accounts payable thesis

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Master's Theses

Improving payment approvals and release of accounts payables in aster dm healthcare, inc..

Julie Ann T. Pacapac

Date of Publication

Document type.

Master's Thesis

Degree Name

Master of Business Administration

Ramon V. Del Rosario College of Business

Department/Unit

Decision Sciences and Innovation

Thesis Adviser

Rachel A. Quero

Defense Panel Chair

Maria Victoria P. Tibon

Defense Panel Member

Reynaldo A. Bautista, Jr. Frances Julienne Sarmiento Brian C. Gozun

Abstract/Summary

Accounts payable plays a vital role inside an organization, as this is the last point of control before payment is sent to a supplier or vendor. This action research study addressed the issue of delayed payments to our suppliers due to the long processing time and release of our cheques. In our company, Aster DM Healthcare Inc. (Aster Philippines), the processing of cheque payments takes long because cheques are sent to Dubai for signing by our top executives. Our delayed cheque payments created problems with our suppliers and employees. In response to this, the first cycle of this action research established a cheque payment system that require only Philippines-based signatories as sufficient for faster processing time. The second cycle of this action research established an online payment release process to our suppliers by utilizing a banks expresslink system. For the conceptual framework, I applied the Committee of Sponsoring Organizations (COSO) of the Treadway Commission 2013 Internal Control- Integrated Framework, which guided the approach and interventions in this action research. The results improved our relations with our suppliers and enabled cost saving opportunities for our company.

Abstract Format

Accession number, shelf location.

Archives, The Learning Commons, 12F Henry Sy Sr. Hall

Physical Description

1 disc ; 4 3/4 inches

Aster DM Healthcare Inc (Aster Philippines); Organizational effectiveness; Organizational change

Recommended Citation

Pacapac, J. T. (2017). Improving payment approvals and release of accounts payables in Aster DM Healthcare, Inc.. Retrieved from https://animorepository.dlsu.edu.ph/etd_masteral/5559

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Effects of Accounts Payable on the Profitability of Agricultural Firms in Kenya: A Case of James Finlay's

Accounts payable is regarded as source of free credit, since either goods have been supplied or services rendered but payment will be made on later date. Where organizations have financial constrains to procure raw material or pay business services, can utilize accounts payable as source of external sources of finance to improve production line. The objective of the study was to established the effect of accounts payable on the profitability of agricultural firms in Kenya; A case study of James Finlay’s in Kericho County. Descriptive research design was employed to describe the effect accounts payable has on profitability of firms. Target population comprised of respondents from James Finlay’s located in Kericho County. The study used primary data collected through questionnaires. Data was analyzed by descriptive statistics. Correlation and regression analysis was adopted to establish the relationship between accounts payable and profitability. ANOVA F statistics used to establish goodness of fit using level of significance in the regression model. The study revealed that accounts payable has negative effect on the profitability of agricultural firms. The study recommended the company to retain high level of account payable since is one of the cheapest source of finance hence should be maximized to improve profitability and also to reduce the cost of finance.

Related Papers

International Journal of Academics & Research, IJARKE Journals

Small and Medium scale Enterprises (SMEs) are gaining wide spread acceptance as a viable driver of economic growth. However, from past statistics three out of five SMEs fails due to limited accounting practices in their enterprises thus there is need for proper bookkeeping skills and sound knowledge on financial reporting. A sound accounting system in any business irrespective of its scale is crucial. Financial performance of any organization is critical unless the organization is nonprofit making. Specifically, the paper sought to establish the effect of book keeping system adopted on the financial performance of SMEs. The study was supported by accounting theory, resource based theory and decision usefulness theory. Descriptive research design and correlation research design was used to study SMEs in Kericho town. This study targeted a population of 2161 Small and Medium Scales Enterprises in Kericho where a sample of 338 was selected using purposive sampling. Descriptive statistics as well as inferential statistics were used, where regression model was adopted. The findings have been presented in form of tables and charts. The findings revealed that bookkeeping process had a coefficient of 0.785. This shows an increase in these variables will result in significant effects in the financial performance of the SMEs. The effect of the variables combined had a strong relationship with SMEs’ performance as shown by R2 = 0.77 (p<0.05) this implies that the model obtained accounts for up to 77.7% of the changes in financial performance of SMEs. The study recommends that the proprietors of SMEs highly prioritize accounting process during the formulation of the organization’s strategies. This will enhance transparency, accountability and consistency in their financial operations. The study also recommends that regulatory bodies formulate appropriate policies and regulations which will facilitate the implementation of accounting processes in Small and Medium Enterprises.

In Mogadishu, mineral water manufacturing is considered to be one of the most important businesses. The purpose of this research was to determine the effects of working capital management on profitability of manufacturing firms in Mogadishu. The study developed four specific objectives, that is, to determine whether the inventory management has an effect on working capital management of mineral water manufacturing firms in Mogadishu-Somali, investigate the effect of cash management on working capital management of mineral water manufacturing firms, to establish whether account receivables management has an effect on working capital management of mineral water manufacturing firms in Mogadishu-Somali. The study employed a Descriptive research design. Questionnaires were used to collect primary data. The results reveal that Inventory Management, Cash Management, Account Receivables Management and Account Payable Management have significant and positive effects on profitability of manufacturing companies in Mogadishu. The study recommended that top managers of manufacturing companies in Mogadishu should exploit its Account Receivables Management and Cash Management that generate competitive advantage to enhance of the organization.

The best working capital management policy is to strike the balance in the investment of assets. Excessive investment in any component of working capital will tie capital hence impairment return of firms on the other hand inadequate working capital will render the company insolvency which will hinder smooth running of companies. The objective of the study is to carry out analysis on studies on working capital management practices and compare the results from different industries from east Africa countries. Major components of working capital studied were accounts receivable, accounts payable, cash conversion cycle, debt ratio, average collection period, average inventory period, and average payable period. Studies adopted ROA, ROE and GOP as Measure of financial performance. To find out the association between working capital management and financial performance Pearson correlation analysis and multiple regressions was adopted. Result from the study found mixed findings some studies found positive correlation with working capital management while other revealed negative. Study concluded working capital management had significant impact on financial performance of firms under study. Study recommended firms to reduce the accounts receivable period while extending accounts payable period. Further recommended was given for firms to keep inventory at reasonable level and shorten the cash conversion period to gain meaningful profitability.

IJARKE Business & Management Journal

MULI Stephen Nthenge

Capital Structure has in itself closely interrelated variables used for decision making that render it to be one of the difficult areas of decision making in finance. Firms that desire to run effectively and efficiently must make important capital structure decisions. These decisions have an influence on the firms’ capability to productively operate within the confines of a completely competitive environment and form a vital factor in measuring the firm’s return maximization. The main purpose of this research was to examine and explore the effects of capital structure on the access to financing options for tour firms in Mombasa County. Four theories namely; the M&M capital structure relevance theory, trade-off theory of capital structure, pecking order theory, and signaling theory grounded the study. Generally, the objective of the research sought to establish whether or not there is an effect of capital structure on access to financing options for tour firms. The research also specifically sought to establish the effect of the short-term debt, long term debt, share capital, and reserve capital on the access to financing options for tour firms. Tourism has globally, regionally and locally gained interest and has reported continued growth and diversification and is becoming one of the fast-growing sectors of the economy world over. The target population of interest to the research was tour firms functioning in Mombasa County and a census of all registered tour firms in Mombasa County operating under the umbrella of KATO (Kenya Association of Tour Operators) was used as the sample for the study. An explanatory non-experimental research design was adopted in the study where secondary data was obtained from financial reports of sampled tour firms and primary data was gathered using questionnaires. Data gathered during the research was tabulated and analyzed using both descriptive and inferential statistics while being aided by the Statistical Program for Social Science (SPSS) to test the hypothesis. Descriptive statistics involved using weighted averages and percentages while inferential statistics involved the use of ANOVA and regression analysis. The study, therefore, concludes that short-term debt and share capital has a significant effect on access to financing options of tour firms in Mombasa County. The study also concluded that long-term debt and reserve capital have no significant effect on access to financing options of tour firms in Mombasa County. The study recommends the following: That tour firms should negotiate for long-term debts with financiers as this helps the firm to plan for its liquidity; That tour firms should keep a margin of its profitability in reserves for future financing since it is a cheaper way of financing; That tour firms should consider listing on the securities exchange and that tour firms should consider mergers amongst tours and travel sector to build on synergy and create competitive advantage.

Effective financial management of firms is fundamental to the firm’s health and strength. Thus, financial management is the practice by which inherent risk in cash management, receivable management, investment and inventory management practices are controlled and managed. The purpose of the study was to examine the effects of financial management practices on profitability of tea firms in Kericho County, Kenya. The specific objective was to establish the effects of cash management on profitability of tea firms in Kericho County. The study adopted descriptive research design. The target population was 48 employees comprised of 12 tea firms. Census method was used to select 48 employees as the sample of the study. Questionnaire was used to collect primary data. Secondary data was collected through financial records for the last five years of operations. The collected data was edited, coded and analyzed by use of descriptive statistics such mean and standard deviations. The study found that the majority of employees working in tea factories were well educated with at least form four qualifications. Liquidity is essential for cash management of the company. Increasing cash collection increases cash levels in the firm. Debtor collection period should be measured by reporting periodical returns. Further, using internal rate of return tea firms should embrace in proper financing.

Kenya has in the recent past experienced great fluctuations in financial performance surrounding its manufacturing industry. The study aimed at determining the extent to which foreign exchange determinants affect the financial performance of manufacturing firms listed in the NSE in Kenya. The target population of 232 respondents was derived from 9 manufacturing firms quoted at the NSE. Samples for the study were drawn using stratified random sampling technique. A sample size of 146 respondents was derived using the Yamane’s formula. Self-administered questionnaires were used as a tool for primary data collection. Descriptive statistics and correlation analysis were used to analyze the data using Microsoft Excel Spreadsheet and the SPSS software. The results of the analysis have been presented by use of tables. A total of 110 complete responses were used for the analysis. The Pearson’s correlation coefficient and multiple regression analysis were used for hypotheses testing. The study revealed that there is significant effect of foreign exchange determinants on the financial performance of manufacturing firms quoted at the NSE. The study recommended manufacturing firms to expose their managerial staff to trainings to enhance their capabilities and to respond to changes in the macro-economic environment. The study also recommended that the Government should implement foreign exchange policy that will control and stabilize the foreign exchange fluctuations. By use of lobbying groups, the firms should also interact with the Central Bank of Kenya to put in place measures to monitor the interest rate spread in the economy.

This study sought to establish the effect of credit management on financial performance of firms transport firms in Mombasa County. The study‟s objective was to determine the effects of credit management on financial performance of transport firms in Mombasa County. The study targeted 220 staff of transport firms in Mombasa County and the sample size was 140. Data collection was both primary and secondary. Both descriptive and inferential statistics were analyzed for the variables under the study. The study concluded that credit risk control, credit policy, account receivables and credit term have significant effects on financial performance of transport firms in Mombasa County. The study recommended that That transport firms should put in place a robust credit risk control mechanism to safeguard the interest of the company first; That transport firms should be reviewing from time to time its credit policy to be in line with international acceptable standards; That accounts receivables should be well managed, and its audit reports and suggestions implemented; That credit terms should be varied from client to client to increase sales volumes.

Many merged companies face various operational challenges experienced at the early years of operations, these include: Information Technology, Human Resource, Communication and financial issues. The Financial issues rely on the maximization of the shareholders’ wealth. Most merging companies face various financial challenges. The purpose of this study was to assess merger and its influence on financial performance among commercial banks in Eldoret Town. It was guided by the following objectives: to establish the effect of horizontal mergers on financial performance of commercial banks in Eldoret Town, The study adopted survey research design and it was guided by the theory of efficiency, empire building theory and agency theory. The target population for the study was all 102 employees working in 4 merged commercial banks in Eldoret town. The banks to be considered in this study were those that merged during the period of 2005 to 2017. The study adopted a census technique. Questionnaires were used to collect data. To determine the reliability of research instruments a pilot study was conducted before the actual data collection and further split half method was carried out to calculate Cronbach alpha. A value of above 0.7 confirmed the reliability of the research instruments. The data was analyzed using both inferential (multiple regression and correlation) and descriptive statistics (frequencies, percentages, mean and standard deviation) and was presented by use of tables and charts. The study findings indicated that all the study variables were significant to financial performance (Horizontal mergers β=0.160, p value=0.032,). The findings further indicated that the effect of the predictor variable Horizontal Merger explains 83.6% of the variations in financial performance of commercial banks in Eldoret town. Therefore it was concluded that merger is a predictor for financial performance of commercial banks. The study recommends that firms facing constraints on the market should consolidate their energies by resorting to merger/acquisition so as to expand their profitability as well regulators should further deploy non-market-based assessment tools that will help in assessing past performance of both companies intending to merge as a way of establishing possible reasonable for markets skepticism before and after the merger periods.

For any organization to persist in significance in the face of the stormy business environment, it has to bring up effective strategies that are possible for the organization to remain significant and competitive. Notably, there appears to be a problem in the identification of strategic factors that can help the dwindling performance of logistic firms. The purpose of this study therefore is to analyze the strategic factors influencing performance of logistic firms in Kenya. It thus specifically seeks to determine the effects of strategic alliances, outsourcing, staff training and development and technological innovations on performance of logistic firms in Kenya. Resource-based view, dynamic capabilities theory and theory of planned behavior anchored the study. The study adopted a descriptive survey research design. 30 logistic firms in Mombasa were targeted. Census method was used to get the 90 managers of the selected firms. Questionnaires were the data collection instrument. To establish reliability of research instruments the Cronbach‟s coefficient alpha model will be used. Quantitative data was analyzed using descriptive analysis in form of percentages, frequencies and means. Both correlation and regression analysis was used to test for relationship between the independent variables and the dependent variables. The study concluded that all the four objectives had a significant effect on the dependent variable performance of logistic firms in Mombasa County. The study results revealed that logistic firms form strategic alliances with local companies as well as foreign based logistic firms to build synergy. Outsourcing has increased profitability while at the same time increasing the market share of logistic firms in Mombasa County. Adequate training and development also help reduce errors in the systems processing unit thereby minimizing customer complaints which helps logistic firms acquire large market share. On technological innovation the study findings established that initial costs of computerizing the logistic firms‟ operations was not recovered in 2 years‟ time. The study recommended that logistic firms should continuously seek to enter into strategic alliance with competitors both locally and abroad. This will reduce bureaucracy and red tape for entry into new markets; that logistic firms should outsource noncore activities and functions and concentrate on core activities, this will reduce wastage of finances on non-core activities and used to improve the processes of the core functions; that logistic firms should offer training and development to its staff on a continuous basis to help reduce errors in the logistic processes and that logistic firms should computerize fully their operations in order to have a lean staff to reduce operational costs.

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