A descriptive survey was sent to 434 food service and lodging companies May, June, and August of 1983. The objective of this survey was to investigate and assess current cash management practices. A response rate of 21.89% was received. After the surveys were returned, results were analyzed in two ways: by frequency distribution tables and hypotheses testing. The frequency distribution tables described the results of the data. Hypotheses testing described the relationship between the independent variables, which are; the percent of assets held as cash, dollar value of net corporate assets, and level of revenue, and the dependent variables, which are prescriptive cash management techniques. Survey results concluded that the larger the firm, as measured by asset base and level of revenue, the more sophisticated its cash management practices. Larger firms, as measured by asset base and level of revenue, more often follow prescriptive cash management practices than smaller firms. Based on the conclusions of the Survey of Cash Management, it is recommended that small firms follow theoretical cash management practices. / M.S.

Esta tesis investiga el problema de gestión de tesorería desde un punto de vista multidimensional. La gestión de tesorería trata de equilibrar la cantidad que se mantiene en efectivo y la que se dedica a inversiones a corto plazo. Normalmente, los tesoreros toman decisiones basándose en el nivel óptimo de tesorería por motivos operativos y de precaución. En esta tesis exploramos las oportunidades para mejorar la toma decisiones derivadas de modelar la incertidumbre presente en los flujos de caja con la ayuda de procedimientos basados en datos en un entorno multiobjetivo. Por un lado, los tesoreros pueden conseguir ahorros a través de la previsión de tesorería. Para ello, realizamos un estudio empírico con el objetivo de aprovechar las más recientes técnicas de aprendizaje automático como paso clave para conectar el análisis de los datos disponibles con los procesos de optimización en la gestión de tesorería. Por otro lado, los tesoreros pueden estar interesados no solo en el coste sino también en al riesgo asociado a sus decisiones. Por esta razón, tratamos el problema de gestión de tesorería desde una perspectiva multiobjetivo, considerando tanto el coste como el riesgo. Además, debido a la cambiante situación financiera actual, exploramos la selección de modelos de gestión de tesorería en función de diferentes condiciones operativas y de su robustez. También demostramos la utilidad de las previsiones a través de un nuevo modelo de gestión de tesorería que mejora el estado del arte al garantizar soluciones óptimas. Como la mayoría de las empresas trabaja con sistemas de tesorería con múltiples cuentas bancarias, desarrollamos un marco para la formulación y solución del problema de gestión de tesorería con múltiples cuentas bancarias. Finalmente, en un intento de acercar teoría y práctica, también ofrecemos una librería de software en Python para usuarios interesados en la construcción de sistemas de ayuda a la toma de decisiones en gestión de tesorería. / This thesis investigates the cash management problem from a multidimensional perspective. Cash management focuses on finding the balance between cash holdings and short-term investments. Typically, cash managers make decisions based usually on a firm's optimal cash balance for operational and precautionary purposes. We here explore the opportunities for improved decision-making derived from modeling cash flow uncertainty with the help of data-driven procedures within a multiobjective context. On the one hand, cash managers may achieve cost savings by forecasting future cash flows. To this end, we perform an empirical analysis of daily cash flow time-series to take advantage of modern machine learning techniques as a key step to connect data analysis and optimization methods in cash management. On the other hand, cash managers may be interested not only in the cost but also in the risk associated to decision-making. Thus, we address the cash management problem from a multiobjective perspective focusing on both cost and risk. In addition, under the current situation of time-varying financial circumstances, the selection of cash management models according to operating conditions and its robustness are worth considering questions. We also show the utility of forecasts through a new cash management model which outperforms the state-of-the-art by guaranteeing optimal solutions. Since most firms usually deal with cash management systems with multiple accounts, we develop a framework to formulate and solve the multiple bank accounts cash management problem. Finally, in an attempt to fill the gap between theory and practice, we also provide a software library in Python for practitioners interested in building decision support systems for cash management. / Esta tesi investiga el problema de gestió de tresoreria des d'un punt de vista multidimensional. La gestió de tresoreria tracta d'equilibrar la quantitat que es manté en efectiu i la que es dedica a inversions a curt termini. Normalment, el tresorers prenen decisions basant-se en el nivell òptim de tresoreria per motius operatius i de precaució. En aquesta tesi explorem les oportunitats per millorar la presa de decisions derivades de modelitzar la incertesa present en els fluxos de caixa amb l'ajuda de procediments basats en dades. Per un costat, els tresorers poden aconseguir estalvis de costos mitjançant la previsió de tresoreria. Per tal d'aconseguir-ho, realitzem d'un estudi empíric amb l'objectiu d'aprofitar les més recents tècniques d'aprenentatge automàtic per connectar l'anàlisi de les dades disponbiles amb els procesos d'optimització en la gestió de tresoreria. Per altra banda, els tresorers poden estar interessats no sols en el cost sinó també en el risc associat a les seues decisions. Per tant, tractem el problema de gestió de tresoreria des d'un punt de vista multiobjectiu, fixant-se tant en el cost com en el risc. A més a més, degut a la canviant situació financera actual, explorem la selecció de models de gestió de tresoreria en funció de diferents condicions operatives i de la seua robustesa. També demostrem la utilitat de les previsions mitjançant un nou model de tresoreria que millora l'estat de l'art al garantir solucions òptimes. Com que la majoria d'empreses treballa amb sistemes de tresoreria amb múltiples comptes bancaris, desenvolupem un marc per a la formulació i solució del problema de gestió de tresoreria amb múltiples comptes bancaris. Finalment, en un intent d'apropar teoria i pràctica, també oferim un llibreria en Python per a usuaris interessats en la construcció de sistemes d'ajuda a la presa de decisions en la gestió de tresoreria. / Salas Molina, F. (2017). DATA-DRIVEN DECISION-MAKING AND ITS APPLICATION TO THE CORPORATE CASH MANAGEMENT PROBLEM [Tesis doctoral]. Universitat Politècnica de València. https://doi.org/10.4995/Thesis/10251/95408

Decreasing revenues and the public's natural antipathy towards taxes have made cash management crucial to the financial health of any organization. Local government financial executives have become increasingly aware that cash is an asset that must be used wisely, unless it is to become a liability. Thus, there have emerged serious efforts by local government finance executives to maximize the utility of every dollar available to their jurisdictions: first, by influencing the availability of receipts while delaying the outflow of funds; second, by investing available funds in interest yielding securities until the funds are needed to meet legal commitments and obligations. Although this perspective is easily stated, it is common knowledge that local jurisdictions encounter insurmountable obstacles in the effort to maximize the returns on their investments of temporarily idle funds. This study has evaluated local government cash management policies and practices with a view to identifying those factors militating against the efforts to achieve optimum returns on investments. A cash management questionnaire supplemented with very elaborate personal and telephone interviews constituted the diagnostic tool that facilitated the collection of the data necessary to: (a) develop an understanding of contemporary money management policies and practices in local governments; (b) evaluate the effectiveness of these policies and practices; (c) identify and describe the constraints that impede efforts to optimize investment returns in the public sector; and (d) develop strategies that will enable local government finance executives to cope with the identified constraints. The study found that local governments face three kinds of constraints in the attempt to maximize the return on their investments of financial assets. First, there are problems that are internal and peculiar to each local jurisdiction, such as inadequate resources: funds to invest and the skills to search for the right investment instruments under a given set of circumstances; second, there are legal and political constraints imposed by higher governments such as the requirement that public funds can only be invested in certain instruments, and the prescription that local governments do business with specified banks. In some jurisdictions, how much money should be deposited in each bank are also legislated. Third, there are constraints imposed by exogenous factors such as interest rates, minimum investment requirements and the naturation dates of investments. The study also found that local finance executives try to achieve some social responsibility through a careful manipulation of their jurisdiction's cash management techniques. Given these factors, public institutions can not achieve maximum levels of return on investment; they can only achieve satisficing returns. / Ph. D.

Dai Yi. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2003. / Includes bibliographical references (leaves 79-82). / Abstracts in English and Chinese. / ABSTRACT --- p.i / ACKNOWLEDGEMENT --- p.iii / TABLE OF CONTENTS --- p.iv / LIST OF TABLES --- p.vi / CHAPTER / Chapter ONE --- INTRODUCTION --- p.1 / Background / Purpose / Summary of hypotheses and results / Organization / Chapter TWO --- REVIEW OF THEORIES AND LITERATURE --- p.5 / The Literature on ownership structure / Theoretical explanations for capital structure / The Literature on investment-cash flow sensitivities / Chapter summary / Chapter THREE --- DATA COLLECTION --- p.15 / Sample selection / Ownership and control definition / Patterns of the East Asian Firm Ownership / Country characteristic variables / Chapter summary / Chapter FOUR --- THE RELATIONSHIP BETWEEN OWNERSHIP STRUCTURES AND FIRM LEVERAGE --- p.23 / Rationale for the study / Hypothesis / Description of regression variables / The Heteroscedasticity problem and solution / Regression results / Accounting for country effects / Chapter summary / Chapter FIVE --- THE RELATIONSHIP BETWEEN OWNERSHIP STRUCTURES AND INVESTMENT-CASH FLOW SENSITIVITY --- p.42 / Theoretical framework / Hypothesis / Regression specification / Summary statistics / Empirical findings / Country characteristic control / Chapter summary / Chapter SIX --- CONCLUSION --- p.52 / TABLES --- p.54 / BIBLIOGRAPHY --- p.79

Made available in DSpace on 2016-04-25T18:40:20Z (GMT). No. of bitstreams: 1 ModelosAdministCaixa-final.pdf: 398880 bytes, checksum: d603d80b6b81b6b275d8aa7a9cdefe88 (MD5) Previous issue date: 2006-09-13 / nenhum / The cash consists in the more critical asset and most liquid to be managed by the company, in function of its relative unpredictably, of the costs incurred into its funding when of the existence of a cash deficit and of the opportunity cost of its investments how much a surplus of cash occurs (cash excess). As much the lack as the cash excess compromises the reach the main objective of the administration who is the maximization of the company s value for the shareholders. The main purpose of this study is to identify the application of cash management models presented in the theory of financial management by sugar and alcohol plants, hosted in the region of Sertãozinho in the State of São Paulo. First of all we study the theoretical aspects of the cash management and research of field through questionnaire sent to five companies later selected. We conclude that the companies do not use the cash management models existing in the theoretical field substantially by the ignorance and by the transaction cost disregard regarding the benefit generated by the interest income provided by financial market. Analyses of cost benefit are accomplished considering only the opportunity cost or interest income. We notice that the companies focus to work with cash balance near to zero using tools of purchase, production and sale budget for projection to long term and historical of lasts payments combined with information from areas of Accounts Payable and Collecting for short term projection. As they are large companies they use resources investment and funding agile bank products that favors a cash management satisfactory management, even without the models utilization mentioned by the theory / O caixa consiste no ativo mais líquido e mais crítico de ser administrado pela empresa, em função de sua relativa imprevisibilidade, dos custos incorridos na sua obtenção quando da existência de um déficit de caixa (falta de caixa) e dos custos de oportunidades decorrentes de sua aplicação quanto ocorre um superávit de caixa (excesso de caixa). Tanto a falta como o excesso de caixa compromete o alcance do objetivo principal da administração que é a maximização do valor da empresa para o acionista. O principal objetivo deste estudo é identificar a aplicação dos modelos de administração de caixa apresentados na teoria de administração financeira pelas usinas de açúcar e álcool sediadas na região de Sertãozinho no Estado de São Paulo. Inicialmente estudamos os aspectos teóricos da administração de caixa detalhados no capítulo de fundamentação teórica e posteriormente pesquisa de campo através de envio de questionário as cinco empresas selecionadas. Concluímos que as empresas não utilizam os modelos de administração de caixa existentes no campo teórico substancialmente pelo desconhecimento e pela desconsideração do custo de transação em relação ao beneficio gerado pelos rendimentos do mercado financeiro. Analises de custo beneficio são realizadas considerando somente o custo de oportunidade ou juros. Notamos que as empresas objetivam trabalhar com caixa próximo de zero utilizando ferramentas de orçamento de compras, produção e vendas para projeção de longo prazo e histórico de últimos pagamentos combinado com informações das áreas de Contas a Pagar e Cobrança para projeção a curto prazo. Como são empresas de grande porte utilizam ágeis produtos bancários de investimento e captação de recursos o que favorece uma satisfatória administração de caixa, mesmo sem a utilização dos modelos abordados pela teoria

SyfteSyftet med denna uppsats är att undersöka hur revision av företag inom restaurangbranschen ser ut och få ökad förståelse för svårigheterna. Dess syfte är även att söka information om hur den interna kontrollen sköts i företag inom restaurangbranschen. Denna studie skall presentera intressanta åsikter om hur revision inom restaurangbranschen kan underlättas.  Bakgrund:    Att bevaka företagets tillgångar kan vara ett problemområde vilket kan existera i samtliga verksamma företag. Hos dessa utgör oftast intäkterna den största posten i företaget och det är därför viktigt att företaget har kontroll på denna post. Restaurangbranschen är en av de mest fuskbenägna branscherna, detta visar Skatteverkets granskning. Det finns en problematik med att se till att alla kontanter från försäljning verkligen hamnar i kassan. För att förebygga detta är det bra att ha ett system för intern kontroll. Metod:            I denna studie har den kvalitativa metoden använts för att uppnå uppsatsens syfte och besvara problemformuleringen. Studiens primärdata är baserade på personliga intervjuer med fem kvalificerade revisorer, som har erfarenhet av restaurangbranschen. Utöver detta har två restaurangägare och två skatterevisorer intervjuats för att få en djupare förståelse. Slutsats:          Det praktiska tillvägagångssättet vid revision av företag inom restaurangbranschen skiljer sig inte jämfört med andra branscher mer än att större fokus läggs på intäktsredovisningen. Med anledning av att restaurangbranschen i majoritet utgörs av mindre restaurangföretag som anses ha en större problematik med att ha en god intern kontroll utgör substansgranskning i regel tillvägagångssättet vid revision av företag inom restaurangbranschen. Det mesta tyder på att restaurangföretagets behov av systematisk intern kontroll beror till stor del av dess omsättning och ägarens roll i företaget. Den rimligaste tolkningen är att kontanthantering är det huvudsakliga bakomliggande problemområde inom restaurangbranschen. / Purpose:         The purpose of this thesis is to investigate auditing in the catering industry and to gain better understanding of the difficulties faced. Its purpose is also to seek detailed information on how a restaurants internal control is handled. This study will present interesting views on how the auditing process can be simplified in the catering business. Background: To monitor the company's assets can be a problem area which can exist in all operating companies. In these are usually revenues the major part within a company and it is therefore important that the company has control on this record. The catering business is one of the most cheating prone businesses; this is shown in a review done by the Swedish Tax Agency. There is a problem to ensure that all cash from sales actually end up at checkout. To prevent this, it is beneficial to have a system of internal control.  Method:         In this study, the qualitative method has been used to accomplish the purpose of the thesis and answer the problem statement. The studies primary data are based on face-to-face interviews with five qualified accountants, who have experience in the catering business. In addition to this, two restaurant owners and two tax accountants were interviewed in order to gain a deeper understanding of all the issues involved. Conclusion:    The practical approach in auditing firms in the catering business is no different compared to other businesses except greater focus on revenue recognition. Given that the majority of the catering business consists of smaller restaurant companies, they are considered to have a major problem with having a well functional internal control is substantive testing in general practices relating to the audit of companies in the catering industry. Most indications are that the restaurant company's need for systematic internal control depends to a large portion of its sales and owner's role in the company. The most reasonable interpretation is that cash management is the main underlying problem area in the catering business.

商業銀行傳統的活期性存款業務，是以臨櫃收付款作業為主，近年來歐美銀行開始嘗試將「收付款」、「帳戶管理」、「資金歸集」及「資訊查詢」等銀行各項服務，整合包裝成客製化服務，這種以滿足企業日常營運資金管理需求的服務，稱為「現金管理業務」。該業務不但可獲得穩定的存款利潤，更有助於銀行對優質客戶之經營。 「現金管理業務」濫觴於歐美先進國家，近年來在中國大陸的銀行實務或論文研究，都受到廣泛的關注討論。相較之下，雖然國內部份銀行亦發展及應用相關產品，但此業務在國內一直未受到有體系的研究。本論文研究主題為藉由個案研究來瞭解「現金管理業務」在銀行之發展實務，並收集中國大陸商業銀行對此業務之發展狀況，以探討「現金管理業務」主客觀條件限制、作業風險、潛在市場及未來深入發展方向。 本論文研究案例銀行企業金融部門在發展「現金管理業務」後，活期性存款之餘額、淨利息收入及手續費收入均大幅成長。不僅案例銀行獲利能力提昇，且因與重要客戶在資訊系統、營運模式與財務管理上之緊密結合，更強化了客戶關係與客戶經營。「現金管理」已成為案例銀行提高市場競爭力之核心業務。 / The current account deposit operation of traditional commercial banks is mainly based on settlement operation provided over the counter. Recently, Western banks have been trying to packaging different services, such like “Collection & Payment”, “Account management”, “Funding Planning”, “Information Inquires” and others to provide customized service to meet with client’s daily operational funding needs, which is so called “Cash Management Service”( The Service). The Service is very useful for the bank to serve good customers out of the stable deposit profit generated. The Cash Management Service was initiated from the Western Banks. However, it has gained widespread discussion in the banking research of China over the recent years, in the fields of both practical and theoretical. Comparatively, although the domestic banks have also developed and applied related products, but there are still short of systematic research over the operation in Taiwan . The purposes of the research is to, via case study, analyze the current banking practice of the Service. In addition, it summarizes the current development of the Service operation in China Commercial Bank to discuss the subjective and objective condition limit, the operating risk, the potential market and further product development of the “the cash management service”. After applying the Service, the subject bank has experienced huge growth in aspects of current deposit outstanding, net interest income and fee income. Other than increasing of profitability, it also tightens the relationship and preservation with the clients due to the closer arrangement to corporate customers in terms of information system, business model and financial management. The Cash Management Service has become the core business of the subject bank to enhance the market competitiveness.

Betalningsstjänsten Swish lanserades 2012 i Sverige då efterfrågan att betala med mobilen uppkom och applikationen har numera 6 miljoner användare. Däremot är procenten av användarna i åldern över 66 år väldigt låg i jämförelse till hur användandet ser ut i de lägre åldrarna. Samtidigt minskar kontanthanteringen och användning av kontanter över lag. Sverige kan komma att bli kontantfritt redan år 2023. Vilket kan medföra att olika demografiska grupper kommer att hamna utanför digitaliseringen, däribland äldre. Äldre har byggt ett förtroende för användning av kontanter och vanor under en längre tid, därför kan det bli svårt adoptera nya elektroniska lösningar. På grund av den låga användningen av äldre fokuserar denna studie på vilka brister som gör att de inte använder Swish i och med klyftan mellan teknikanvändning och ålder. Till studiens har det valts respondenter som är över 65 år då det är där som procentantalet sjunker i användandet av Swish. För att uppnå studiens syfte har en kvalitativ metod valts där olika intervjuformer har utförts under hösten 2017 och vinter 2018. Sex stycken respondenter har intervjuats, därefter har en tematisk analys utförts. I diskussionen framgår det att ingen av respondenterna använder Swish frekvent, utan ser det mer som en nödlösning. Samtliga respondenterna finner användandet av Swish som enkelt och har uppfattning om att Swish känns säkert då Sveriges banker står bakom skapandet, samt att en legitimering av BankID krävs. Sambandet mellan hög utbildning och tillgång till teknik togs upp till diskussion. Slutligen diskuterades det hur respondenterna hade kommit i kontakt med Swish. Resultatet av studien finner inte några svårigheter med användbarheten hos äldre, utan istället är det och säkerheten värderas högt. Den upplevda säkerheten för Swish är stor tack varje Sveriges banker och legitimering med BankID. Dock upplever respondenterna inga fördelar gentemot andra betalningsalternativ och användandet är inte stort. För att göra applikationen mer attraktiv för äldre bör därför Swish fokusera på att skapa ett behov som inte övriga betalningsmetoder kan uppfylla. / The payment service Swish was launched in Sweden 2012 when the demand to pay with the mobile came up and now the application got six million users. On the other hand, the percentage of users over the age of 65 is low compared to the younger ages. At the same time, cash management and the use of cash across the board will decrease. Sweden may be free of cash already in 2023. Which can lead to different demographic groups come outsides of the digitalization, including the elderly? Older people have built trust in the use of cash and habits for a long time, so it can be difficult to adopt new electronic solutions. Due to its low usage of older people, this study focuses on the shortcomings that make them not use Swish with the gap between technology use and age. The study has chosen to include respondents over 65 years old because it is after that the percentage drops in the use of Swish. In order to achieve the purpose of the study, qualitative method has been chosen in which different interviews were conducted in autumn 2017 and winter 2018. Six respondents have been interviewed, after which a thematic analysis has been conducted. In the discussion it appears that none of the respondents use Swish frequently, instead it looks like an emergency solution. All respondents finds Swish simple to use and have the idea that Swish feels safe when the banks in Sweden are behind the creation, and that BankID credentials are required. The link between high education and access to technology was discussed. Finally, it was discussed how respondents has come into contact with Swish. The result of the study does not find any difficulties with the utility of the elderly, but instead that the security is valued highly. The perceived security for Swish is big thanks to each of the bank in Sweden and the legitimation with BankID. However, respondents do no experience any advantages over other payment options and the use is not large. In order to make the application more attractive to older people, Swish should therefore focus on creating a need that other payment methods cannot meet.

Submitted by Fabio Sobreira Campos da Costa (fabio.sobreira@ufpe.br) on 2016-03-18T13:31:32Z No. of bitstreams: 2 license_rdf: 1232 bytes, checksum: 66e71c371cc565284e70f40736c94386 (MD5) JULIANA GONÇALVES DE ARAÚJO.pdf: 1787399 bytes, checksum: d65991a8871963306287690805764d38 (MD5) / Made available in DSpace on 2016-03-18T13:31:33Z (GMT). No. of bitstreams: 2 license_rdf: 1232 bytes, checksum: 66e71c371cc565284e70f40736c94386 (MD5) JULIANA GONÇALVES DE ARAÚJO.pdf: 1787399 bytes, checksum: d65991a8871963306287690805764d38 (MD5) Previous issue date: 2015-02-10 / O objetivo deste trabalho foi investigar qual o nível de utilização das informações gerenciais pelos gestores do Arranjo Produtivo Local de confecção do Estado de Pernambuco no momento de tomada de decisões. Os dados foram coletados através da aplicação de um questionário no ano de 2014, cuja elaboração foi realizada através da elaboração de uma matriz com estudos anteriormente realizados. O instrumento constou de 46 questionamentos segregados em três seções: variáveis de perfil, variáveis de gestão de custos e formação de preço e gestão de caixa. A coleta de dados se deu através de visitas aos eventos de moda e empreendedorismo, assim como visitas in loco. Para verificar se os gestores empregam as ferramentas estudadas (gestão de custos e formação de preço, e gestão de caixa), fez-se uso da estatística descritiva e inferencial, com a aplicação do Teste de Qui-Quadrado, adotando-se um nível de confiança de 95%. A amostra desse estudo resumiu-se a 52 empresas, caracterizadas, na maior parte, como Microempresa, e, em menor grau, como Pequena Empresa, de tais formas classificadas segundo o número de funcionários. Como resultado, percebeu-se que as empresas apresentam um nível de utilização das ferramentas insatisfatório e que é preciso atentar para a importância da continuidade da formação educacional dos indivíduos. Constatou-se, também, que as ferramentas são utilizadas de modo intuitivo, posto que a maioria dos respondentes não detém conhecimento conceitual mínimo acerca das práticas estabelecidas, como ponto de equilíbrio, métodos de custeio, margem de contribuição e orçamento de caixa. Quanto às associações encontradas, observou-se que o fato de a empresa ser mais antiga, possuir maior faturamento, segregar entre os gastos pessoais e empresariais, ter gestor com maior formação acadêmica ou atentar para relatórios na tomada de decisão influencia o nível de utilização das ferramentas. Por outro lado, aqueles que possuem recursos advindos de assistência familiar tendem a demonstrar menor utilização das ferramentas gerenciais. Esse estudo apresenta como limitação a quantidade obtida de questionários respondidos e a restrição quantitativa de análise. Como sugestão para pesquisas futuras, enfatiza-se a averiguação de fatores que influenciam na determinação do preço de venda, visto que esse estudo encontrou variáveis com associações estatisticamente significantes. / This study aimed to investigate the degree of adoption of management information by managers in the clothing cluster of the state of Pernambuco at the time of decision making. The data were collected through a survey applied in the year 2014. To verify if managers adopt the accounting tools studied (cost management and pricing, and cash management), descriptive and inferential statistics were used with the application of the Chi-Square test, accepting a 95% confidence level. The sample of this study comprised 52 firms, characterized mostly as Microenterprise, and to a lesser degree, as Medium-sized enterprises, taking into consideration the number of employees. As a result, it was observed that firms have a poor degree of use of the aforementioned tools and that the importance of the educational background of individuals should not be overlooked. It was also revealed that these tools are used intuitively, since the majority of respondents does not have minimum conceptual knowledge of conventional practices, such as break-even point, costing methods, contribution margin and cash budget. As for the associations found, it was observed that firms that are older, have higher sales, segregate between personal and business expenses, have well-educated managers or that considerate reports in decision-making are prone to use accounting tools. On the other hand, those with resources obtained from family support tend to demonstrate a lower use of accounting tools. This study is limited to the amount of surveys obtained and the quantitative restriction of the analysis. As a suggestion for future research, it is emphasized the investigation of the factors that influence the establishment of selling price, as this study found variables with statistically significant associations.

The aim of this thesis is to analyze the management of working capital in company Bayer s.r.o., primarily to find the weak points and to suggest measures for their improvement. First of all the company results will be evaluated based on financial analysis. Subsequently the managing process of particular working capital components will be assessed, i.e. inventories, receivables, cash and payables. The resulting findings will be interpreted and completed by proposal of measures and recommendations, which should ensure a higher efficiency of working capital management and therefore release funds, which can be used for further company development and increase its value.