Accounts Receivable Financing【外文翻译】.doc

1、1本科毕业论文外文翻译外文文献译文应收账款融资资料来源INTERNATIONALJOURNALOFBUSINESSANDMANAGEMENT作者RAYMONDJSAULNIERANDNEILHJACOBY应收帐款融资的概述应收账款融资主要是将应收账款余额抵押给银行取得贷款。根据贷款人使用,贷款将等于包括各地30至120天内的平均应收账款。同样根据贷款人使用,贷款也可以等于整个平衡或收藏平衡。由于银行享有应收账款余额的主要留置权，则需保护其他债权人的债权的余额。首先，一旦取得银行贷款,贷款的收益主要来源与所投资的企业与死亡公司所有者利益保护的宗旨和潜在的补充退休收入。客户应该咨询他们自己的法律顾

2、问,在某种程度上,有应收帐款和死亡人现金价值人寿保险的情况下应该尽可能保护债权人利益。其次,个别拥有人寿保险政策的商务所有者将可能会被提供各种形式与所得税有关的优势。第一个好处是,任何增长的现金价值将归入政策限定的税款滞纳。第二个好处是,如果适当的设计一种非改性养老政策,公司所有者可以从中申请免税收入。免税收入是在实现回归成本的基础上，然后使用政策性贷款。政策性贷款将降低保单的现金价值和死亡保险金。取款将降低保单的现金价值，并可能减少死亡给付。这是假设的政策，符合寿险和不失效原则。如果政策失误或无效，国税局将收到的税分布到生活的政策将会终止，并不支付超过的保费。如果需要再次取得贷款，就必须将指

3、定的寿险保单二次抵押给银行。尽管在大多数情况下，银行会主要看违约事件中应收账款的余额，寿险保单现金价值在事件中应收账款余额不足以偿还贷款的情况下提供抵押物的液体源。贷款在只要企业的所有者或专业仍然是工作（即，直到退休）的状态下通常是成功的。就是，假设企业的所有者或专业仍然有一个良好的信用风险，银2行有可能延长贷款的时间。然而，一旦企业出现危机，通常也会提供贷款，但是必须在指定的时间内偿还贷款。通常情况下，贷款协议最长为180天，以提供足够的时间对收集应收账款的欠款。需记住的是应收款一旦收集将收入税款，因此它可能用被“网”税后的应收款项去偿还银行贷款。对于是有赤字的情况下，寿险保单价值或其他外部

4、资金也可以使用。企业主所面临的问题1应收账款的余额是不良资产如今，一个企业提供其产品或一个专业在执行他或她的服务时很多客户不马上解决他们的帐单。这是在服务企业、医疗及牙科服务行业中很普遍的情况。通常情况下，许多客户是使用信用卡或用保险支付，由于服务已执行但尚未缴款，这就造成应收账款。通常情况下，一个企业的最大的应收账款余额是单一业务的资产。应收账款余额的一个显著的问题是企业的所有者用欠的钱赚取来的所有的利息和，其本质上是一种不良资产。假设，90天的应收账款余额的旋转的帐户仍然实相当稳定的，但是随着时间的推移，它可能会降低至同期的金额的价值之下。2债权人责任在今天的诉讼社会中，企业老板面临的最大

5、的问题是债权人的责任。这是许多行业所面临的潜在纠纷责任方面的问题。由于应收账款余额可能是最大的单一业务的资产，所以很多企业主相当关注，这也是受债权人的债权。这种行为所令人不安的是，在涉及多个业务的企业中，一个业务的应收账款余额的利益可能会受到另一业务的发生而产生不利的影响。3高收入税收一般来说,企业主往往具有相当高的收益,因此往往具有较高的税收负担。应收帐款融资的潜在利益应收账款融资是一种策略,是为了应对以下的问题,包括1、将应收账款余额作为一整个资产。2、应收账款余额按要求转给受保护债权人除了贷款以基本留置权制度对应收账款余额。3、可以提供企业主补充退休收入和税收上的优惠。应收帐款融资的候选

6、人3理想的候选人应该为一个公司的老板作出的应收账款融资策略1关心债权人责任2谁有兴趣得到一个有税收上的优惠的退休收入来补充他或她其他来源的退休收入。虽然这一策略的主要候选人通常是专业人士,例如医疗及牙医保险从业人员,正因为其存在潜在的医疗事故责任赔偿问题,任何类型的老板都会受益于这个策略。应该指出的是,这种策略要求候选人有良好的信誉,因为银行会公开参与贷款。此外,由于人寿保险是解决方案中的一部分,所以候选人需要有一个基本的人寿保险。应收账款融资方法正如先前讨论的应收账款融资的概述，这种策略基本上是作为银行贷款的抵押品来使用应收账款余额，然后利用银行贷款资金支付所收益的专业的寿险保单保费的现金价

7、值。然而，根据这种方法的使用情况来看，可能会有几个步骤干预这两个事件之间。应收账款的融资方式有个人贷款的方法和商业贷款的方式。1个人贷款的方法个人贷款的方式是与企业业主平等参与并承担应收账款余额的份额所取得的银行贷款。并且企业同意，作为该笔贷款的担保人。虽然企业的所有者负责支付每年的贷款利息，银行一般也根据贷款协议的条款，常常会支付业务代表雇主专门的贷款利息，并把它作为额外的补偿。银行通常会支付企业所有者自己的寿险保单的保费作为他发放贷款的收益。这一政策，将被用来作为为个人银行贷款的提供二次的抵押品。这种方法相比商业贷款的做法来说比较简单，因为它没有如何处理，如何获得贷款资金，及如何提高税收效

8、率的问题。由于贷款是直接向企业的所有者或专业提供能够支付寿险保单的全部金额，并将于稍后（偿还贷款后）补充退休收入的现金价值。这是一个个人贷款方法的关键优势。2商业贷款的方法商业贷款的方法根据参与业主的应收账款余额份额的业务来取得银行款。同时将该业务中应收账款余额的份额作为银行贷款的主要抵押品。由于企业对贷款债务人的义务，所以企业将负责支付贷款利息。支付的利息可能是由企业4来抵扣。由于债权人的保护和税务优惠来补充退休后的收入，所以利用银行贷款资金支付寿险保单保费潜在的原因有两个，最好的一个是如果企业没有自己的寿险保单，这意味着银行贷款所得款项将需要在其他身上实行。应收帐款（AR）筹资的优点1保护

9、您的应收账款和债权人的债权（对应收账款余额比其他贷款机构采取的主要留置权）。2可能会为您提供税务优惠的补充退休后的收入。5外文文献原文ACCOUNTSRECEIVABLEFINANCINGMATERIALSOURCEINTERNATIONALJOURNALOFBUSINESSANDMANAGEMENTAUTHORRAYMONDJSAULNIERANDNEILHJACOBYOVERVIEWOFACCOUNTSRECEIVABLEFINANCINGACCOUNTSRECEIVABLEFINANCINGINVOLVESUSINGTHEACCOUNTSRECEIVABLEBALANCEASTHEPRI

10、MARYCOLLATERALFORABANKLOANDEPENDINGONTHELENDERUSED,THELOANWILLBEEQUALTOTHEREVOLVINGACCOUNTSRECEIVABLEBALANCEGENERALLYRANGINGANYWHEREFROM30TO120DAYSALSODEPENDINGONTHELENDERUSED,THELOANMAYBEEQUALTOTHEENTIREBALANCEORTHECOLLECTIBLEBALANCESINCETHEBANKWILLHAVEAPRIMARYLIENAGAINSTTHERECEIVABLESBALANCE,THISP

11、ROTECTSTHEBALANCEFROMTHECLAIMSOFOTHERCREDITORSONCETHEBANKLOANISMADE,THELOANPROCEEDSCANBEINVESTEDFORTHEPURPOSEOFPROVIDINGTHEBUSINESSOWNERWITHDEATHBENEFITPROTECTIONANDPOTENTIALLYASOURCEOFSUPPLEMENTALRETIREMENTINCOMECLIENTSSHOULDCONSULTTHEIROWNLEGALCOUNSELASTOTHEEXTENT,IFANY,TOWHICHTHEACCOUNTSRECEIVABL

12、EANDLIFEINSURANCECASHVALUEANDDEATHBENEFITMAYBEPROTECTEDFROMCREDITORSSECONDLY,ANINDIVIDUALLYOWNEDLIFEINSURANCEPOLICYMAYPROVIDETHEBUSINESSOWNERWITHINCOMETAXADVANTAGESONEADVANTAGEISTHATANYGROWTHOFTHEPOLICYCASHVALUEWILLBEINCOMETAXDEFERREDASECONDADVANTAGEISTHATIFTHEPOLICYISPROPERLYDESIGNEDASANONMODIFIEDE

13、NDOWMENTPOLICY,THEBUSINESSOWNERMAYBEABLETOTAKEINCOMETAXFREEDISTRIBUTIONSFROMTHEPOLICYINCOMETAXFREEDISTRIBUTIONSAREACHIEVEDBYWITHDRAWINGTOTHECOSTBASIS,THENUSINGPOLICYLOANSPOLICYLOANSWILLREDUCETHEPOLICYSCASHVALUEANDDEATHBENEFITWITHDRAWALSWILLREDUCETHEPOLICYSCASHVALUEANDMAYREDUCETHEDEATHBENEFITTHISASSU

14、MESTHEPOLICYQUALIFIESASLIFEINSURANCEANDDOESNOTLAPSEIFTHEPOLICYLAPSESORISSURRENDERED,THEIRSWILLTAXDISTRIBUTIONSRECEIVEDOVERTHELIFE6OFTHEPOLICYANDATTERMINATIONTHATAREINEXCESSOFTOTALPREMIUMSPAIDTHEBANKMAKINGTHELOANWILLVERYLIKELYREQUIRETHATTHELIFEINSURANCEPOLICYBEASSIGNEDASSECONDARYCOLLATERALTOTHEBANKEV

15、ENTHOUGHINMOSTCASESTHEBANKWILLLOOKPRIMARILYTOTHEACCOUNTSRECEIVABLEBALANCEINTHEEVENTOFDEFAULT,THELIFEINSURANCEPOLICYCASHVALUEPROVIDESALIQUIDSOURCEOFCOLLATERALINTHEEVENTTHEACCOUNTSRECEIVABLEBALANCEISINSUFFICIENTTOPAYBACKTHELOANTHELOANWILLTYPICALLYBEOUTSTANDINGASLONGASTHEBUSINESSOWNERORPROFESSIONALISST

16、ILLWORKINGHOWEVER,THELOANWILLNEEDTOBEEXTENDEDFROMTIMETOTIME,ANDTHEBANKWILLLIKELYDOSO,ASSUMINGTHEBUSINESSOWNERORPROFESSIONALCONTINUESTOBEAGOODCREDITRISKONCETHEBUSINESSOWNERRETIRES,THELOANAGREEMENTWILLGENERALLYPROVIDETHATTHELOANMUSTBEREPAIDWITHINASPECIFIEDPERIODOFTIMEOFTENTIMES,THELOANAGREEMENTMAYGIVE

17、UPTO180DAYSINORDERTOPROVIDESUFFICIENTTIMEFORTHEOUTSTANDINGACCOUNTSRECEIVABLETOBECOLLECTEDKEEPINMINDTHATTHERECEIVABLES,ONCECOLLECTED,WILLBEINCOMETAXABLETHEREFORE,ITMAYONLYBETHE“NET”AFTERTAXAMOUNTOFTHERECEIVABLESTHATISAVAILABLETOREPAYTHEBANKLOANTOTHEEXTENTTHATTHEREISADEFICIT,THELIFEINSURANCEPOLICYVALU

18、ESOROTHEROUTSIDEFUNDSCANBEUSEDPROBLEMSFACEDBYBUSINESSOWNERS1ACCOUNTSRECEIVABLEBALANCEISANONPERFORMINGASSETMANYCLIENTSTODAYDONOTSETTLETHEIRBILLSATTHETIMETHATABUSINESSPROVIDESITSPRODUCTSORAPROFESSIONALPERFORMSHISORHERSERVICESTHISISESPECIALLYTRUEINTHECASEOFSERVICECOMPANIESANDMEDICALANDDENTALPRACTICESIT

19、ISOFTENTHECASETHATMANYSERVICESAREPAIDFORUSINGCREDITORINSURANCESINCETHESERVICESHAVEBEENPERFORMEDBUTNOTYETPAIDFOR,THISCREATESANACCOUNTRECEIVABLEOFTENTIMES,ABUSINESSACCOUNTSRECEIVABLEBALANCECANBETHESINGLELARGESTASSETOFTHEBUSINESSASIGNIFICANTISSUEWITHTHEACCOUNTSRECEIVABLEBALANCEISTHATTHISMONEYTHATTHEBUS

20、INESSOWNERISOWEDEARNSNOINTERESTANDISESSENTIALLYANONPERFORMINGASSETASSUMINGTHATTHE90DAYREVOLVINGACCOUNTSRECEIVABLEBALANCEREMAINSFAIRLYSTABLEOVERTIME,ITMAYBEWORTHAPPROXIMATELYTHESAMEAMOUNTYEARSDOWNTHE7ROADASITISWORTHNOW2CREDITORLIABILITYINTODAYSLITIGIOUSSOCIETY,CREDITORLIABILITYISONEOF,IFNOTTHEBIGGEST

21、,ISSUEFACINGBUSINESSOWNERSTHISISPARTICULARLYTRUEWITHRESPECTTOTHEPOTENTIALMALPRACTICELIABILITYTHATMANYPROFESSIONSFACEGIVENTHATTHEACCOUNTSRECEIVABLEBALANCEMAYBETHESINGLELARGESTASSETOFTHEBUSINESS,MANYBUSINESSOWNERSARECONCERNEDTHATTHISASSETISSUBJECTTOTHECLAIMSOFCREDITORSEVENMOREDISTURBINGISTHEFACTTHATIN

22、BUSINESSESINVOLVINGMULTIPLEPROFESSIONALS,ONEPROFESSIONALSINTERESTINTHEACCOUNTSRECEIVABLEBALANCEMAYBEADVERSELYAFFECTEDBYTHEACTIONSOFANOTHERPROFESSIONALWITHINTHATPRACTICE3HIGHINCOMETAXATIONINGENERAL,BUSINESSOWNERSTENDTOHAVEFAIRLYHIGHEARNINGS,ANDTHEREFORETENDTOHAVEAFAIRLYHIGHOVERALLINCOMETAXBURDENPOTEN

23、TIALBENEFITSOFACCOUNTSRECEIVABLEFINANCINGACCOUNTSRECEIVABLEFINANCINGISASTRATEGYTHATISINTENDEDTOADDRESSSOMEORALLOFTHEBELOWPROBLEMS,INCLUDING1TRANSFORMSTHEACCOUNTSRECEIVABLEBALANCEINTOAPERFORMINGASSET2PROTECTSTHEACCOUNTSRECEIVABLEBALANCEFROMTHECLAIMSOFCREDITORSOTHERTHANTHELENDINGINSTITUTIONTAKINGTHEPR

24、IMARYLIENAGAINSTTHERECEIVABLESBALANCE3MAYPROVIDETHEBUSINESSOWNERWITHTAXADVANTAGEDSUPPLEMENTALRETIREMENTINCOMECANDIDATESFORACCOUNTSRECEIVABLEFINANCINGTHEIDEALCANDIDATEFORTHEACCOUNTSRECEIVABLEFINANCINGSTRATEGYISABUSINESSOWNERWHO1ISCONCERNEDABOUTCREDITORLIABILITYAND2ISINTERESTEDINOBTAININGATAXADVANTAGE

25、DRETIREMENTINCOMETOSUPPLEMENTHISORHEROTHERSOURCESOFRETIREMENTINCOMEALTHOUGHTHEPRIMARYCANDIDATESFORTHISSTRATEGYAREOFTENPROFESSIONALSSUCHASMEDICALANDDENTALPRACTITIONERS,DUETOTHEIRPOTENTIALMALPRACTICELIABILITYISSUES,ANYTYPEOFBUSINESSOWNERWOULDPOTENTIALLYBENEFITFROMTHISSTRATEGYITSHOULDBENOTEDTHATCANDIDA

26、TESFORTHISSTRATEGYWILLNEEDTOHAVEGOODCREDIT,ASTHEREISABANKLOANINVOLVEDTHATWILLBEUNDERWRITTENINADDITION,SINCELIFE8INSURANCEISAPARTOFTHESOLUTION,CANDIDATESWILLNEEDTOHAVEABASICNEEDFORLIFEINSURANCEANDBEINSURABLEACCOUNTSRECEIVABLEFINANCINGAPPROACHESASPREVIOUSLYDISCUSSEDINTHEOVERVIEWOFACCOUNTSRECEIVABLEFIN

27、ANCING,THISSTRATEGYBASICALLYINVOLVESUSINGTHEACCOUNTSRECEIVABLEBALANCEASCOLLATERALFORABANKLOAN,ANDTHENUSINGTHEBANKLOANPROCEEDSTOPAYPREMIUMSINTOACASHVALUELIFEINSURANCEPOLICYFORTHEBENEFITOFTHEPROFESSIONALHOWEVER,DEPENDINGONTHEAPPROACHUSED,THEREMAYBESEVERALINTERVENINGSTEPSBETWEENTHOSETWOEVENTSTHETWOACCO

28、UNTSRECEIVABLEFINANCINGAPPROACHESARETHEPERSONALLOANAPPROACHANDTHEBUSINESSLOANAPPROACHPERSONALLOANAPPROACHWITHTHEPERSONALLOANAPPROACH,ABANKLOANEQUALTOTHEPARTICIPATINGBUSINESSOWNERSSHAREOFTHEACCOUNTSRECEIVABLEBALANCEISMADEDIRECTLYTOTHEOWNERTHEBUSINESSAGREESTOACTASGUARANTOROFSUCHLOANALTHOUGHTHEBUSINESS

29、OWNERISGENERALLYRESPONSIBLEUNDERTHETERMSOFTHELOANAGREEMENTFORPAYINGEACHYEARSLOANINTERESTTOTHEBANK,OFTENTIMESTHEBUSINESSWILLPAYTHELOANINTERESTONBEHALFOFTHEOWNERORPROFESSIONALANDTREATITASADDITIONALCOMPENSATIONTHEBUSINESSOWNERWILLTHENUSETHELOANPROCEEDSDISBURSEDTOHIMORHERBYTHEBANKTOPAYPREMIUMSONALIFEINS

30、URANCEPOLICYTHATHEORSHEWILLTYPICALLYOWNTHISPOLICYWILLBEUSEDASSECONDARYCOLLATERALFORTHEPERSONALBANKLOANTHISAPPROACHISRELATIVELYSIMPLEASCOMPAREDTOTHEBUSINESSLOANAPPROACHBECAUSEONEDOESNOTHAVETODEALWITHTHEISSUEOFHOWTOGETTHELOANPROCEEDSOUTOFTHEBUSINESSINATAXEFFICIENTMANNERSINCETHELOANISMADEDIRECTLYTOTHEB

31、USINESSOWNERORPROFESSIONAL,HEORSHEISABLETOUTILIZETHEENTIREAMOUNTTOPAYPREMIUMSINTOTHELIFEINSURANCEPOLICY,ANDWILLLATERAFTERLOANREPAYMENTHAVEACCESSTOTHEENTIRECASHVALUEFORSUPPLEMENTALRETIREMENTPURPOSESTHISISAKEYADVANTAGEOFTHEPERSONALLOANAPPROACHBUSINESSLOANAPPROACH9WITHTHEBUSINESSLOANAPPROACH,ABANKLOANE

32、QUALTOTHEPARTICIPATINGOWNERSSHAREOFTHEACCOUNTSRECEIVABLEBALANCEISMADETOTHEBUSINESSTHEBUSINESSWILLPLEDGETHEOWNERSSHAREOFTHEACCOUNTSRECEIVABLEBALANCEASTHEPRIMARYCOLLATERALFORTHEBANKLOANSINCETHEBUSINESSISTHEOBLIGORONTHELOAN,THEBUSINESSWILLBERESPONSIBLEFORPAYINGTHELOANINTERESTTHEINTERESTPAYMENTSMAYBEDED

33、UCTIBLEBYTHEBUSINESSSEEMISCELLANEOUSTAXISSUESSECTIONOFTHISGUIDEFORAMOREDETAILEDDISCUSSIONOFLOANINTERESTDEDUCTIBILITYSINCECREDITORPROTECTIONANDTAXADVANTAGEDSUPPLEMENTALRETIREMENTINCOMEARETWOOFTHEPOTENTIALREASONSFORUSINGTHEBANKLOANPROCEEDSTOPAYPREMIUMSONALIFEINSURANCEPOLICY,ITISBESTIFTHEBUSINESSDOESNT

34、OWNTHELIFEINSURANCEPOLICYTHISMEANSTHATTHEBANKLOANPROCEEDSWILLNEEDTOBEDISTRIBUTEDINONEWAYORANOTHERTOTHEPERSON/ENTITYTHATWILLOWNTHEPOLICYBENEFITSOFACCOUNTSRECEIVABLEARFINANCING1PROTECTSYOURACCOUNTSRECEIVABLEFROMTHECLAIMSOFCREDITORSOTHERTHANTHELENDINGINSTITUTIONTAKINGTHEPRIMARYLIENAGAINSTTHERECEIVABLESBALANCE2MAYPROVIDEYOUWITHTAXADVANTAGEDSUPPLEMENTALRETIREMENTINCOME