F9考官亲自陈述ACCA考试报告--Question Two （a）

　    Question Two （a）

　　The requirement here was to calculate the net benefit or cost of proposed changes in receivables policy, commenting on findings. The cost of an early settlement discount had to be calculated, as well as the decrease in financing cost arising from a reduction in the trade receivables balance. Candidates were expected to recognise that although current trade terms allowed credit customers to pay after 30 days, they were in fact paying on average after 60 days, as shown by a comparison between credit sales and the level of trade receivables. The average trade receivables period after introducing the proposed changes in receivables policy was 40.5 days, leading to a lower level of trade receivables and a lower financing cost. Weaker answers showed a lack of understanding of how the receivables days’ ratio links credit sales for a period with the trade receivables balance at the end of the period. Some answers, for example, tried to calculate the revised trade receivables balance by applying changed receivables days ratios to current receivables, instead of applying them to credit sales.