Factoring as a Form of Accounts Receivables Re-financing

Tamara Hovorushko (), Inna Sytnyk () and Kateryna Stepanenko ()
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Tamara Hovorushko: National University for Food Technologies
Inna Sytnyk: National University for Food Technologies
Kateryna Stepanenko: National University for Food Technologies

Oblik i finansi, 2012, issue 4, 35-40

Abstract: This article covers the essence of factoring. The need for its use by Ukrainian businesses for the purpose of quick debt recovery was identified. Increasing of competitiveness and efficiency of management of all kinds of resources is rather significant for successful business development in Ukraine nowadays. The global economic turmoil has sufficiently influenced the economy of Ukraine, thus the problem of non-payment and shortage of working capital remain acute which can be evidenced by the proportion of accounts receivable and payables in the balance sheet. The use of factoring as an up-to-date form of re-financing is one of the ways to solve this problem which would result in effective management of business accounts receivable.

Keywords: Factoring; factoring transactions; accounts receivable; financial institutions; factoring companies (search for similar items in EconPapers)
JEL-codes: G30 (search for similar items in EconPapers)
Date: 2012
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