Home  Journals  International Accounting  6(504) - 2023 June

Accounts payable forecasting in financial management: Opportunities and limitations

Received: 11 May 2023

Received in revised form: 25 May 2023

Accepted: 30 May 2023

Available online: 15 June 2023

Subject Heading: Managerial accounting

JEL Classification: М40, М41

Pages: 645–667

https://doi.org/10.24891/ia.26.6.645

Subject. The article deals with the issues of organization of an effective system of financial planning of accounts payable and the practical possibilities of using forecasting tools for the purposes of financial management of an economic entity.
Objectives. The article aims to develop methodological approaches to forecasting the accounts payable of the economic entity in the context of financial management.
Methods. For the study, we used prospective analysis and synthesis, generalization, comparison, systems approach, and the time series decomposition technique.
Results. The article substantiates the necessity of building a forecast of the economic entity's accounts payable in the context of financial management, proposes forecasting based on a time series model, and reveals methodological aspects of preparing a pro forma balance sheet of debt movement to creditors.
Conclusions and Relevance. Accounts payable forecasting as a financial management tool is one of the stages in the formation of the cash budget and pro forma balance sheet of an economic entity. The results of the study can be applied by accountants, financial controllers and specialists of the management accounting service in the process of accounting and analytical work for the organization of financial management of accounts payable of an economic entity.

Keywords: financial management, forecasting, pro forma balance sheet, payment and account balance sheet, predictive analysis, accounts payable, accounts receivable, time series model

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