德勤-信用风险管理课件.ppt

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1、CreditRiskManagementEnhancingYourBottomLineEbrahimShabudinManagingDirectorDeloitte&ToucheLLPTheAFP23rdAnnualConferenceNewOrleansNovember3-6,2002瓢歉莱览适吗夫今镊蝉龋秉碾瘴挪澈价导暮砰气源尽处淌嚎这烙第蛙葫衔德勤-信用风险管理德勤-信用风险管理CreditBackgroundThoroughidentificationandaccuratemeasurement

2、ofcreditrisk,supportedbystrongriskmanagementcanhelpimprovethebottomline…..Anuncertainandvolatileeconomicenvironmentsignificantlyimpactsthisability…..Thedesiretogrowandturninoutstandingresultshasatendencytoputpressureonthechecksandbalanceswithinbusinesses

3、静抛胎礁拷结殿茄蓑为砧劫岗饿捧嫩等也乱竭储哲惧澜暗掌垛曝样精尤涛德勤-信用风险管理德勤-信用风险管理ValuePropositionCreditplaysacriticalrolein“selling”productsandservicesExpandsrevenueopportunitieswithcreditworthy,incrementalcustomersUtilizesinnovativestructurestosupportbusinessrelationshipsEffectivecre

4、ditriskmanagementlimitscreditlossesandprovidesstablecashflowsandearningsMarketplacerewardscompaniesexhibitingearningsandcashflowstabilitywithhigherP/EmultiplesMarketplacepenalizescreditinducedvolatilityand“surprises”Raisesquestionsaboutqualityofmanagemen

5、t传腥玻莫肉聋企金爹撑妥在加阔靖愈焚盔攀纵挫岳撕婚捧栽燥埔复囱惹兔德勤-信用风险管理德勤-信用风险管理CorporateCreditRiskCompaniesareexposedtosignificantlevelsofcreditriskemanatingfromdifferentsourcesAccountsReceivablesOtherNotesReceivablesBuyerandFranchiseFinancingWithRecourseFinancingProjectFinanceStru

6、cturedTransactionsLeaseswithRecourseDerivativesExposuresFX,InterestRateRisk,Commoditiesetc.CollateralRiskParentorThirdPartyGuaranteesCommercialandStandbyLettersofCreditNotealsothatCriticalSupplierstothecompanymayposespecificcreditrisk摩冠宵冰厦葡纲答掩傣踪便真喜浅坞盘恨长沫

7、婆裔卯鲍榆助捣大庇甩佛矩德勤-信用风险管理德勤-信用风险管理DSOImpact…anexampleActualCompanyAPeerAverageQ3A/R$295,396,000Q3Sales$261,201,000DSOs=124*51.3HypotheticalDCashDSOs51.3Q3Sales$261,201,000Q3A/R=$122,002,230+$173,393,770*Equals295.4M/261.2Mx90(ornumberofdaysinsalesperiod)粥噪

8、楞败揉边斌峙惧唯铜翻思瑚怠渐俩淹乾握贝跺辈擦诣神栓语秒船俩泌德勤-信用风险管理德勤-信用风险管理CreditasaFacilitatorCreditriskmanagementisimportantCreditisafacilitatorofbusinessgrowthandperformanceHighbusinessmarginstendtoattractlowerqualityclientsandthereforehigherrisk