如果是buy inventory by credit的话，首先inventory要增加，days of inventory on hand增加。同时，payables也要增加，mumber of days of payables也要增加。
operating cycle = days sales outstanding + days of inventory on hand，所以要增加。
cash conversion cycle = days sales outstangding + days of inventory on hand - number of days of payables
如果要判断cash conversion cycle是增加还是减少的话，就要看days of inventory on hand 和 number of days of payables谁增加的多，如果是days of inventory on hand 增加的多的话，那cash conversion cycle就会增加，如果是number of days of payables增加的多的话，那cash conversion cycle就会减少。
我们可以从公式出发
payables turnover = purchases / average payables
inventory turnover = COGS / average inventory
所以他们涉及了4个变量的变化，这个具体怎么变化要依具体题目而定
如果，如你说的the same day increase in "days of inventory on hand" and "number of days of payable" if only considering this issue
那 cash conversion cycle是保持不变的，因为days of inventory on hand增加的量和number of days of payable减少的量是相同的，相互抵消不影响最后结果。
发表于 2013-9-14 02:35
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