Research On Z Company Accounts Receivable Pledge Financing

In recent years,the construction industry has made great progress due to the support of national policies.However,because of the shortage of funds and insufficient capital investment,the financing difficulties of small and medium-sized construction enterprises continue to occur.Therefore,how to solve the financing problem of small and medium-sized construction enterprises has become the top priority of promoting small and medium-sized construction enterprises.Small and medium-sized construction and installation enterprises are at a disadvantage of negotiation in trading activities.They often attract customers by advance payment,occupy more of their own free funds,which easily leads to problems in enterprise capital turnover.It is particularly important whether a large number of accounts receivable can be financed.Therefore,the use of accounts receivable financing has become an important measure for small and medium-sized construction enterprises to solve the problem of insufficient capital.Taking Z company as an example,this paper discusses the problems existing in its accounts receivable pledge financing business,analyzes the causes of the problems,and puts forward Suggestions for improvement,hoping to provide reference for other construction and installation enterprises to carry out related business.This paper adopts literature analysis method and case analysis method.Firstly,it elaborates the research background and significance,and sorts out domestic and foreign research literature.Secondly,it introduces the financing method of accounts receivable,and provides theoretical support for the financing of accounts receivable pledge based on the theory of information asymmetry,risk management and cost benefit.Thirdly,selecting Z company from 2016 to 2018 financial data analyzes its accounts receivable,accounts receivable turnover efficiency from the perspective of financial evaluation,and introduce the Z company in the near future the pledge of accounts receivable of the business situation.We discuss the existing in the actual operation internal lack of credit system,t finance management,dynamic management team and the lack of pledge of accounts receivable pledge.Finally,the paper puts forward some suggestions on improving Z company's accounts receivable pledge financing from the aspects of perfecting the system,building a team and strengthening dynamic management.