Robert Patterson

I highly appreciate the ambition of writing a book intended for practitioners which addresses the difficult day-to-day realities of financial management in non-financial businesses [...] I believe that this work will be very useful for practice in the workplace as well as teaching in the classroom. Its Authors have collaborated well to produce a valuable learning tool. ...

This book explores an important but often neglected aspect of a firm's finances: trade credit management (TCM). When firms offering credit to each other so purchases can be made on open account it is a vital source of business-to-business credit flows. Trade credit is the life-blood of competitive economies. Trade credit involves taking calculated credit risks. In return, selling firms boost sales and profitability. Buying firms get access to credit. But trade credit has to be carefully managed....