Creditors/Payables Turnover Ratio
In course of business operations, a firm has to make credit purchases and incur short-term liabilities. The supplier of goods i.e., creditor is naturally interested in finding out how much time the firm is likely to take in repaying its trade creditors. From the business point of view, it represents cheap source of funds as a means of finance for most businesses. Consequently, many firms exploit its potential to the full.
Average payment period is a measure of length of time taken by a company to pay its customers. This period represents effectively free finance to the company. Hence, companies generally tend to extend this period without compromising other considerations such as its payment reputation and legal requirements.
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