| With the advance of the "new normal" of China’s economy,the Chinese economy has shifted from high-speed growth to high-quality development,and is at a crucial stage of transforming the development model,optimizing the economic structure and shifting growth drivers.For the construction industry,the development brought by the rapid expansion of its scale is becoming the past.At present,in order to contract projects and improve market share,it is common for construction enterprises to pay for construction.There are endless cases of enterprises running into trouble due to the failure of debts to be recovered in time.The accounts receivable amount remains high,the credit environment continues to deteriorate and the bad debt loss is difficult to predict,which makes the accounts receivable risk continuously accumulate and become an important factor that restricts the development of construction enterprises for a long time.The cost of advanced funds is too high,which not only affects the capital withdrawal of enterprises,but also brings greater financial risks and operational risks to enterprises.Therefore,it has become an extremely urgent and important task to strengthen the risk control of accounts receivable.This paper takes XY Company,a subsidiary of State-owned Construction Group,as the research object.First of all,the relevant theoretical basis of accounts receivable management is combed,which lays the theoretical basis for the thesis research.Secondly,using case analysis,financial analysis and XY Company’s current accounts receivable management model,this paper analyzes the current situation of accounts receivable management,mainly including the scale and proportion of accounts receivable,the composition of accounts receivable,the turnover rate of accounts receivable,the aging analysis and the concentration analysis,etc.,and finds out the problems and their causes in the current accounts receivable management.Then,a multiple linear regression model is used to analyze the accounts receivable and business performance indicators of the enterprise in recent 8 years.The results show that the creditor’s rights conversion efficiency,the collection frequency of accounts receivable and the speed of fund collection are positively correlated with the business performance of XY Company.Finally,the whole process theory is used to put forward suggestions for improvement and safeguard measures,namely,perfecting management system,strengthening credit management,strengthening daily project management,perfecting internal payment system,optimizing collection strategy of accounts receivable,risk transfer of accounts receivable,etc.,which will help to improve the management level of accounts receivable of XY Company and provide reference for similar enterprises to strengthen the management of accounts receivable. |
