-management-must-any-startupView on Boundless.com Introduction to Working Capital

Walmart CFO Charles Holley, the Chief Financial Officer (CFO) of Wal-Mart, is in charge of making sure all of Wal-Mart's assets are allocated as optimally as possible. Free to share, print, make copies and changes. Get yours at Flickr. "Walmart's EVP and CFO Charles Holley Discusses Finance | Flickr - Photo Sharing!." CC BY View on Boundless.comCC BYhttp:// View on Boundless.com Introduction to Working Capital

Working Capital Equation Working capital is equal to accounts receivable, plus current inventory, minus accounts payable. Free to share, print, make copies and changes. Get yours at Amazon Web Services. "Boundless." CC BY-SA View on Boundless.comCC BY-SAhttp://s3.amazonaws.com/figures.boundless.com/50c0ba71e4b0fc1982dc4741/CodeCogsEqn.gifView on Boundless.com Introduction to Working Capital

Inventory Software This is an example of modern inventory software that enables managers to precisely track orders and inventory levels. Free to share, print, make copies and changes. Get yours at Flickr. "All sizes | JDE.Workbench Search | Flickr - Photo Sharing!." CC BY View on Boundless.comCC BYhttp:// on Boundless.com Introduction to Working Capital

Cash cycle Cash conversion cycle is a main criteria for working capital management. Free to share, print, make copies and changes. Get yours at Flickr. "All sizes | cash-cycle | Flickr - Photo Sharing!." CC BY View on Boundless.comCC on Boundless.com Introduction to Working Capital

The Operating Cycle Above is a flow chart for a sample operating cycle for a firm. Free to share, print, make copies and changes. Get yours at Flickr. "y2cary3n6mng-u6yp2j-the-operating-cycle | Flickr - Photo Sharing!." CC BY-SA View on Boundless.comCC BY-SAhttp:// on Boundless.com Introduction to Working Capital

Cash Liquidity is a measurement of a company's ability to quickly turn assets into cash. Free to share, print, make copies and changes. Get yours at Flickr. "All sizes | Cash | Flickr - Photo Sharing!." CC BY View on Boundless.comCC BYhttp:// on Boundless.com Introduction to Working Capital

Free to share, print, make copies and changes. Get yours at Introduction to Working Capital A company has $20,000 in cash, $10,000 in accounts receivable and $45,000 in fixed assets. It has $12,5000 in accounts payable. It owes $50,000 in two years on a note that has an annual interest payment of $5,000. What is its working capital? A) $7,500 B) $12,500 C) $17,500 D) $57,500

Free to share, print, make copies and changes. Get yours at Boundless - LO. "Boundless." CC BY-SA BY-SA 3.0http:// Introduction to Working Capital A company has $20,000 in cash, $10,000 in accounts receivable and $45,000 in fixed assets. It has $12,5000 in accounts payable. It owes $50,000 in two years on a note that has an annual interest payment of $5,000. What is its working capital? A) $7,500 B) $12,500 C) $17,500 D) $57,500

Free to share, print, make copies and changes. Get yours at Introduction to Working Capital A company wants to adjust its working capital by adjusting its current liabilities. Therefore the company should focus on its ____. A) Financing management. B) Debtors management. C) Inventory management. D) Cash management.

Free to share, print, make copies and changes. Get yours at Boundless - LO. "Boundless." CC BY-SA BY-SA 3.0http:// Introduction to Working Capital A company wants to adjust its working capital by adjusting its current liabilities. Therefore the company should focus on its ____. A) Financing management. B) Debtors management. C) Inventory management. D) Cash management.

Free to share, print, make copies and changes. Get yours at Introduction to Working Capital Complete the following statement so that it is always true: If a company has significant working capital, _____. A) it is guaranteed to have enough cash to pay all of its expenses. B) the company is growing at the highest rate possible. C) All of these answers. D) it will probably be able to obtain credit at a lower interest rate.

Free to share, print, make copies and changes. Get yours at Boundless - LO. "Boundless." CC BY-SA BY-SA 3.0http:// Introduction to Working Capital Complete the following statement so that it is always true: If a company has significant working capital, _____. A) it is guaranteed to have enough cash to pay all of its expenses. B) the company is growing at the highest rate possible. C) All of these answers. D) it will probably be able to obtain credit at a lower interest rate.

Free to share, print, make copies and changes. Get yours at Introduction to Working Capital Which of the following factors need to be considered evaluating a company's working capital strategy? A) All of these answers. B) The level of inventory necessary to ensure that a company can meet its customers demands. C) The number of days it takes a business to obtain payment from its customers for its completed sales. D) The number of days the company can wait before it must pay its debts.

Free to share, print, make copies and changes. Get yours at Boundless - LO. "Boundless." CC BY-SA BY-SA 3.0http:// Introduction to Working Capital Which of the following factors need to be considered evaluating a company's working capital strategy? A) All of these answers. B) The level of inventory necessary to ensure that a company can meet its customers demands. C) The number of days it takes a business to obtain payment from its customers for its completed sales. D) The number of days the company can wait before it must pay its debts.

Free to share, print, make copies and changes. Get yours at Introduction to Working Capital Which of the following explains why working capital may not be a pure measure of short-term assets and liabilities? A) The distinction between "current" and "non-current" is arbitrary. B) Many businesses are complex, making it difficult to determine the length of the operating cycle. C) Cash flows available for paying current liabilities may be closely related to long-term assets. D) All of these answers.

Free to share, print, make copies and changes. Get yours at Boundless - LO. "Boundless." CC BY-SA BY-SA 3.0http:// Introduction to Working Capital Which of the following explains why working capital may not be a pure measure of short-term assets and liabilities? A) The distinction between "current" and "non-current" is arbitrary. B) Many businesses are complex, making it difficult to determine the length of the operating cycle. C) Cash flows available for paying current liabilities may be closely related to long-term assets. D) All of these answers.

Free to share, print, make copies and changes. Get yours at Introduction to Working Capital Which of the following statements regarding the cash conversion cycle is correct? A) The cash conversion cycle can be shortened by delaying payments to suppliers. B) A firm can achieve and sustain a negative cash conversion cycle. C) The cash conversion cycle measures a company's credit risk associated with growth. D) All of these answers.

Free to share, print, make copies and changes. Get yours at Boundless - LO. "Boundless." CC BY-SA BY-SA 3.0http:// Introduction to Working Capital Which of the following statements regarding the cash conversion cycle is correct? A) The cash conversion cycle can be shortened by delaying payments to suppliers. B) A firm can achieve and sustain a negative cash conversion cycle. C) The cash conversion cycle measures a company's credit risk associated with growth. D) All of these answers.

Free to share, print, make copies and changes. Get yours at Introduction to Working Capital Which of the following statements regarding refinancing risk is correct? A) If liabilities mature after the life of the assets, there won't be sufficient working capital. B) A company should always closely match its liabilities to its assets. C) Generally, liabilities should be self-liquidating. D) All of these answers.

Free to share, print, make copies and changes. Get yours at Boundless - LO. "Boundless." CC BY-SA BY-SA 3.0http:// Introduction to Working Capital Which of the following statements regarding refinancing risk is correct? A) If liabilities mature after the life of the assets, there won't be sufficient working capital. B) A company should always closely match its liabilities to its assets. C) Generally, liabilities should be self-liquidating. D) All of these answers.

Free to share, print, make copies and changes. Get yours at Introduction to Working Capital A company is a late stage startup. What should be its target rate of return for its equity? A) 50%-100% B) 30%-50% C) 40%-60% D) 10%-25%

Free to share, print, make copies and changes. Get yours at Boundless - LO. "Boundless." CC BY-SA BY-SA 3.0http:// Introduction to Working Capital A company is a late stage startup. What should be its target rate of return for its equity? A) 50%-100% B) 30%-50% C) 40%-60% D) 10%-25%

Free to share, print, make copies and changes. Get yours at Introduction to Working Capital Which of the following correctly defines a factor that influences a company's working capital financing decisions? A) A CCC is the number of days from the purchase of materials until the customer pays for the product. B) A company's return on capital is income divided by the capital used to earn that revenue. C) All of these answers. D) Credit policy is how a company uses credit to make purchases and whether it allows sales on credit.

Free to share, print, make copies and changes. Get yours at Boundless - LO. "Boundless." CC BY-SA BY-SA 3.0http:// Introduction to Working Capital Which of the following correctly defines a factor that influences a company's working capital financing decisions? A) A CCC is the number of days from the purchase of materials until the customer pays for the product. B) A company's return on capital is income divided by the capital used to earn that revenue. C) All of these answers. D) Credit policy is how a company uses credit to make purchases and whether it allows sales on credit.

Free to share, print, make copies and changes. Get yours at Introduction to Working Capital Which of the following correctly defines one of the four main areas of variability that must be considered during working capital management? A) Cash management balances having enough cash for expenses while minimizing cash holding costs. B) Inventory management ensures uninterrupted production while minimizing investment in raw materials. C) Debtors management finds the appropriate credit policy. D) All of these answers.

Free to share, print, make copies and changes. Get yours at Boundless - LO. "Boundless." CC BY-SA BY-SA 3.0http:// Introduction to Working Capital Which of the following correctly defines one of the four main areas of variability that must be considered during working capital management? A) Cash management balances having enough cash for expenses while minimizing cash holding costs. B) Inventory management ensures uninterrupted production while minimizing investment in raw materials. C) Debtors management finds the appropriate credit policy. D) All of these answers.

Free to share, print, make copies and changes. Get yours at Introduction to Working Capital A company has $350,000 in accounts receivable, $100,000 in current inventory, and $125,000 in accounts payable. What is its working capital? A) $375,000 B) $225,000 C) $450,000 D) $325,000

Free to share, print, make copies and changes. Get yours at Boundless - LO. "Boundless." CC BY-SA BY-SA 3.0http:// Introduction to Working Capital A company has $350,000 in accounts receivable, $100,000 in current inventory, and $125,000 in accounts payable. What is its working capital? A) $375,000 B) $225,000 C) $450,000 D) $325,000

Attribution Wikipedia. "Working capital." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/Working_capital Wikipedia. "Current liabilities." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/Current_liabilities Wiktionary. "liquidity." CC BY-SA BY-SA 3.0http://en.wiktionary.org/wiki/liquidity Wikipedia. "Current Asset." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/Current%20Asset Wikipedia. "Working capital." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/Working_capital Wikibooks. "Sustainable Business/Can you afford to start up?." CC BY-SA BY-SA Wiktionary. "working capital." CC BY-SA BY-SA 3.0http://en.wiktionary.org/wiki/working+capital Boundless Learning. "Boundless." CC BY-SA BY-SA 3.0http:// Wikipedia. "Working capital." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/Working_capital Wikipedia. "Discounting." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/Discounting Wikipedia. "cash conversion cycle." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/cash%20conversion%20cycle Wikipedia. "cost of capital." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/cost%20of%20capital Wiktionary. "credit rating." CC BY-SA BY-SA 3.0http://en.wiktionary.org/wiki/credit+rating Wikipedia. "Corporate finance." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/Corporate_finance#Working_capital_management Boundless Learning. "Boundless." CC BY-SA BY-SA 3.0http:// Wikipedia. "Cash conversion cycle." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/Cash_conversion_cycle Wikispaces. "SU3FINANCE - Chapter 19 - Short-Term Financial Planning." CC BY-SA BY-SA Free to share, print, make copies and changes. Get yours at Introduction to Working Capital

Vanbreda. "thry13:classification [michael]." Public domain domainhttp://michael.vanbreda.org/doku.php?id=thry13:classification Wiktionary. "static." CC BY-SA BY-SA 3.0http://en.wiktionary.org/wiki/static Wiktionary. "service industry." CC BY-SA BY-SA 3.0http://en.wiktionary.org/wiki/service+industry Wikipedia. "M&A." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/M&A Wikipedia. "Working capital." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/Working_capital Wiktionary. "balance sheet." CC BY-SA BY-SA 3.0http://en.wiktionary.org/wiki/balance+sheet Wikipedia. "Corporate finance." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/Corporate_finance Boundless Learning. "Boundless." CC BY-SA BY-SA 3.0http:// OER Commons. CC BY BYhttp:// Wikipedia. "Working capital." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/Working_capital Wikipedia. "Working capital." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/Working_capital Boundless Learning. "Boundless." CC BY-SA BY-SA 3.0http:// Wikipedia. "Finished good." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/Finished%20good Wikipedia. "Corporate finance." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/Corporate_finance#Working_capital_management Wikipedia. "Working capital." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/Working_capital Wiktionary. "liquidity." CC BY-SA BY-SA 3.0http://en.wiktionary.org/wiki/liquidity Wiktionary. "working capital." CC BY-SA BY-SA 3.0http://en.wiktionary.org/wiki/working+capital University of Texas. "Working Capital Management: A Must for Any Startup | Texas Enterprise." CC BY-SA BY-SA Wikipedia. "Working capital." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/Working_capital Free to share, print, make copies and changes. Get yours at Introduction to Working Capital

Wiktionary. "inventory." CC BY-SA BY-SA 3.0http://en.wiktionary.org/wiki/inventory Wikipedia. "Working capital." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/Working_capital Wikipedia. "Current Asset." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/Current%20Asset Wikipedia. "Current liabilities." CC BY-SA BY-SA 3.0http://en.wikipedia.org/wiki/Current_liabilities Free to share, print, make copies and changes. Get yours at Introduction to Working Capital