1、1外文翻译MONITORINGACCOUNTSRECEIVABLEUSINGVARIANCEANALYSISMATERIALSOURCEFINANCIALMANAGEMENTAUTHORGEORGEWGALLINGERANDAJAMESIFFLANDERIINTRODUCTIONINTHEPASTTENYEARS,SEVERALARTICLESHAVEAPPEAREDINTHELITERATUREDISCUSSINGTHEMONITORINGOFACCOUNTSRECEIVABLEWITHFEWEXCEPTIONS,HOWEVER,THEMONITORINGTECHNIQUESPROPOSED
2、INTHESEARTICLESHAVENOTBEENINCORPORATEDINTOTHESTANDARDTEXTBOOKDISCUSSIONSTHEREFORE,ITISNOTSURPRISINGTHATTHETRADITIONAL,ANDOFTENMISLEADING,TECHNIQUESOFDAYSSALESOUTSTANDINGDSOANDAGINGSCHEDULESSTILLAPPEARTOBETHEPRIMARYVEHICLESUSEDBYANALYSTSTOEVALUATEAFIRMSACCOUNTSRECEIVABLEBALANCEASDISCUSSEDBYSTONE,MANY
3、ANALYSTSRECOGNIZETHATRECEIVABLESCANBEINFLUENCEDBYSALESEFFECTS,ANDTHEYATTRIBUTETHISTOSEASONALORCYCLICALFACTORSTHEYATTEMPTTOELIMINATE,ORATLEASTMINIMIZE,THESEEFFECTSBYCOMPARINGCALCULATEDDSORATIOSANDAGINGSCHEDULESAGAINSTTHOSEOFHISTORICALPERIODSORTHOSEOFCOMPETITORSHOWEVER,THISAPPROACHMAYNOTBEVERYSATISFAC
4、TORYHISTORYSELDOMREPEATSITSELFEXACTLY,BECAUSEOFCHANGESINTHELEVELOFINTERESTRATES,CUSTOMERMIX,ANDMANYOTHERFACTORSTHATMAKEITDIFFICULTTOMAKEMEANINGFULCOMPARISONSINTHECASEOFCOMPETITORS,ITISDIFFICULTTOMAKECOMPARISONSBECAUSEOFDIFFERENCESINSIZE,PRODUCTMIX,ANDGEOGRAPHICLOCATIONSOFCOMPANIESONEWAYTOOVERCOMETHE
5、SEPROBLEMSISTOABANDONDSOMEASURESANDAGINGSCHEDULESANDRELYONBALANCEFRACTIONSORPAYMENTPATTERNSANOTHERAPPROACHISTOUSEANACCOUNTINGBASEDDOLLARVARIANCEANALYSISMODELASDISCUSSEDINTHISARTICLETHEVARIANCEANALYSISMODELCOMPARESACTUALAGAINSTBUDGETEDRECEIVABLEPERFORMANCEAREALADVANTAGEOFUSINGABUDGETISTHATITCANOVERCO
6、METHEMANYPROBLEMSINHERENTINHISTORICALDATAASSUMINGTHATMANAGEMENTHASCONSCIENTIOUSLYCALCULATEDTHEBUDGETAMOUNTS,THENCONDITIONSEXPECTEDTOEXISTDURINGTHEBUDGETPERIODAREINCORPORATEDINTOTHEACCOUNTSRECEIVABLEBUDGETTHISISOBVIOUSLYBETTERTHANCOMPARINGACTUALPERFORMANCETOSOMEPRIORPERIODTHATMAYNOTBEREPRESENTATIVEOF
7、CONDITIONSPREVAILINGDURINGTHEBUDGETPERIODADDITIONALADVANTAGESOFAVARIANCEMETHODOLOGYAREASFOLLOWSFIRST,ERRORSINSALESPROJECTIONSANDCOLLECTIONSFORECASTSAREREADILYEVIDENTTHISPROVIDESMANAGEMENTWITHTHEOPPORTUNITYTOASSESSBUDGETASSUMPTIONSANDIMPROVETHEQUALITYOFFORECASTSSECOND,THEDSOCALCULATIONISINDEPENDENTOF
8、BOTHTHESALESAVERAGINGPERIODANDANYSALESTREND,THUSOVERCOMINGCRITICISMSOFTRADITIONALMEASUREMENTTECHNIQUESTHEINDEPENDENCEOFTHEDSOCALCULATIONALLOWSIDENTIFICATIONOFACOLLECTIONEXPERIENCEVARIANCEANDASALESEFFECTVARIANCETHIRD,THESALESEFFECTVARIANCECANBEDECOMPOSEDINTOCOMPONENTSTHATALLOWTHEINFLUENCEOFSALESONREC
9、EIVABLEBALANCESTOBEBETTERUNDERSTOODIIAVARIANCEANALYSISMODELTHEEXPRESSIONVARIANCEANALYSISISUSUALLYCONSIDEREDINASTATISTICALCONTEXTASTHESUMOFSQUAREDDEVIATIONSFROMTHEMEANOURUSAGEOFTHEEXPRESSIONISCONSIDERABLEDIFFERENTWEADOPTTHECOSTACCOUNTANTSDEFINITION,WHEREINVARIANCEISDEFINEDASTHEDOLLARDIFFERENCEBETWEEN
10、ACTUALANDBUDGETEDAMOUNTSTHISAPPROACHALSOREQUIRESEXPLICITDEFINITIONOFTHEMEANINGOFTHEWORDBUDGETINOURPROBLEM,THEACCOUNTSRECEIVABLEBUDGETISCALCULATEDBYMULTIPLYINGSINGLEESTIMATESFOREXPECTEDSALESBYSINGLEESTIMATESFOREXPECTEDDAYSSALESOUTSTANDINGTHERESULTINGFIGUREISREFERREDTOASASTATICIE，EXTANTBUDGETIFACTUALS
11、ALESDIFFERFROMEXPECTEDSALES,AREVISEDBUDGETISDETERMINEDTOREFLECTTHENEWSALESLEVELTHISEXPOSEBUDGETISCALLEDAFLEXIBLEBUDGETASWILLBECOMEEVIDENTSHORTLY,THEFLEXIBLEBUDGETISTHEPIVOTALBUDGETFORSEPARATINGTHETOTALVARIANCEINTOCOMPONENTSTHATEXPLAINTHEDISCREPANCYBETWEENACTUALANDBUDGETEDPERFORMANCEWHENACTUALMONTHLY
12、SALESDIFFERFROMBUDGETEDMONTHLYSALES,ONESHOULDEXPECTTHEACTUALTOTALRECEIVABLEBALANCETODIFFERFROMTHEBUDGETEDAMOUNTHOWEVER,ITISUNREASONABLETOCOMPARETHEACTUALRECEIVABLEBALANCETOTHEBUDGETANDATTRIBUTETHEDIFFERENCETOTHEINFLUENCEOFSALESITISJUSTASUNREASONABLETOATTRIBUTETHETOTALDIFFERENCETOCOLLECTIONEFFICIENCY
13、AFIRSTLEVELOFANALYSISPARTITIONSTOTALRECEIVABLEVARIANCEINTOACOLLECTIONEXPERIENCEVARIANCE,ASALESEFFECTVARIANCE,AND,INSOMECASES,AJOINTEFFECTVARIANCECALCULATIONOFTHESEVARIANCESISBASEDONRELATIONSHIPSBETWEENACTUALANDBUDGETEDDAYSSALESOUTSTANDINGANDACTUALANDBUDGETEDSALESPERDAYTHEJOINTEFFECTVARIANCEHASRECENT
14、LYBEENDISCUSSEDBYGENTRYANDDELAGARZATHEYSHOWTHATTHECOLLECTIONEXPERIENCEANDSALESPATTERNVARIANCESCANBESIGNIFICANTLYDISTORTEDIFTHEJOINTVARIANCEISNOTISOLATEDCONSIDERABLEDEBATEEXISTSINTHEACCOUNTINGLITERATUREABOUTTHEUSEFULNESSOFTHEJOINTVARIANCEWEINCLUDEITINOURDISCUSSIONSOASTOGIVEMATHEMATICALLYCORRECTSOLUTI
15、ONSANDLEAVEITTOTHEREADERTOASCERTAINTHERELEVANCEOFTHEJOINTVARIANCEACOLLECTIONEXPERIENCEVARIANCETHECOLLECTIONEXPERIENCEVARIANCEISOLATESTHEEFFICIENCYOFACTUALCOLLECTIONSRELATIVETOREVISEDIEFLEXIBLEBUDGETCOLLECTIONSTHEIMPORTANCEOFTHISREVISIONISTHATTHEFLEXIBLEBUDGETACCOUNTSFORTHEFACTTHATSALESHAVECHANGEDFRO
16、MORIGINALBUDGETEXPECTATIONSTHEFLEXIBLEBUDGET,HOWEVER,DOESNOTCHANGETHEDAYSSALESOUTSTANDINGMEASURE,SINCEBUDGETASSUMPTIONSABOUTCREDITTERMSANDCREDITSTANDARDSARESTILLASSUMEDTOBEVALIDBSALESEFFECTVARIANCEBYRESTATINGTHESTATICBUDGETTOAFLEXIBLEBUDGETINORDERTOELIMINATETHEINFLUENCEOFCHANGINGSALES,THECOLLECTIONE
17、XPERIENCEVARIANCEWASISOLATEDTHISFLEXIBLEBUDGETISNOWUSEDTOELIMINATETHEINFLUENCEOFCOLLECTIONEXPERIENCEONTOTALVARIANCESSOTHATTHEEFFECTOFSALESONACCOUNTSRECEIVABLEBALANCESCANBEMEASUREDONEMIGHTARGUETHATCREDITMANAGERSCANNOTBEHELDACCOUNTABLEFORTHESALESEFFECTVARIANCEALTHOUGHTHISISGENERALLYTRUE,CIRCUMSTANCESE
18、XISTTHATCANNEGATETHISCLAIMFOREXAMPLE,ONEOFTHECREDITMANAGERSTASKSISTODETERMINEIFCREDITSHOULDBEEXTENDEDTOCUSTOMERSANOVERLYLENIENTCREDITGRANTINGPOLICY,RESULTINGFROMINADEQUATEANALYSISOFCREDITAPPLICANTS,LEADSTOHIGHERSALES,BUTALSOTOHIGHERRECEIVABLEBALANCESTHATAREOUTSTANDINGLONGERIFTHISISTHECASE,THECREDITM
19、ANAGERISRESPONSIBLEFORATLEASTAPORTIONOFTHESALESEFFECTVARIANCEREGARDLESSOFWHOISHELDRESPONSIBLEFORTHESALESEFFECTVARIANCE,ANUNDERSTANDINGOFTHISVARIANCEISIMPORTANTINANALYZINGRESOURCEALLOCATIONHOWEVER,THESALESEFFECTVARIANCECANBEDIFFICULTTOINTERPRETCSALESPATTERNVARIANCEASALESPATTERNVARIANCEISKNOWNTOBEPRES
20、ENTSINCEDIFFERENCESEXISTBETWEENACTUALANDBUDGETEDMONTHLYSALESPROPORTIONSTHECALCULATIONOFTHEPATTERNVARIANCEISNOTASSTRAIGHTFORWARDASEITHERTHECOLLECTIONEXPERIENCEVARIANCEORTHESALESEFFECTVARIANCEWHEREASTHESEVARIANCESCANBECALCULATEDFOREACHMONTH,INDEPENDENTOFALLOTHERMONTHS,THEPATTERNVARIANCEMUSTUSEALLMONTH
21、STODATETHATHAVERECEIVABLEBALANCESOUTSTANDINGEITHERACTUAL,BUDGET,ORBOTHDSALESQUANTITYVARIANCETHEREMAININGCOMPONENTOFTHESALESEFFECTVARIANCEISTHESALESQUANTITYVARIANCEITREPRESENTSTHETRUESALESVOLUMEEFFECTONOUTSTANDINGACCOUNTSRECEIVABLEANALYSISOFTHEVARIANCESALSODIRECTSMANAGEMENTSATTENTIONTOBOTHEXPLICITAND
22、IMPLICITASSUMPTIONSINTHESTATICBUDGETFOREXAMPLE,THEMONTHLYSALESPATTERNVARIANCESINDICATETHATMANAGEMENTDIDNOTHAVEAVERYCLEARUNDERSTANDINGOFHOWSALESWOULDACTUALLYOCCURARECONCILIATIONOFSALESASSUMPTIONSWITHACTUALPERFORMANCESHOULDIMPROVEFUTURERESOURCEALLOCATIONDECISIONSIIITHEEFFECTOFACHANGINGCREDITPOLICYTHEP
23、REVIOUSANALYSISASSUMESTHATCREDITPOLICYISCONSTANTIFCREDITPOLICYCHANGES,ITISNECESSARYTOINCORPORATEANYCHANGESINTOTHEANALYSISSOASTOCORRECTLYSTATETHEVARIANCESFOREXAMPLE,ASSUMETHATMANAGEMENTDECIDESTOTIGHTENCREDITASOFTHESTARTOFMARCHTHISSHOULDRESULTINBOTHLOWERACTUALSALESANDINVESTMENTINRECEIVABLESFORMARCH,RE
24、LATIVETOTHE“PRECREDITPOLICYCHANGE“STATICBUDGETITALSOMEANSTHATANEWSTATICBUDGETFORMARCH,REFLECTINGTHESELOWEREXPECTATIONS,MUSTBEDETERMINEDIVOTHEREXTENSIONSTHEVARIANCEMODELCANBEUSEDTOACCOMMODATEVARIOUSOTHERFORMSOFRECEIVABLESANALYSIS,SUCHASANALYSISBYCUSTOMERS,PRODUCTLINES,GEOGRAPHICALAREAS,ORCOMBINATIONS
25、OFTHESEOROTHERDIMENSIONSALLTHATISNEEDEDAREBUDGETFIGURESFORACCOUNTSRECEIVABLEFOREACHDIMENSIONANALYZEDTHEPROLIFERATIONOFTHEUSEOFMICROCOMPUTERSANDDATABASESOFTWAREBYBUSINESSESMAKESTHISARELATIVELYEASYCOMPUTATIONALTASK,ASSUMINGTHATMANAGERSAREWILLINGTOSERIOUSLYCONSIDERWHATTHEVARIOUSBUDGETFIGURESSHOULDBEFOR
26、EXAMPLE,MANAGEMENTCOULDANALYZERECEIVABLESBYSALESDISTRICT,BYCUSTOMERSWITHINDISTRICTS,ANDBYPRODUCTLINESPURCHASEDBYCUSTOMERSWITHINDISTRICTSORTHEYCOULDJUSTASEASILYUSESOMEOTHERHIERARCHICALORDERINGALTHOUGHTHERESPECTIVETOTALSFORACTUALANDBUDGETEDRECEIVABLESARECONSTANTFROMONEHIERARCHICALALTERNATIVETOANOTHER,
27、THEVARIANCESCOMPUTEDWILLDIFFERTHISMAYCAUSECONSTERNATIONWITHMANAGERSIFTHEYAREPRESENTEDWITHTWODIFFERENTANALYSESONTHESAMEDATATHATALLOCATEVARIANCESDIFFERENTLYUNFORTUNATELY,THISPROBLEMCANNOTBEAVOIDEDMANAGEMENTHASTOBEEDUCATEDASTOTHEREASONTHATITOCCURSTHEREASONISTHATCALCULATEDDAYSSALESOUTSTANDINGANDSALESPER
28、DAYDIFFERFROMONEORDERINGSCHEMETOANOTHERFOREXAMPLE,INSTEADOFDOINGTHEANALYSISBYMONTHS,ASWASDONEEARLIER,ASSUMETHATTHECREDITMANAGERANALYZESACCOUNTSBYSALESDISTRICTSOBVIOUSLY,ACTUALANDBUDGETEDSALESPERDAYANDDAYSSALESOUTSTANDINGFORTHISANALYSISDIFFERFROMTHEANALYSISBYMONTHSAGGREGATIONISOVERSALESDISTRICTS,ASOP
29、POSEDTOMONTHSTHEVALUESUSEDTOCALCULATEDISTRICTISFLEXIBLEBUDGET,ANDTHEBUDGETTORESTATEACTUALSALESINBUDGETEDPROPORTIONS,DIFFERFROMTHEVALUESUSEDTOCALCULATESIMILARBUDGETSFORMONTHJINTHEMONTHLYANALYSIS,THEDIMENSIONOFTIMEISTHEIMPORTANTFACTOR,WHEREASLOCATIONISSECONDARYTIMEISSECONDARYINTHEDISTRICTSANALYSISANOT
30、HEREXTENSIONTHATCOULDBEINCORPORATEDISTOISOLATETHEEFFECTSOFCASHANDVOLUMEDISCOUNTSFROMTHECOLLECTIONEXPERIENCEANDSALESEFFECTVARIANCESHOWEVER,FORTHISEXTENSIONTOPROVIDEMEANINGFULINFORMATION,MANAGEMENTMUSTHAVEAREASONABLYGOODUNDERSTANDINGOFTHEPRICEELASTICITYOFTHEDEMANDFUNCTIONSFORITSPRODUCTS,ANDTHEDEMANDFU
31、NCTIONSMUSTREMAINSTATIONARYDURINGTHEPERIODINQUESTIONOTHERWISE,THEADDITIONALCOMPLEXITYISOFDUBIOUSVALUEVCONCLUSIONSTRADITIONALMEASURESOFDAYSSALESOUTSTANDINGANDAGINGSCHEDULESAREUNABLETOISOLATEANUMBEROFFACTORSTHATINFLUENCEACCOUNTSRECEIVABLEBALANCESWEPROPOSEANACCOUNTINGBASEDDOLLARVARIANCEMODELTHATCOMPARE
32、SACTUALPERFORMANCETOBUDGETANDIDENTIFIESCOLLECTIONEXPERIENCE,SALESPATTERN,ANDSALESQUANTITYINFLUENCESONRECEIVABLEBALANCESTHUS,ITOVERCOMESTHEDEFICIENCIESOFTHETRADITIONALMODELSANUNDERSTANDINGOFTHESEVARIANCESPROVIDESTHECREDITANALYSTWITHINFORMATIONTOBETTERUNDERSTANDHOWWELLRECEIVABLESHAVEBEENMANAGEDTHESEVA
33、RIANCESPROMPTQUESTIONS,SUCHASTHEFOLLOWINGISCOLLECTIONEFFICIENCYCHANGINGISTHEBUDGETEDRECEIVABLESPATTERNREPRESENTATIVEOFWHATTOEXPECTINTHEFUTUREWEREBUDGETASSUMPTIONSFORSALES,RECEIVABLES,ANDCOLLECTIONEFFORTSFAULTYAREASSUMPTIONSFORTHECHANGINGCREDITTERMSREALISTICISTHECREDITSCREENINGMODELEFFECTIVEHOWISTHEF
34、IRMSLIQUIDITYAFFECTEDANSWERSTOTHESEQUESTIONSPROVIDETHEANALYSTWITHBETTERINFORMATIONFOREVALUATINGRECEIVABLES译文运用方差分析监管应收账款资料来源财务管理作者GEORGEWGALLINGERANDAJAMESIFFLANDER1介绍在过去的十年里，在文献中出现了多篇文章讨论关于应收账款的监测。然而，除少数外，这些文章中提出的监测技术还没有被纳入标准教科书的讨论，因此，这是不足为奇的，而且往往误导，对销售回款（DSO）和技术老化时间表似乎仍然被分析师用来评价一个公司的应收账款余额的主在工具。据斯
35、通讨论，许多分析师也认同应收账款可以通过销售效应的影响，他们认为这与季节性或周期性因素有关。他们试图消除或尽量减少至少通过比较计算DSO的比率和对那些老化的历史时期或竞争对手和时间表这些影响。然而，这种方法可能不是很理想。历史很少一成不变地重复自己，因为利率水平变化、客户结构等一些其他的因素导致难以做出有意义的比较。在有竞争对手的情况下，由于在规模、产品结构和公司地理位置的差异，所以很难作出比较。有一种方法去克服这些问题，就是放弃DSO的措施、老龄化的时间表和依靠平衡组分或支付模式。另一种方法是使用会计基础的方差分析模型，如本文中讨论的。方差分析模型进行比较实际的预算应收款。使用预算真正的优势
36、在于，它克服了许多历史数据所固有的问题。假设管理层认真计算预算金额，然后将在预算期间存在的应收账款纳入预算中的条件。这是比较实际的表现明显高于前一期间的一些可能不属于本预算期间，代表目前的状况更好。方差方法的附加优点如下首先，在销售预测和收款预报误差可随时可见一斑，这提供了评估预算的假设，提高预报的质量管理的机会。第二，DSO是独立的计算平均周期和任何销售趋势，从而克服了传统测量技术的批评。在独立的DSO计算下，允许鉴定集合经验的差异和销售的效果差异。第三，销售效应方差可以分解成组件，允许应收账款余额的销售上的影响力得到更好的理解。2方差分析模型方差分析的表达通常被认为是从平均值偏差平方和统计
37、方面考虑。我们对表达的用法是相当不同的。我们采用了成本会计的定义，其中差异是实际与预算之间的差额确定数额。这种方法还需要对预算这个词的含义有明确的定义。在我们的问题里，应收账款的预算是由乘以预计销售回款为单一估计预期销售单估计。由此得出的数字被称为静态（即事前）的预算。如果实际销售与预期销售不同，将确定一份调整后的预算，以反映新的销售水平。这种预算称为弹性预算。由于短期内将变得明显，弹性预算是最重要的预算变异分离成构件之间的差距,可以解释实际和预算的性能差异。当每月的实际销售额与每月的销售预算不同，每个人都应该期待实际总应收账款余额不同于预算总额。但是，这是不合理的比较应收账款的平衡预算和销售
38、属性的影响差异，它只是作为不合理的属性差异的收集效率。第一层次的分析分区集总应收方差经验的销售效果变化方差,在某些情况下,共同作用方差的估计。这些方差的计算是基于实际和预算天之间的关系和实际和预算的每天销售。GENTRY和DELAGARZA最近讨论了联合效应方差，他们指出如果联合方差不是孤立的，收集经验和营销模式差异能明显扭曲。大量的辩论中存在的会计文献的联合效应的估计。我们把它列入我们的讨论，让数学给读者正确的解决方案，以确定它的联合差异的相关性。21收集经验的差异收集经验的差异是相对于弹性预算的时候效率。最重要的是弹性预算已经改变了最初预算这一事实，但是，灵活的预算不会改变销售回款措施，因
39、为有关信贷条件和信贷标准的预算假设，仍然认为是有效的。22销售效应方差为了消除销售转变的影响，在重申静态弹性预算时，收集经验的差异是孤立的。这种灵活的预算现在用来消除收集经验总变异的影响，使对应收账款余额占销售的影响可以衡量的。可能有人会说，信用管理人员可以不承担销售效应方差的责任。虽然一般来说这是事实,但存在能否定这个论述情况下。例如，信贷经理的任务之一是确定是否应扩大信贷给客户。过于宽松的授信政策，从信贷申请人不足分析的结果，导致更高的销售，但也使非常突出的应收账款余额更高了。如果是这样的情况,信用经理负责至少部分的销售效果方差的估计。不管谁负责销售效果的方差，了解方差分析的资源配置中起着
40、重要的作用，然而，销售效果差异可能很难解释。23销售模式差异销售模式差异是因为已知存在差异的实际和预算比例每月销售存在，该模式的差异计算不如要么收集经验的差异或销售效应方差简单。鉴于这些差异可以为每个月份计算，所有其他月份独立，格局变化必须使用所有月份迄今已收款余额余额（无论是实际的，预算，或两者）。24销售数量差异在销售效应方差其余部分是销售数量差异。它代表了真正的应收未收帐户销量的效果方差分析并指导管理的同时也重视显性激励和隐性假设在静态的预算。例如,月销售模式差异表明,管理没有很清楚地了解如何销售真的会发生。达成了和解与实际的表现将表现销售假设改进未来资源配置的决定。3改变信贷政策的影响
41、前面的分析，是假设信贷政策是不变的。如果信贷政策的变化，有必要将其纳入分析的任何变化，以进一步正确陈述差异。例如，假设管理层决定从三月开始紧缩信用，这将导致三月份的低应收账款和投资，相对于“预信贷政策的改变”静态预算。这也意味着三月份有一个新的静态预算，反映这些较低的期望，必须确定。4其他扩展方差模型可以用来容纳各种其他形式的应收账款分析，如客户，产品线，地理区域，或这些或其他方面的组合分析。所有这一切需要的是应收账款的预算数字为每个维度分析。该微型计算机及数据库软件企业的广泛使用使这是一个相对容易的计算任务，假设经理们愿意认真考虑一下各预算数字应该是多少。例如，管理者能够根据客户的所在地分析
42、应收账款的销售地区客户购买生产线的情况。或者他们可以很轻松地使用其他层次的排序。虽然实际和预算款项的总数从一个层次到另一个替代常数，计算的差异会有所不同。这可能会引起管理人员的惊愕，如果他们面前是两种不同的分析方差，相同的数据能分配不同，不幸的是，这个问题无法避免。管理必须以教育它发生的原因。每天销售额从一到另一个不同的排序方案的原因是销售回款和计算。例如，而不是做了数个月的分析，如果做的更早些，假设信贷经理分析了销售区的帐户。明显地，每天做这个分析不同于数个月的分析。是聚合是在销售区，而不是几个月。用于计算地区的值是弹性预算，预算中的预算比例重申销售，从用于计算每月预算的类似J的值不同于每月
43、分析，重要因素好似对时间维度，而位置是次要的。时间是在地区分析是次要的。另一个可纳入扩展是孤立于收集经验和销售影响方差的现金和批量折扣的影响。然而，对于这个扩展提供有意义的信息，管理必须有一个为它的产品的需求函数的价格弹性相当不错的了解，而需求的功能必须继续在有关期间平稳，否则，额外的复杂性是令人怀疑的价值。5结论传统手段相结合和老龄化的销售回款是无法分离出许多因素影响应收账款余额。我们提出了一个会计为基础的方差模型，比较实际业绩与预算，并确定收集的经验、销售模式、应收账款余额和销售数量的影响。因此，它克服了传统模式的不足。对这些差异的认识提供了信息，以便信用分析师更好地了解和应收账款已被管理。这些差异提示，如下面的问题是集效率变化吗预算的应收账款模式对可能发生的事情代表在未来吗预算假设进行销售，应收账款的收集要作，有问题吗对于信用条件的变化现实的假设信用筛选模型是否有效公司的流动性是如何影响回答这些问题，提供了更好的评估应收款信息分析师。
