PREPAYMENT OF RECEIVABLES – IMPLICATIONS WITHIN THE FINANCIAL CYCLE

Abstract

The financial imbalance between rights and obligations within organizations causes managers to take some measures, among them, to anticipate their receivables agenda. This case study aimed to measure the financial impacts and implications of this type of operation in a developer, based in Goiânia/GO, which sells multi-property properties and that among its sources of revenue is the brokerage service, whose payment occurs at the time of sale. Specifically, the research sought a better understanding of the factors that contribute to companies resorting to this type of "solution". For this, company-specific data were collected for the case study to identify the percentages of interest paid over a year and how these interfered with the company's cash flow. The research was developed through a quantitative analysis, through sales reports of the Business Intelligence system – B.I. and the report of the receivables schedule of the card operator where a significant part of the payments of the brokerage service are transacted and which has become the central point of this approach. The results presented demonstrate that, in order to remain in the market, measures of anticipation of receivables were necessary and that the costs involved in this operation represent significant value accumulated over a year, implying the supplementation of working capital, which motivated a general review of the financial planning to remain in compliance with the day-to-day obligations.