The role of the financial analysis for management of the working capital, receivables and creditworthiness of the company

Nadya Kostova (), Daniela Georgieva (), Svetlozar Stefanov (), Sofiya Ilieva (), Tsvetomir Manolov () and Aneliya Galinova ()
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Nadya Kostova: University of Economics Varna, Bulgaria
Daniela Georgieva: University of Economics Varna, Bulgaria
Svetlozar Stefanov: University of Economics Varna, Bulgaria
Sofiya Ilieva: University of Economics Varna, Bulgaria
Tsvetomir Manolov: University of Economics Varna, Bulgaria
Aneliya Galinova: University of Economics Varna, Bulgaria

in Monographic library "Knowledge and business" Varna from Publishing house "Knowledge and business" Varna

Abstract: The present research is focused on the role of the financial analysis about the management of the working capital, receivables and creditworthiness of the company. The purpose is on the grounds of information from the annual financial statements to be drawn the conceptual bases of the financial analyzing of the working capital, receivables and the creditworthiness of the company, with emphasis on drawing of an appropriate financial strategy about their management. In the circle of questions, which are considered, belong: the interconnection between the financial analysis and the financial strategy of the company as an effective instrument about its management; the role of the working capital for improvement of the financial condition of the company and its impact on the profitability; the peculiarities of the receivables and their impairment, announced in the annual financial statements of the companies and analysis of their collectability; research of existing complex systems of indexes for measuring of the creditworthiness and of the possibilities for their application and the role of the results of the financial analysis of the working capital, receivables and rating for the management and drawing of a financial strategy of the company. In confirmation of the theoretical reasonings are analyzed empirical data from the annual financial statements of the fifty companies with the highest incomes from Varna region in Bulgaria. In the excerpt are included companies from different branches and spheres of the economics. There has been used public financial and not financial information, which has been analyzed through more than 40 financial correlations, statistical and mathematical methods, as there has been studied a three year period of time from 2013 until 2015.

Keywords: financial analysis; financial strategy; working capital; turnover; profitability; liquidity; impairment of the receivables; collectability of the receivables; creditworthiness; cash flows; management of the working capital; management of the receivables; management of the rating (search for similar items in EconPapers)
Date: 2018
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