FINANCING WORKING CAPITAL IN A DEPRESSED ECONOMY:
FINANCING WORKING CAPITAL IN A DEPRESSED ECONOMY:
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Date
1999-09
Authors
DONATUS, OLUKA
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Abstract
ABSTRACT
There is no one generally or universally accepted definition of "Working
Capital." Working capital may mean, "those funds used in acquiring current
assets, "but for the purpose of this study, working capital is defined as the excess
of current assets over current liabilities. Current assets include: Stock, Cash.
Marketable securities, Accounts Receivables while current liabilities include:
Notes Payable, Bank Overdraft, Accruals, Trade Creditors, short-term Loans.
West African Milk Company Nigeria Pic, like any other manufacturer
operates in a depressed Nigerian economy characterised by high inflation,
massive unemployment, depreciating Naira value, low capacity utilisation, high
interest rate, etc.
The technique adopted in this project was examination of company's
records and accounts coupled with direct observation of its day-today activities.
For any company to meet its short term obligations, there must be enough
working capital. This is therefore the bedrock for the company's effective and
efficient performance.
Description
DEPARTMENT OF BUSINESS ADMINISTRATION
INSTITUTE OF ADMINISTRATION, ZARIA.
Keywords
FINANCING,, WORKING,, CAPITAL,, DEPRESSED,, ECONOMY,, CASE,, STUDY, WEST,, AFRICAN MILK,, COMPANY NIGERIA.