Factoring study for Macedonia (Macédonien)

This assessment involves a comprehensive review of the Macedonian environment to appraise the issues relevant to the potential establishment of future factoring companies and corresponding recommendations. The study has been undertaken using the Terms...  Voir la suite This assessment involves a comprehensive review of the Macedonian environment to appraise the issues relevant to the potential establishment of future factoring companies and corresponding recommendations. The study has been undertaken using the Terms of Reference as a guideline for activity. Emphasis has been given to Macedonia's legal, banking, tax and accounting requirements and methods, as well as its pervading economy and business culture, and the demand for factoring. Factoring is a multifaceted product for companies engaged in domestic or international trade that combines both finance and services. Factoring is the purchase and finance of accounts receivable with the services of accounts receivable administration, collection, buyer credit coverage and the corresponding bad debt coverage in the event of loss due to the buyer's financial inability to pay. It converts accounts receivable into cash, thereby, facilitating the liquidity needs of a company. While this is a general description of factoring, often times, not all of the services are offered, due to differing conditions in each country. So, it is not unusual to see different types of factoring as country infrastructure conditions vary. This assessment is divided into two primary sections - the Executive Overview and the Principal Report. The Executive Overview, which follows, is a synopsis of the entire report, but also includes an action plan. The other section, the Principal Report is concentrated on those subject matters in Macedonia that could have the most influence on the introduction of factoring: the economy and business climate, a tax report, the accounting treatment of factoring, and banking and legal structures. Decisions must be reached on the introduction of factoring and, the type of factoring to be offered. This report concludes that Macedonia is very well positioned to move ahead with factoring. There are almost no changes that need to take place, but rather modifications or clarifications are required; and awareness will come with education to some extent.  Réduire

Document disponible en : Anglais