Research On Accounts Receivable And Its Related Problem Of Listed Company In Our Country

With the increasing maturity of China's capital market and standardization of securities market, It has become a focus for a corporate to finance that the listed company strive to manage accounts receivable effectively, collect sales revenues and timely convert to cash.In this paper the overall theory description of accounts receivable is introduced. The contents and causes of accounts receivable are summarized. The necessities of accounts receivable management and influences to corporate are related. The way to manage accounts receivable, credit standard, credit condition, collecting accounts policy and daily management of accounts receivable are confirmed. The characteristic of accounts receivable in listed company is analyzed. Through the descriptive statistical analysis calculation of account receivable in listed company, we know about many problems. Such as, the amount of accounts receivable in listed company has increased greatly. The increase speed of accounts receivable is higher than that of main business. The proportion of accounts receivable occupying total assets is much higher. The aging grows older and the drawing proportion of allowance for uncollected accounts is much bigger. The amount of traction in relation to accounts receivable is much higher. The information exposure is not regulated. After the analysis of related factors that affected accounts receivable in listed company, some constructive suggestions that help norm securities market in our country are provided. The increasingly growth of listed company's accounts receivable has accelerated the deterioration of assets quality and has affected the company's reproductive capability. Accounts receivable is one of the main factors that affected the company's financial position. It has great influence to the regular operation. Strengthening the management of accounts receivable is to ensure the regular production operation and lower the financial risks. This article will deeply study the problem of accounts receivable using the means of combination of line analysis and model practical research and also offer some results and constructive suggestions which will benefit the development of stock market in our country to the managers in capital market and investors and securities supervisors as a reference.This paper mainly studies the characteristics of accounts receivable in listed company and relationship among accounts receivable turnover, rate of return on net assets, total assets turnover, increase rate of main business and rate of assets and liabilities.Through the descriptive statistic analysis and calculation of accounts receivable in our country in 2001,we think the average increase rate of accounts receivable is higher than that of main business revenues. The average increase extent of accounts receivable is 246.63%, while that of main business revenues is only 36.04%. From the line, accounts receivable in the wholesale and retail trade increase the most, average increase is 2059.57%. The proportion of accounts receivable in listed company in our country accounting for the main business revenue is higher, the average is 38.21%, That is, there will be forty yuan worth of product is to be through sales on credit every one hundred yuan worth of product in listed company. The weight of accounts receivable in listed company in our country accounting for total assets is bigger. the average is 11.07%. Half of the total assets in most companies are accounts receivable and other accounts receivable. The high weights of accounts receivable bring great operation risks to the company. The aging of accounts receivable in listed company in our country is sever. According to the analysis and calculation to the sample in the Hu-Shen markets, the average accounts receivable aging within one year is 60.90%, while that of more than one year is 39.10%. According to international regulation, accounts receivable more than one year is regard as bad accounts. The drawing proportion of allowance for uncollected accounts has increased greatly.