Bespalov M.V.Tambov State University named after G.R. Derzhavin, Tambov, Russian Federation rypy@list.ru
Importance The economic downturn tightens requirements to corporate loan policies. Therefore, accounts receivable constitute not only a method to stimulate sale of products, but also become a reliable source to replenish the company's liquidity through the assignment mechanism. To sell receivables, the company should have their value correctly measured. Objectives The research analyzes value drivers of receivables, including such as projected repayment dates and repayment risk. Methods We applied methods of logic analysis, forecasting, decision tree, analysis of regulatory documents, etc. Results We thoroughly substantiated methods for forecasting the repayment dates of receivables. In this respect, we reviewed the debt collection mechanisms. We suggest using a decision tree method to choose the liability repayment scheme. When receivables are measured, the repayment risk factor is basically considered as the discount rate. The article proposes two discounting measurement approaches: explanatory and deductive ones. Conclusions and Relevance The findings can be used to measure the market value of receivables as part of management accounting, or by independent appraisers to prepare the valuation report. The research reinforces the receivables valuation procedure with necessary information.
Keywords: receivables, value drivers, discount rate, debt repayment periods
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