Abstract: The relation between working capital management and corporate profitablity is investigated for a sample of 1,009 large Belgian non-financial firms for the 1992-1996 period. Trade credit policy and inventory policy are measured by number of days accounts receivable, accounts payable and inventories, and the cash conversion cycle is used as a comprehensice measure of working capital management. The results suggest that managers can increase corporate profitablity by reducing the number of days accounts receivable and inventories. Less profitable firms wait longer to pay their bills.

Abstract: A system for facilitating payment of accounts payables from a foreign financial institution for a customer of a domestic financial institution, software, and methods are provided. The system includes a first financial institution computer positioned at a domestic financial institution site to define a domestic financial institution server, having memory associated therewith, and foreign exchange analyzing software stored in the memory of the domestic financial institution server to analyze a foreign exchange transaction. The system also includes an area network in communication with the server, and a second customer computer in communication with the area network, positioned remote from the server at a customer site, and positioned to transmit an accounts payable batch data file having a plurality of accounts payable to the foreign exchange analyzing software stored on the server.

Abstract: A method for managing accounts payable for a business using a server system is provided. The server system is coupled to a centralized database and at least one client system. The method includes receiving at the server system accounts payable (AP) information for the business from the client system wherein AP information includes at least one of invoices and purchase orders relating to the business, storing the AP information received at the server system in the centralized database, authorizing a user to access the AP information based on a profile of the user, updating the centralized database periodically with newly received AP information to maintain the AP information, processing the AP information stored in the centralized database, and utilizing a payment accelerator module to facilitate expedited payment of invoices satisfying a payment accelerator criteria.

Abstract: This paper uncovers an increasing proportion of quoted UK companies omitting cash dividends. Using a large panel of quoted UK firms, we estimate panel data probit models for the incidence of dividend omissions and cuts as functions of financial characteristics including cash flow, leverage, investment opportunities, investment and company size. These variables account for most of the increase in omission since 1995. There is relatively little evidence to link this to the major tax reform of 1997 that abolished tax refunds on dividend income payable to tax‐exempt institutions. Significant persistence effects indicate companies are slow to adjust their balance sheets through their dividend.

Abstract: Computerized method and system for an entire enterprise's intelligent management of accounts payable electronic processing are provided. All functions (e.g., Servicers, direct ship parts, e-time, e-logistics, and e-invoicing, etc.) across the enterprise are integrated into comprehensive, robust electronic automation of all domestic and international business transaction types (i.e., all internal and external suppliers) yielding a total payables solution. A database provides storage of accounts payable data for each of a plurality of purchase transactions. Rule-based logic and expert system validation checks are performed to ensure compliance and accuracy. A plurality of Web pages including hyperlinks is configured to link over a communications network to an enterprise managed Web site enabling authorized account access to the system. The system offers suppliers on-line, interactive self-help and remittance advice. The system also provides various types of electronic data formats to support supplier automation. An enterprise may “open” a Purchase Order (PO) in support of a business transaction and notifies the assigned supplier of this action. The supplier accesses online their account to obtain PO information. The supplier provides the goods/services accordingly. Electronic receipt of goods is acknowledged and/or an electronic invoice (e-invoice) is generated, (e.g., e-invoicing enables automated cost verification). Settlement may be validated by the rule-based expert system checks and accomplished via electronic means. Upon settlement, the PO is closed and the transaction completed.

Abstract: A system and method are described for settling transactions (100) between supply-chain participants (110) which greatly simplifies the accounts payable (120), credit, and collections processes for participants (110), and provides them with unique capabilities to modify terms-of trade and the resultant cash flows in a mutually beneficial fashion by managing the gap between marginal borrowing rates.

Abstract: The cash‐to‐cash (C2C) metric has evolved as one of the first measurements bridging across the firm. Therefore, it is important for managers to understand how the C2C metric is calculated, as well as how a company should compare in its C2C performance. In this paper, we define C2C and how to calculate it. Then, we provide an analysis and summary of C2C in 2001 for 5,884 companies using median performance by industry. A typology is introduced to classify industry performance using a 2 x 2 x 2 matrix based on the three variables of the C2C metric: accounts payable, inventory, and accounts receivable. We also consider how performance has changed since 1986, identify the key drivers to this change, and describe which industries have experienced the greatest change in C2C performance. Finally, managerial implications and future research questions are offered.

Abstract: The invention proposes an improvement for a method for collecting a debt. The method includes entering in a data processing system data at least including data concerning the debtor and the debt, permitting debt access to at least two parties to at least a part of the data entered in the system, and initiating an action for collecting the debt on a basis of the data entered in the database. The improvement comprises entering accounting data regarding accounts payable to the creditor and payments to the creditor into the system, enabling a financing party providing a loan to the creditor on the payable accounts to inspect at least a part of the accounting data for determining an amount of the loan based on at least the part of the accounting data.

Abstract: A method and system for a loan-making entity to provide a benefit to employees of others by way of payday advance loans on demand to qualified borrowers. Agreements are entered into between the entity and the employee and between the entity and the employer. When an employee needs a payday advance loan, he or she telephones or goes on-line to the entity and asks for a desired amount. Employment status but no other credit information is checked, and the funds are immediately available to the employee, in cash, by check, by debit card funding, or the like. The entity advises the employer electronically of all outstanding loans on or before the next payday, and loans with fee amounts are deducted from employees' paychecks and the loans and fees are paid to the entity. Any shortfalls in monies payable roll over to the next pay period, with added fees as appropriate. The entity may collect only against the employee, not the employer, under the agreements, if there is a default.

Abstract: Systems and methods adapted to facilitate automated processing of paper documents, particularly accounts payable documents, and to facilitate automated payment of processed documents, particularly billing invoices reconciled against processed purchase orders and shipping invoices.

Abstract: The present invention provides a method and system of managing accounts payable auditing data, where the auditing data includes at least one line item and is ordered by a propensity to yield claims. The method and system, in an exemplary embodiment, includes (1) displaying at least one aged line item, (2) identifying credit data among the at least one displayed aged line item, and (3) recording the identified credit data. In an exemplary embodiment, the aged line item is a line item that has aged for N months, where N is positive integer. In an exemplary embodiment, N is 4.

Abstract: A method for calculating estimated results and accruals for a business entity in accordance with predetermined accounting principles is provided. The method uses at least one accounting engine in communication with a database. The method includes storing business information in the database including at least one of accounts receivable data, accounts payable data, operating metrics, cash flow data, financial statements, capital structure, income statements, collateral data, guarantors, claims, accruals, losses, and other information relating to the financial condition of the business. The method further includes transmitting business information from the database to the at least one accounting engine, calculating at the accounting engine estimated results and accruals for the business in accordance with the predetermined accounting principles, generating entries for recording in a general ledger of the business based on the calculated estimated results and accruals, and recording the entries in the general ledger of the business.

Abstract: Many studies examine why firms are financed by their suppliers, but few empirical studies look at the macroeconomic implications of such financial arrangements. Using disaggregated panel data, we examine how firms extend and use trade credit. We find that, controlling for the transactions or asset management motive, both accounts payable and receivable increase with tighter policy, implying that trade credit helps firms absorb the effect of a credit contraction. A comparison of S&P 500 firms with smaller firms, however, provides no evidence that when policy is tightened, large firms play the role of credit suppliers more actively than small firms.

Abstract: We introduce bids in a rent-seeking contest. Players compete for a prize. Apart from exerting lobbying efforts, they also submit a bid which is payable only if they win the prize. We show that our model has a unique Nash equilibrium in pure strategies, in which each active player submits the same bid, while the sum of all efforts equals that bid. In equilibrium there is underdissipation of rent.

Abstract: I analyse the response of inventories and short-term debts to monetary policy using disaggregated data on Japanese manufacturing firms classified by firm size. I find that monetary contraction decreases the inventories of large firms; however, inventories of small and medium firms increase considerably for the first several quarters. This implies that in a subcontracting system small and medium subcontractors serve as a buffer and alleviate the monetary shocks felt by their large parent firms. Moreover, inventory build-ups are financed by increases in accounts payable. I also find that for small firms land asset is important in easing credit conditions and increasing inventories.

Abstract: An Internet accounting system, where transactions are entered on the spot and business data created by transactions are distributed to appropriate staff of the company, becomes more important for companies operating worldwide. The Internet accounting system described in this paper consists of a three-tier structure: Web, application and database servers. The accounting system provides complete accounting functions including general ledger, accounts payable, accounts receivable, purchase order, sales order, inventory management, fixed assets, temporary payment, multi-users, multi-currencies, multi-companies, and multi-languages allowing customer relation management, partner relation management, supply chain management and performance analysis. A prototype system has been completed and a full-scale system is now under development.

Abstract: Strategies for financing education vary according to the ideological orientation of the political process leading the country. There are those who argue that public funding of higher education, is regressive (Psachoropoulos, 1994). Others argue that although individual students benefit from higher education, the society also benefits and increased income leads to increased tax payable by individuals.

Abstract: A method and apparatus for a card-type game in which a player is required to make a second wager for eligibility to win a jackpot payable pursuant to a second pay table, in addition to the first wager that the player must make for eligibility to win a first jackpot. The jackpot payable pursuant to a second pay table is structured so that it grows from game to game until won. In one embodiment, a player is permitted to request a partial refund of the second wager, after receiving at least one additional card. Such a refund request will either disqualify the player from eligibility for the jackpot payable pursuant to a second pay table, or at least reduce the amount of that jackpot payable to that player. In one embodiment, a player is permitted to increase the amount of the second wager, after receiving at least one additional card. Such an increase will increase the amount of the jackpot payable pursuant to a second pay table payable to the player if a predetermined qualifying hand is achieved.

Abstract: Abstract It is a widespread practice for contracting parties to include in their contract terms specifying remedies in the event of breach. These clauses can take a variety of forms: a clause may specify a sum payable on an event or on breach, or give the innocent party the right to terminate the contract or to retain a sum of money already paid.

Abstract: In the United Kingdom (UK), the assessment of compensation payable following the compulsory acquisition of land is laid down in statute. This paper discusses how the UK legal provisions for compensation payable on compulsory acquisition for land taken sacrifice the rights of the individual claimant to the greater good of the wider public by ensuring that an acquiring authority does not pay compensation for any value which it creates through the scheme underlying the acquisition or the development of land. The valuer is, therefore, required to imagine and then value the property in a “no scheme world”, which ignores both the reality of the acquisition and any benefits recognised by the open market of the development associated with it.

Abstract: PROBLEM TO BE SOLVED: To provide a fund managing method and a fund managing program by which payment to group companies can be efficiently implemented. SOLUTION: When payment data including data on payment destination account information, payment source account information, amount payable, etc., are received from a group company terminal 10, a management computer 21 records the data in a CMS (Cash Management Services) data storage part 24 as a loan to a group company. Then, the computer 21 collates payment destination account information with group company account information recorded in a company identifying data storing part 23. When the payment destination is a deposit account of a group company, the data is recorded in the storage part 24 as a deposit received from the group company of the payment destination. When the payment destination is a deposit account other than those of the group companies, the computer 21 instructs a banking system 30 to transfer the amount payable. The computer 21 calculates a transfer outstanding amount of fund based on the deposit and the loan. COPYRIGHT: (C)2003,JPO

Abstract: The invention relates to a method for paying a user fee proposed by a service provider by means of the terminal of a service user. The inventive method consists in calculating a payable amount with the aid of a billing device and in paying the payable amount by the bank account of the service user, thereby allowing said user to use a service. When requesting a service, the user can appoint the execution time for the service, the paying of the payable amount being carried out according to the execution time.

Abstract: PROBLEM TO BE SOLVED: To provide a mechanism for allowing a company having accounts payable to a certain correspondent to execute substantial factoring action for a company having accounts receivable to the same correspondent and to effectively reduce the risk of creditor's accounts receivable. SOLUTION: An electronic commercial transaction administrator 11 receives a sell application 17 reserving the assignment of accounts receivable of a correspondence from a debtor Bi having accounts payable in a company X and sets up accounts payable to be invested to the debtor Bi in a range of supposed accounts payable owned and/or to be owned by the debtor Bi. The administrator 11 receives a sell application 18 reserving the assignment of a part or all of supposed accounts receivable owned and/or to be owned by a creditor Aj having accounts receivable in the company X from the creditor Aj and sets up accounts receivable to be invested to the creditor Aj. The administrator 11 executes a transaction contract reserving assignment between the debtor Bi and the creditor Aj.

Abstract: A system for notes payable management includes client computers ( 10 ), an application server ( 12 ), and a database ( 14 ). The application server includes a basic information maintaining module ( 21 ), a notes payable opening module ( 22 ), a notes payable printing module ( 23 ), an auditing module ( 24 ), an amending module ( 25 ), a transferring module ( 26 ), a cashing module ( 27 ), and a statement generating module ( 28 ). The notes payable opening module is for opening new notes payable. The notes payable printing module is for printing notes payable. The auditing module is for determining whether the printed notes payable can be approved for issue. The amending module is for determining whether the approved notes payable need to be amended and amends such notes payable. The transferring module is for transferring notes payable. And the cashing module is for cashing notes payable. The client computers are connected to the application server through an electronic network ( 11 ).

Abstract: PROBLEM TO BE SOLVED: To provide a fund intensive management system to facilitate fund management of the respective group companies. SOLUTION: Funds of the group companies 7 are concentrated on a fund intensive bank account 96 of a bank system 94 by every kind of currency. Balance of the funds of the respective group companies 7 are managed by a deposit money table 97 of a fund management system 91. In the case of commercial transaction between the group companies, the fund intensive management system 91 updates the balance of the deposit money table 97 based on information about accounts payable data base 98. In this case, the funds in the fund intensive bank account 96 are not transferred. And settlement conditions (usance, settlement dates) among the group companies are unified. In addition, minus balance of the deposit money table and a loan to be performed to the group companies by the fund management system 91 are enabled for the cash-strapped group companies and fund procurement of the group companies 7 is facilitated by unifying the settlement conditions.

Abstract: PROBLEM TO BE SOLVED: To reduce the number of settlements as much as possible in finance business even when a transaction between a certain enterprise and the other one and a transaction between the enterprise concerned and a 3rd enterprise are individually executed. SOLUTION: In the finance business method and system, accounts payable based on the purchase of a commodities or the like from a manufacturer or a wholesaler by a distribution proprietor such as an EC proprietor and accounts receivable based on the selling of commodities to a personal consumer or a juristic consumer by the distribution proprietor are allowed and netted.

Abstract: A system and method for conducting accounting operations related to account payable according to procurement data and payment data obtained from external systems. The system includes a database server ( 3 ) for storing account payable data; an application server ( 2 ) electrically connected with the database server for accessing and processing data stored in the database server; and a plurality of client computers ( 1 ) electrically connected to the application server for downloading data from and uploading data to the database server. The application server can visit a procurement management system ( 5 ), an inventory management system ( 6 ) and a bank note management system ( 7 ) and access data therefrom via a communications network ( 4 ). Thus, the present invention can directly conduct accounting operations related to account payable according to obtained procurement data and payment data.

Abstract: Abstract The various taxes the liability for payment of which flows from the ownership of land fall into three groups. These are taxes payable (i) on the acquisition of land, (ii) during the ownership of land, and (iii) on the disposal of land. The rules relating to the payment of income tax or corporation tax are outside the scope of this book and no detailed reference is therefore made to either tax. It is assumed that, where the owner of land is not a private individual, it will be a societe civile and since shareholders of such companies do not have limited liability and in some cases are directly assessed to tax, payment of tax will virtually always fall on the individual irrespective of whether he is the direct owner or the owner via the medium of a company.

Abstract: Abstract French inheritance tax (droits de succession) is payable on the death of every person domicilié fiscalement or resident for income tax purposes in France on all his assets wherever situate in the world. In the case of a person who died not resident for tax purposes in France, droits de succession are payable in the case of a beneficiary who is not resident in France only in respect of assets situate in France. If the beneficiary was resident in France at the date of the death of the deceased and had been so resident for at least six out of the preceding ten years, the tax is payable in respect of all assets inherited by that beneficiary whether they are situate in or out of France.