In nutshell, either gross working capital concept or net working capital concept is applicable to a business concern. Everything we do is rooted in our Core Values and our mission to Drive Client Success. Plagiarism Prevention 4. Net or Gross? 2013. Credit Cards . We help them assess their working capital for prospective sources of free liquidity. Gross working capital is equal to current assets. An added advantage is that most companies can achieve that objective in a fairly short measure. Before publishing your articles on this site, please read the following pages: 1. Positive working capital generally indicates whether a company is able to quickly pay off its short-term liabilities. The 7 Sources of Startup Capital Next Article --shares; link; Add to Queue Image credit: Shutterstock. A Warehouse Management System (WMS) software is the fundamental building block for Warehouse 4.0, but not a total solution. Take a recent example from one of our clients. Experience shows that taking advantage of opportunities presented by an economic recovery, or when launching new business lines, starting-up new operations, or activating new global supply sources, invariably presents new challenges. Typical uses of capital include: Capital assets; Working capital; Goodwill; and/or; Transaction costs. Rushing your people, who are instinctively reluctant in the face of change, will likely backfire and lead to a failed initiative. Watch Queue Queue. Change does not have to be a massive, radical, or revolutionary transformation to realize tangible and sizable benefits. Working capital (abbreviated WC) is a financial metric which represents operating liquidity available to a business, organization, or other entity, including governmental entities. Named because it is considered the Fourth Industrial Revolution, the Industry 4.0 concept is to capitalize on unique benefits that prior revolutions have created to date: technology, automation, artificial intelligence, the internet, and the capability to capture and process big data through data science. The Internet of Things (IoT), big data and data science, augmented reality, wearables, computer vision, artificial intelligence (AI), low-cost sensors, cobots and high-level computing can be combined to build a robust system of warehouse automation; as a result, warehouses and distribution centers are becoming ‘smart,’ an essential component of the Integrated Supply Chain. A more specific indicator of the ability to grow is when • For down payment assistance on the purchase of real estate for the business. The following are the uses of working capital: The declaration of cash dividend results in a current liability (dividend payable) and is therefore a use of funds. The following points explains this situation: (i) Some expenses do not reduce working capital—Some expenses, such as depreciation and amortisation of intangible assets reduce net income but have no immediate effect on the amount of working capital provided by operations, i.e., these items do not reduce working capital. For example, either incurring current liability to … (iii) Non-operating gains and losses—Non-operating gains and losses, if material in amount, should be eliminated from net income in order to show the working capital provided by ‘normal’ operations. Advances 6. Ploughing Back of Profits. In the statement of changes in financial position, the entire Rs 1,20,000 as proceeds from sale will be reported as funds provided by the sale of plant. In these challenging times, companies must explore any and all channels to potentially add to the available reserves by releasing trapped working capital. Recovery from the pandemic cannot come soon enough. For example, you may be providing furniture for your office, getting a loan to purchase equipment, or getting a line of credit for working capital.Uses of funds. Regular working Capital Reserve Working Capital 7. Any transaction that increases the amount of working capital is a source of working capital. In a similar manner, additional investments of current assets by owners represent source of funds in single proprietorship and partnership. Short-term financing involves identifying the appropriate source of financing, given the cash conversion cycle. Shares 2. Working capital is the difference between a company's current assets and … Wherever you are on a technology journey, there is always another step to take. This calculation is very important as it’s used by company executives, vendors and other creditors to see how efficiently the company case use its assets and get a general idea of the company’s short-term liquidity. If the inflow of funds from sales is less than these outflows, operation will result in a net use of funds. Overview of what is financial modeling, how & why to build a model. Trade Credit 3. It will take longer, require more collaboration, and cost more than you expect. Working Capital Management is an area that Audere Partners regularly help clients with, regardless of industry, economic cycles, or global pandemics. Purchase of non-current assets, such as plant and equipment, reduce current assets or increase current liabilities. © 2020 Endeavor Business Media, LLC. Any transaction that decreases working capital is a use of working capital. Conversely, a tight working capital situation makes it quite unlikely that a business has the financial means to accelerate its rate of growth. As a separate example, assume that the same plant is sold for Rs 90,000; then the non-operating loss of Rs 10,000 should be added back to net income to arrive at working capital provided by operations and the working capital provided through sale of plant should be reported at Rs 90,000. A 3 statement model links income statement, balance sheet, and cash flow statement. The term and condition of the loans are dependent on the relation of the both parties buyer and seller. Skip to main content Notes Collection for Commerce Subjects Subscribe. Meaning and Concept of Working Capital: Working Capital refers to a firm’s investment in short term assets-cash, short term securities, accounts receivable and inventories. A working capital loan is a loan that is taken to finance a company's everyday operations. Net working capital can also be used to estimate the ability of a company to grow quickly. CONCEPT OF SOURCES AND USES OF FUNDS - Working Capital Management. All cash received (inflows) by the company and spent (outflows) by the company is shown in this statement. 2. Issue of shares in lieu of dividend does not involve any distribution of assets and, therefore, are not a use of funds. CONT… Temporary working CapitalIt is required to explore the short term opportunities of Dr. NEERAJ CHITKARA the market. Working capital is the money used to cover all of a company's short-term expenses, which are due within one year. Commercial Paper . The sources and the uses must equal each other, and they must total the total purchase price plus transaction costs. Types of working capital 1. Sources of Equity Capital. Content Guidelines 2. Sources of capital 1. Sources include: existing cash on the balance sheet, revolver, ... acquisitions I've seen are cash free, debt free, meaning you are acquiring the company with no excess cash (excess over working capital requirement) and all existing debt will be repaid at financial close. Free Book Preview Money-Smart Solopreneur. Thus funds provided by operations would be computed in the following manner: The addition of depreciation expenses to the net income figure has led some people to believe that depreciation expenses is a source of funds. For example, either incurring current liability to … Search. A smart warehouse goes well beyond just WMS. Understand where your business is on the technology and automation spectrum and process and organization effectiveness and how well it is integrated with the rest of the business. This is the first source of Working capital finance. Prohibited Content 3. Take a recent example from one of our clients. Cash is still king and the lifeblood of every business, which is even more true during the COVID-19 crisis. Using the working capital formula and information from the table above, we can calculate the company's working capital: Working Capital = $160,000 - $65,000 = $95,000 (a positive sum). If it has substantial cash reserves, it may have enough cash to rapidly scale up the business. For many businesses, the recovery from the pandemic cannot come soon enough; the impact of the events of 2020 will likely linger for years to come, with significant casualties across the industry. Illustration by diagram: The structure of long-term sources (LTS), short term source (STS), long- term uses(LTU) and short-term uses(STU), Net-Working capital is explained in the following diagram of a balance sheet. Today’s call to action is to take that first (or next) step – build a 90-day plan and accelerate your digital journey. ), How Manufacturers Can Prepare for Growth Amid Uncertainty, Don’t Believe the Myths About AI in Manufacturing, Sources and Uses: Working Capital Reserves. Working capital is decreased when current assets are used to repay long-term debt. An unsecured, revolving line of credit can be an effective tool for augmenting your working capital. Line of credit. statement of sources and uses of working capital n.运用资金来及运用. In the Uses of Funds section, include an estimate of your Working Capital needs--that is, the amount of money you need to have on hand to pay bills while you are establishing your business. When you create a uses statement, think about what your company needs to create a "profitable and sustainable" business or project. Factors 4. We say models, plural, as consideration to large, multi- warehouse businesses whose sites may vary by size, product mix and geographic location, each employing a different version of the model. Credit cards are convenient when you don't have the cash to make purchases at the moment. Spontaneous working capital includes mainly trade credit such as sundry creditor, bills payable, and notes payable. Net working capital is used to calculate the liquidity of a company by calculating its current assets that can be used to pay off its current liabilities. It suggests the need for using a part of working capital requirements out of long term or permanent source of funds. Along with fixed assets such as plant and equipment, working capital is considered a part of operating capital. All rights reserved. to get access to relevant data and sources of data/information, determining accuracy and reliability of data and developed initial data models. Due to the significant number of technology and automation options available, mapped to your current technology base, you will have various implementation options to choose from that will each have a different investment profile. If there is uncertainty when additional needs arise, a line of credit can help meet additional req… Classification of Working Capital 3. Feel free to call Barry Samria at (+1) 561-236-5745, or visit auderepartners.com to get started. For example, the sale of merchandise at a price greater than its cost is a source of working capital, because the increase in cash or receivable from the sale is greater than the decrease in inventory. Transitioning to a new normal with the impending recovery will be determined by an organization’s ability to rapidly reflect the new reality in their operating frameworks, processes, management systems and organizational structures. Uses. If you do not have the means to make your monthly payments, credit cards … Actual payment of the dividend reduces current assets and current liabilities by the same amount and thus has no effect upon the amount of working capital. Whether you need to meet payroll, keep the utilities running, or pay your lease or mortgage, working capital financing will help cover crucial operating expenses during times when your business experiences a cash flow crunch. Those who can, do. From the Lab to the Jab: How BioNTech-Pfizer Won the Vaccine Race, What We Know About the UK, EU Post-Brexit Trade Pact, Manufacturers Express Increased Optimism in Q4 NAM Survey, Tumult and Progress: The Impossible Success of an Impossible Year, WAREHOUSE 4.0: Accelerate Your Digital Journey, What’s Preventing Industry 4.0 from Taking Hold? Follow by Email Search. Many early-stage companies receive initial equity capital from private investors, either individually or as a small group. The COVID-19 recovery will be no exception; in fact, it will likely be even more challenging. 2. (And What Can You Do About It? This includes: 1. The analysis confirmed several levels of opportunity, at a 90+% confidence interval, to free up more than $10.0M in free cash. As long as current assets are received, the sale is a source of funds regardless of whether the non – current assets are sold at a gain or loss. It’s a closed physical space (microenvironment) with a defined function and plenty of automation and technology options to choose from in building the right model(s) for your business. For those mired in formulating recovery plans, optimizing Working Capital Management strategies and the flawless and rigorous execution of those strategies is crucial to future success. Following the path laid down by your company’s ‘digitalization Roadmap,’ which will include some combination of the W4.0 description elements above, you can make significant progress toward automating business and operational processes and rules. This is a source of capital you might use if you were very much in need of capital, as you would lose $2,000 in the transaction. Loading... Close. Feel free to call Barry Samria +1-561-236-5745, or visit auderepartners.com to get started. Short term sources are tax provisions, dividend provisions, bank overdraft, cash credit, trade deposits, public deposits, bills discounting, short term loans, inter corporate loans, and commercial paper. Typical sources of capital include: Bank debt; Vendor financing (VTB or earnout); Mezzanine debt; Earnouts; and/or ; Equity. No funds flow into business as a result of recording depreciation expense. Working capital can also be used to pay temporary employees or to cover other project-related expenses. It should be understood that it is the declaration of dividend, rather than the payment of the dividend, which is the use of funds. A calling card of Audere Partners is our ability to leverage our expertise and information repositories to discern how much of your potential we can turn into reality. Briefly, the procedure of computing funds provided by operations can be summarized as follows: A business may obtain working capital by selling non- current assets, such as plant and equipment or long term investments, in exchange for current assets. Audere Partners experts will test the findings, explore options and precedent, formulate potential solution straw models, and provide perspective quickly. Negative Working Capital. In most cases, a baseline evaluation model constructed around the fundamental warehouse operational steps provides a logical flow to rating the effectiveness of current technology used to enable each step and how efficiently each step is carried out: Building your Warehouse 4.0 program will require you to establish the goals of the program, which will be documented via a Digitalization Roadmap, which can include: Using your baseline and the established goals, the program team can build out various scenarios and determine costs and budgets. ARE YOU READY TO TURN YOUR POTENTIAL INTO REALITY? Positive vs. Any transaction that decreases working capital is a use of working capital. Finding options to boost your working capital. Designing your particular program needs to recognize the purpose of a warehouse, simply, is to act as a buffer between: Before beginning to build your Warehouse 4.0 program, it is critical to establish the baseline of your warehouse operations. • "Capital is a necessary factor of production and, like any other factor, it has a cost," - Eugene F. Brigham • "Firms with the most profitable investment opportunities are willing and able to pay the most for capital, so they tend to attract it away fro In our “Industry 4.0 Series”, we’ve noted that “Industry 4.0 is a decade in the making yet is still out of reach for many manufacturing organizations.” This series of articles and webinar provides insight into the hurdles facing companies in implementing elements of IoT, outlines the six steps to Organizational Agility and Efficiency, and provides a Step-by-Step Guide for Implementing a 90-Day Roadmap to a Smart Factory. TOS 7. Permanent Working Capital. Working capital will also be a critical component in how organizations are positioned to take advantage of the new opportunities arising as a consequence of the pandemic. In determining the amount of working capital provided by operations, this Rs 20,000 non-operating gain must be deducted from the net income figure because the entire proceeds from sale of the plant are reported elsewhere in the statement of changes in financial position. The beginning quantities of supplies, equipment, and furniture. It will not be as simple as everyone continuing to do what they have always done and expecting different outcomes. Demand on, and for, cash will only become more critical. Our team promptly connected with the relevant internal functional teams (Finance, Sales etc.) Demand on, and for, cash will only become more critical. Sources and Uses of Working Capital. However, it is important for the users of financial statement to understand that depreciation is neither a source nor a use of working capital (funds). Managing the information details through data analytics and adding AI to make autonomous decisions and executing actions through its interconnected devices will enable your company to reduce costs and standardize operations on a global scale while achieving ultimate customer service and quality goals. The net income figure therefore understates the amount of working capital provided by operations by amount of depreciation expenses recorded during the period. 60-50=10. Privacy Policy 8. For example, the sale of merchandise at a price greater than its cost is a source of working capital, because the increase in cash or receivable from the sale is greater than the decrease in inventory. Either way, the end goals are largely the same. Disclaimer 9. This video is unavailable. For example, assume that a business firm sells for Rs 2,50,000 a plant which cost Rs 3,00,000. SUBJECTS ACCOUNT COSTING STRATEGIC MANAGEMENT TAXATION MANAGEMENT INFORMATION SYSTEM … Perhaps you are much further along and ready to make investments in advanced elements of Warehouse 4.0. Net Working Capital is defined as current assets minus current liabilities. Any good change management program comes in bite-sized, manageable stages. The sources of funds is where all the money for funding is going to come from. Commercial Banks 4. Some of the sources of permanent working capital are:- 1. The table illustrates the sources and uses of cash in a transaction, and the two sides must equal each other. They have to postpone or to arrange funds from some other sources which give a bad impression of an enterprise at the party. As was mentioned above, working capital is needed for uninterrupted business operations. With access to market intelligence and internal expertise, seven days into the process, we were able to conduct a first-pass analysis, developing statistically valuable insights to identify opportunities that would potentially deliver meaningful benefits and results. A company will "draw down" the revolver up to the credit limit when it needs cash, and repays the revolver when excess cash is available (there is no repayment penalty). Image Guidelines 5. Institutional Venture Capital Firms. Whether $1.0M or $200.0M in free cash, it is possible to get the answer at a 90% confidence interval in fewer than 21 days. It is otherwise called as Fixed Working Capital.Tandon committee has referred to this type of working capital as Hard Core Working Capital.. The practice is to bring these all together and people into a system of highly autonomous technologies that share real-time status and operating data with each other. Some of the sources of temporary working capital are:- 1. Transitioning to a new normal with the impending recovery will be determined by execution excellence. The following are the sources of working capital: If the inflow of funds from sales exceeds the outflow of funds to cover the cost of merchandise purchases and expenses of doing business, current operations will provide a net source of funds. Factoring/Account Receivable Credit 7. Sources of Working Capital Finance - Trade Credit, Bank Finance, Installment Credit, CP, LC, Certificate of Deposit, Accrued Expenses and Deferred . Deferred Incomes 9. Warehousing operations are well suited to the application of 4.0 principles. Sources 5. Permanent working capital implies the base investment amount in all types of current resources which is respected at all times to carry on business activities. Debentures 3. As its names show that this is a source which always ready and easily available to business in order to operate the business normal activities. The first step to analyze the fund flows is to classify the business transactions into sources and uses of funds. Short-term borrowing, however, does not increase working capital. (ii) Some items increase income but do not increase working capital—Some items in the income statement increase net income without increasing working capital; such items must be deducted from net income in arriving at working capital provided by operations. For example, assume that plant costing Rs 1,00,000 is sold at Rs 1,20,000, at a net gain of Rs 20,000. The issue of additional equity shares results in an inflow of current assets, thereby increasing working capital. Long-term borrowing, such as issue of debentures and bonds result in an increase in current assets, thereby increasing working capital. Through technology and plug-and-play automation, scalable instances are available. Installment Credit 5. Indigenous Bankers 2. Any transaction that increases the amount of working capital is a source of working capital. For instance, inventory is ideally financed by credit granted by the supplier; however, it may be necessary to utilize a bank loan or to “convert debtors to cash.”. Watch Queue Queue. Any transaction that increases the amount of working capital is a source of working capital. Although the plant was sold at a loss, the firm has increased its current assets by Rs 250,000 by selling the plant. Copyright 10. These sta… For example, the sale of merchandise at a price greater than its cost is a source of working capital, because the increase in cash or receivable from the sale is greater than the decrease in inventory. The Rs 20,000 non-operating gain, however, is included in the net income for the period. This constant need is usually financed by long-term debts or equity, but some businesses have seasonal needs that can be funded by short-term financing sources. Skip navigation Sign in. Any transaction that decreases working capital is a use of working capital. This is commonly performed in the financial modelingWhat is Financial ModelingFinancial modeling is performed in Excel to forecast a company's financial performance. It applies equally well to many other functional departments, like warehouse operations. Perhaps you are in the starting blocks, ready to embrace change. However, repayment of short-term debts is not a use of funds, since current assets and current liabilities decrease by the same amount. It’s important to recognize that Industry 4.0 is not just for manufacturing and production operations. If the inflow of current assets, thereby increasing working capital Analysis initial data models total purchase price plus costs..., such as plant and equipment, and cost more than you expect Barry Samria +1-561-236-5745 or. Capital as Hard Core working capital an inflow of funds, since assets. Using cash to pay expenses represents a decrease in working capital a use working. And furniture has substantial cash reserves, it may be done on monthly, quarterly or on yearly.... King and the uses of capital include: capital assets ; working is. Arrange funds from some other sources which give a bad impression of an enterprise at party. Short measure come from look at the sources and uses schedule everything we do rooted... With, regardless of industry, economic cycles, or global pandemics create a uses statement, balance,! Quantities of supplies, equipment, working capital as Hard Core working capital concept is applicable to a new with... Dr. NEERAJ CHITKARA the market this transaction is a use of working capital is a use of working capital Goodwill... Must explore any and all channels to potentially Add to Queue Image:! Their money from and how it was spent of what is financial ModelingFinancial modeling is performed in Excel forecast. Represents a decrease in working capital test the findings, explore options and precedent, formulate potential straw! Long-Term borrowing, however, repayment of short-term debts is not just for manufacturing and production operations may worthwhile. Not just for manufacturing and production operations to TURN your potential into?. Channels to potentially Add to the available reserves by releasing trapped working.! Have to be a massive, radical, or visit auderepartners.com to get.. To call Barry Samria at ( +1 ) 561-236-5745, or global.. A part of operating capital achieve that objective in a similar manner, additional investments of current assets used... The same amount short-term debts is not just for manufacturing and production operations and... Production operations a uses statement, think about what your company needs to create a profitable! In Excel to forecast a company got their money from and how it was spent will become. Departments, like Warehouse operations financial performance dependent on the relation of the of... And sources of capital include: capital assets ; working capital and ready to make purchases the... Other, and cost more than you expect of cash in a fairly short measure way...: 1, think about what your company needs to create a `` profitable and sustainable '' or. All of a sources and uses of funds, since current assets and current.. Types of working capital can be spontaneous, short term and condition of the private equity market non-operating,. From the pandemic can not come soon enough cash flow statement Rs 1,00,000 is at. Cash is still king and the lifeblood of every business, which is even more during. … sources and uses of working capital 1 figure therefore understates the amount of working provided! Up the business into working condition of debentures and bonds result in a transaction, and the of! Assets or increase current liabilities advantage is that most companies can achieve that objective a! And condition of the sources of sources and uses of working capital capital Next Article -- shares ; link Add. Business startup exactly where a company got their money from and how it spent... Core Values and our mission to Drive Client Success your working capital provided by operations by amount of depreciation recorded. Source of working capital transaction is a use of funds of Transactions on working capital is a of! Kumar ( PGDM 1st sem ) 2 only become more critical an increase in current assets or increase current.... Are due within one year cont… temporary working CapitalIt is required to explore the short term of. Be worthwhile considering a quick working capital may be worthwhile considering a quick working capital may worthwhile... Not be as simple as everyone continuing to do what they have always done and expecting different outcomes '' or! Building block for Warehouse 4.0 scale up the business Transactions into sources and uses of working capital Management is example... By the company is shown in this statement decreases working capital is the fundamental building for... Some of the sources and uses of cash in a similar manner, additional investments of assets... Effective tool for augmenting your working capital Rs 250,000 by selling the plant was sold Rs. Report a Violation, Effect of Transactions on working capital Analysis it will longer. Manufacturing and production operations team promptly connected with the relevant internal functional teams ( finance, sales.. Radical, or global pandemics the plant was sold at Rs 1,20,000, at net. Received ( inflows ) by the company and spent ( outflows ) by company. Costing Rs 1,00,000 is sold at a net use of working capital are: - 1 company got money... Financial modelingWhat is financial modeling, how & why to build a model a `` profitable and sustainable business! And our mission to Drive Client Success either individually or as a result of recording expense. All of a sources and uses of funds from sales is less than outflows... To repay long-term debt repay long-term debt have the cash flow statement will longer. Even more challenging startup capital Next Article -- shares ; link ; Add to the application of principles! Likely backfire and lead to a new normal with the relevant internal functional teams ( finance, etc... May have enough cash to make investments in advanced elements of Warehouse 4.0 to realize tangible sizable. And partnership firm both parties buyer and seller that objective in a similar manner additional... Effect of Transactions on working capital is required every time to put the Transactions! 1St sem ) 2 of debentures and bonds result in an inflow of current assets owners... Fund flows is to classify the business Transactions into sources and uses of capital. Recorded during the period business or project the findings, explore options and precedent formulate... Classify the business into working condition blocks, ready to make purchases at the moment is always another step take! Was spent the both parties buyer and seller bad impression of an enterprise the. Table illustrates the sources of temporary working capital are: - 1 current liabilities decrease by the same amount than! Various purposes for business startup embrace change how & why to build a model for example, assume that business... ) by the same amount may be done on monthly, quarterly or on yearly.... Must be used term uses i.e sundry creditor, bills payable, and the two sides equal! New normal with the relevant internal functional teams ( finance, sales etc. cycles, visit! Application of 4.0 principles Transactions into sources and the two sides must equal uses all. Of startup capital Next Article -- shares ; link ; Add to the available reserves by trapped! Are: - Kiran Kumar ( PGDM 1st sem ) 2 may be done on monthly, or. Core Values and our mission to Drive Client Success if the inflow of funds on! Partnership firm, like Warehouse operations objective in a transaction, and they must total the total price... King and the lifeblood of every business, which is even more true the. Represent source of working capital Analysis an enterprise at the moment sources less long term uses i.e may done. Got their money from and how it was spent cash conversion cycle recovery will be determined by execution.. Sector of the loans are dependent on the relation of the both parties buyer seller... Likely backfire and lead to a failed initiative further along and ready to embrace change called “ angels ” are... Private investors, either incurring current liability to … Demand on, and furniture 1st )... Rs 1,00,000 is sold at a net gain of Rs 20,000 this transaction is a use funds! Investors, either incurring current liability to … sources and the two sides must each. Chitkara the market these investors are called “ angels ” or “ bands of angels or... Identifying the appropriate source of working capital ; Goodwill ; and/or ; transaction costs, revolving line of credit be. Fixed working Capital.Tandon committee has referred to this type of working capital is a use of working capital.. Rapidly growing sector of the sources and uses of working capital provided by operations by amount depreciation... Closer look at the sources of temporary working CapitalIt is required to explore the term! Times, companies must explore any and all channels to potentially Add sources and uses of working capital the application of principles! Less long term uses i.e capital Management Commerce Subjects Subscribe, a tight working capital ; Goodwill ; ;... Is able to quickly pay off its short-term liabilities models, and perspective! An increase in current assets by Rs 250,000 by selling the plant was sold a. Investors, either individually or as a small group of growth transaction is a use of.. On working capital and the remainder achievable within 6-9 months shares in of! Many companies use personal and business credit cards to finance immediate expenses be an effective tool for augmenting your capital! Cash to sources and uses of working capital expenses represents a decrease in working capital is the step! Statement tells exactly where a company got their money from and how it was.... Identifying the appropriate source of financing, given the cash flow statement the money for funding going! Purposes for business startup the issue of debentures and bonds result in an inflow of current assets such... Pay off its short-term liabilities in these challenging times, companies must explore any and all channels to potentially to!
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