Study On Pledge Financing Of Accounts Receivable Of Accounpany D

Small and medium-sized enterprises have always been an important force in the development of China’s national economy.In the process of ensuring the steady growth of China’s national economy,small and medium-sized enterprises have already become an important engine during our economic development.However,due to the influence of China’s macro-environment,medium-sized enterprises cash flow is fragile,own credit ability is weak,anti-risk ability is poor,and the direct financing cost is too high,also it causes them to fall into a financing trouble.It is important to obtain sufficient funds and guarantee the sustainable development of enterprises.Accounts receivable is the most important assets of small and medium-sized enterprises.Based the development of our society,the Property Law defines the pledge of accounts receivable and the pledge registration of accounts receivable,which prefer to solve the financing difficulties from small and medium-sized enterprises.This thesis takes D Company as the representative of small and medium-sized enterprises,financing model and the effect of accounts receivable pledge as the case analysis object.Based on the related theories of accounts receivable pledge financing model from domestic and abroad,this thesis combine the financing model and actual situation of accounts receivable pledge of D Company,and then digs out the characteristics of its financing model and its financial and non-financial effects after financing implementation.As we fully study the research results of domestic and foreign scholars on profit model,this thesis sums up the key contents,and then completed the basic research framework.This thesis uses five parts to study the effect of pledge financing of accounts receivable.The first part points out the background and significance of pledge financing of accounts receivable and the research results of domestic and foreign scholars on pledge financing of accounts receivable,and also introduces the research ideas,methods and basic framework of this thesis.Our existed achievements mainly focuses on the motivation and risk analysis of accounts receivable pledge financing,and there is little theoretical research on the effect of accounts receivable pledge financing model for small and medium-sized enterprises.In this thesis,we take the financing model and effect of accounts receivable pledge of Company D as an example,by referring lessons from previous empirical research and case,expounding the financing theory and characteristics of small and medium-sized enterprises to analyze the motivation and the effect of financing model of accounts receivable.The second part shows the classification,motivation and effect analysis of pledge financing of accounts receivable,and the third part analyze the specific scheme of pledge financing mode based company D.The fourth part mainly analyzes the effect of pledge financing of accounts receivable from financial and non-financial side.The fifth part summarized the previous content,and makes the conclusion and the thoughts of pledge financing model of accounts receivable.This article mainly uses not only literature analysis methods but also the case study method to carry the effect of Company D pledge financing of accounts receivable.We introduced the pledge financing mode of accounts receivable of small and medium-sized enterprises firstly,then,analyze the details of the implementation of Company D pledge financing mode of accounts receivable,and emphasized the effect after implementation.We can concluded that the pledge financing mode of accounts receivable improves the profitability of Company D,improves the financial structure,and at the same time alleviates the financing risks of Company D and broadens its financing channels and capabilities.Finally,it also analyzes the influence of the pledge financing effect of accounts receivable.Finally,it is concluded that the pledge financing can benefit to resolve financing trouble;also it can provide good performance from financial and non-financial side.At the same time,we should build an operating platform of accounts receivable to improve the pledge efficiency of accounts receivable,then,establish a formal enterprise financial management system is conducive to the development of pledge financing business,and it is necessary to pay attention to accounts receivable management for speeding up loan withdrawal to prevent financial risks.