逢同學(xué)
2021-03-29 23:47Hi Vito Why do Inventory turnover, AR turnover AP turnover give 'NUMBER OF TIMES'? E.g, if the revenue is 3000 USD, and the A/R is 2000 USD, and the A/R turnover is 1.5, how does it yield to 'The A/R was processed 1.5 times? Also, how do comprehend dividing 365 by those turnovers give 'NUMBER OF DAYS'? Considering the above theory is correct i.e. the A/R turnover does represent the times that the A/R has been processed, then dividing 365 by the A/R turnover (say 2) literally means 'Each turnover happened for 183 days, did I miss the 'average'?
所屬：CFA Level I > Financial Reporting and Analysis 視頻位置 相關(guān)試題
來(lái)源： 視頻位置 相關(guān)試題
1個(gè)回答
李澤瑞助教
2021-03-30 17:07
該回答已被題主采納
同學(xué)你好，
因?yàn)橹苻D(zhuǎn)率是衡量的是在一年的時(shí)間內(nèi)它發(fā)生的次數(shù)，比如存貨周轉(zhuǎn)率，就代表存貨從產(chǎn)生到賣出一年之中發(fā)生幾次。
再比如你的例子中，應(yīng)收賬款周轉(zhuǎn)率（receivables turnover）也稱為應(yīng)收賬款周轉(zhuǎn)次數(shù)，指年度內(nèi)應(yīng)收賬款轉(zhuǎn)為現(xiàn)金的平均次數(shù)，它說(shuō)明應(yīng)收賬款的變現(xiàn)速度。（3000/2000=1.5 times）意味著把貨物賣出后到收到貨款在一年內(nèi)發(fā)生了1.5次。
應(yīng)收賬款周轉(zhuǎn)天數(shù)（days of sales outstanding, DSO）又稱收賬期（collection period），就需要用365/ receivable turnover 。因?yàn)閠urnover ratio衡量的是在一年內(nèi)的周轉(zhuǎn)次數(shù)，一年365天，365除以 turnover ratio就可以算出每周轉(zhuǎn)一次需要的平均天數(shù)。像是你例子中的周轉(zhuǎn)天數(shù)=365/1.5=243天，指企業(yè)從發(fā)生應(yīng)收帳款到收到現(xiàn)金平均需要243天。
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