Research On The Optimization Of Accounts Receivable Management In FJJ Company

With the development of China’s economy,technology and market,product technology is rapidly transferred among different enterprises,and the advantages of product uniqueness and quality are more and more difficult to maintain.At the same time,the price and sales means are gradually homogenized.It is becoming more and more infeasible for enterprises to obtain the competitive advantage of sales by means of product competitiveness and promotion.The fierce market competition pressure forces many enterprises to seek and adopt the way of credit sales to promote and expand sales performance and improve the market share of their own products and services.However,with the expansion of sales,the scale of accounts receivable of enterprises is also greatly increased,so enterprises need to bear greater business risks.Restricted by the competitive pressure of the external environment and the limitations of its own conditions,the management of accounts receivable of enterprises has not been given enough attention,resulting in the accumulation of accounts receivable problems,which has aggravated the financial difficulties of enterprises and even endangered their survival.Therefore,how to manage accounts receivable scientifically and reasonably is an important problem that enterprises should pay attention to at present.In recent years,the problem of arrears of accounts receivable of domestic small and medium-sized enterprises is more prominent,and the State Council has also attached great importance to it.In September 2019,the Ministry of industry and information technology issued the "management measures for timely payment of funds to small and medium-sized enterprises(Draft)",requiring state organs,institutions and large-scale enterprises to pay funds to small and medium-sized enterprises no more than 60 days,and overdue interest should be paid.In July 2020,the State Council officially issued the "Regulations on guaranteeing payment of funds for small and medium-sized enterprises",which will come into force on September 1,2020.From the safeguard regulations issued by the State Council,it can be seen that the long account period of accounts receivable,the difficulty in collecting funds and the difficulty in capital turnover are the common problems faced by domestic enterprises.Moreover,in recent years,the domestic and foreign economic environment is complex and changeable,and the economic downward pressure,because the domestic enterprises are facing more and more transaction risks and capital pressure.Therefore,how to strengthen the control of transaction risk and improve the management of accounts receivable is an urgent problem to be solved in the current stage of enterprise management.This paper takes FJJ company of Foxconn Group as the research object,using the related theory of accounts receivable management,using literature research method,comparative analysis method and on-the-spot visit method,through a comprehensive analysis and Research on the transformation strategy of Foxconn Group in recent years,its overall management mode of accounts receivable and the current accounts receivable management strategy of FJJ company,and points out that there are This paper analyzes the causes of the problems,puts forward the improvement suggestions and safeguard measures of the accounts receivable management of FJJ company,promotes the implementation of the optimization measures of the accounts receivable management,improves the management ability and efficiency,promotes the accounts receivable to be paid in full and on time,effectively controls the bad debt risk and default risk,and reduces the management cost and expense.