employee
Moscow, Russian Federation
The article presents an analysis of the factoring services market at the national and global levels, and identifies the main factoring market development trends. Based on the material of transport service company, limited liability company "Fairway", the authors substantiate the economic efficiency of factoring as a tool for replenishment of circulating assets of transport companies in the current economic conditions. Accumulation by factoring a number of functions is an important advantage over other forms of funding. This is especially important for small and medium-sized businesses in sphere of transport service that do not have sufficient volume of human and financial resources. Factoring allows to avoid a situation where the liability to tax on income appears before inflow of funds from the sale. Greater incentive for the factoring development for tax optimization is applying of a similar approach to the determination of the date of VAT payment. Funding within the factoring will allow Fairway to solve the problem of shortage of working capital without growth of accounts payable. Factoring has a positive effect on the financial indicators of an enterprise, such as liquidity and solvency. In general, the impact of factoring on the financial indicators of the transport service company "Fairway" is carried out by means of reduction of accounts receivable turnover period (shortening of the financial cycle), increasing the receivables turnover (number of turnovers), the reduction of the value of accounts receivable (release), more efficient use of working capital, increasing the coefficient of instant liquidity, reducing the tax base for income tax.
factoring, accounts receivable, financial resources, transport services
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