Research On The Application Of Accounts Receivable Financing Mode In Construction Enterprises

As the pillar industry of China's economic development,competition of construction industry is constantly intensifying,and capital construction has become the main competitive way for construction enterprises to occupy the market.Under such a competitive environment,the number of accounts receivable in construction enterprises is increasing,leading to the increasingly difficult operation of enterprises,which has restricted the development of enterprises.The accounts receivable financing,as a new financing model,is to pledge or transfer the accounts receivable to obtain financing,which can effectively improve the financial situation of the enterprise and help the development of the enterprise.Based on the background of the construction industry,this paper takes the A construction enterprise as a case,and uses the case analysis method and the fuzzy comprehensive evaluation method to study the accounts receivable financing.First of all,based on domestic and foreign literature,the article studies and summarizes the research on accounts receivable financing by domestic and foreign scholars,and introduces the background of the research,the relevant theoretical knowledge of accounts receivable financing,and the operation mode of accounts receivable pledge,factoring and securitisation financing.Then according to the amount,quality,turnover rate of the accounts receivable of A construction enterprises and the current financing situation of the A construction enterprises,the feasibility of the account receivable financing for the A construction enterprises is discussed.According to the comprehensive evaluation method in fuzzy mathematics,the evaluation model of A construction enterprise is established,and the financing efficiency of the four accounts receivable financing mode is compared and judged from the six influencing factors,that is,financing cost,financing risk,financing time limit,fund position,degree of freedom of financing subject and the standard of financing mechanism.The analysis results show that non-recourse-factoring financing is the most suitable financing mode for A construction enterprises,which provides a basis for financing decisions of A construction enterprises.Finally,the paper puts forward suggestions for A construction enterprises to carry out accounts receivable financing,so as to ensure the smooth development of accounts receivable financing.For construction enterprises,accounts receivable financing not only can solve the problem of capital shortage,but also is a high efficient financing model,which can effectively reduce the cost of financing and reduce the risk of financing.At the same time,the accounts receivable financing can also reduce the management cost of the accounts receivable and improve the financial situation of the enterprise.Also,the accounts receivable financing is beneficial to the development and expansion of the enterprises,and have an important significance for the development of the construction enterprises.