Rzeczowe aktywa trwałe a cykl inkasa należności, obrotu zapasami i regulowania zobowiązań
Tangible fixed assets vs. receivables, turnoverand payables conversion cycles

Summary/Abstract: The paper presents determining elements of cash conversion cycle in dairy cooperatives, grouped according to: the value of tangible fixed assets and the ratio of current assets to tangible fixed assets. Cooperatives of the significant scale of production liberalize the policy of trade credit. Managers of cooperatives with the lowest value of tangible fixed assets decided to reduce the cycle of collection accounts receivables because of the conservative liquidity policy. The increase in an equipment in tangible fixed assets was accompanied by the elongation of the cycle of inventory turnover. Managers of cooperatives used a rational approach to management of accounts receivables and current liabilities, maintaining inventory turnover period at the safe level.

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