Research On Factoring Financing And Optimization Of Accounts Receivable Of Yutong Bus Company

With the continuous development of market economy,the commodity market has gradually changed from seller’s market to buyer’s market,and credit sales have become a wide range of payment terms,thus generating a large amount of accounts receivable.Accounts receivable is an important current asset of enterprises,which can reduce the inventory pressure of enterprises and increase sales.However,large-scale accounts receivable will occupy the working capital of enterprises,increase the risk of bad debts and affect the sustainable development prospects of enterprises.How to revitalize the large amount of enterprise accounts receivable and realize this part of accounts receivable in advance has become an important goal of automobile industry financing.Accounts receivable factoring financing,as a new financing method,can improve the management of accounts receivable and broaden the financing channels of enterprises.It is gradually recognized by many financial institutions and enterprises and has been developed rapidly.This thesis discusses the necessity and effect of the implementation of accounts receivable factoring financing for Yutong Bus,and provides reference for other enterprises that also have large accounts receivable and need to improve their financial situation.This thesis adopts case analysis method and financial analysis method to study enterprise accounts receivable factoring financing.Firstly,it reviews relevant domestic and foreign literature and summarizes related concepts and theories of accounts receivable factoring financing to provide theoretical support for subsequent research.Secondly,it introduces the current situation of accounts receivable in Chinese enterprises and the general situation of the market development of accounts receivable factoring financing.Then,Yutong Bus is introduced as a case enterprise to analyze the necessity,implementation conditions and basic operation flow of the implementation of accounts receivable factoring financing.Then,from the two dimensions of direct effect and indirect effect,the changes of Yutong Bus before and after the implementation of accounts receivable factoring financing are compared and analyzed,and the implementation effect of this plan is studied.Finally,on the basis of the optimization suggestions for the case enterprises,the enlightenment on accounts receivable factoring financing for other manufacturing enterprises is drawn,and the research conclusion is drawn.In the case study,it is found that before Yutong Bus carries out receivables factoring financing,there are problems such as slow realization of receivables,large cash gap and single financing channels,so it is urgent to seek new financing methods to reduce business risks.As Yutong Bus has the advantage of carrying out factoring financing,national policies and financial institutions also provide guarantee for it,so that it has the basis of carrying out factoring financing of a large amount of accounts receivable.After carrying out accounts receivable factoring financing,enterprises effectively improve the level of accounts receivable management,reduce financing costs and increase wealth effect,but there are some risks.Based on the above analysis,the following optimization suggestions are put forward.First,Strengthen the management of accounts receivable and increase the amount of factoring financing;Second,build an information platform to reduce information asymmetry;Third,enrich the types of factoring financing and reduce financing costs.