Table 5 shows that the cooperatives almost implemented WCM along current
liabilities management. The result means that the cooperatives are
utilizing credit to support their day-to-day activities and they are
almost committed in fulfilling their short-term obligations.
As shown in Table 6, the cooperatives almost implement payables
management. The result seems to manifest that the cooperatives purchase
goods on account when needed and when they are allowed by their
suppliers. It shows that they give importance on payables management
since they are using credit to allow them to procure inventory without
needing to disburse cash immediately. They almost implement budgeting of
accounts payable, utilizing credit to finance their inventory needs, and
maximizing credit terms given by their suppliers.
The result in Table 7 shows that the cooperatives fully implement making
timely payments for their accrued expenses such as labor, taxes,
interest, utilities and others. This means that they ensure that they
pay their recurring expenses without any delay. It is noteworthy also
that they almost implement indicators such as minimizing their accrued
expenses, matching accrued expenses to their current assets, planning
and budgeting, and ensuring availability of cash to meet penalties or
overdue interest in case they are in default.
In Table 8, it presents that the cooperatives almost implement
short-term loans management. It is notable that they give importance on
ensuring that they have enough capacity to meet their commitments to
their creditors. Primarily, they match their current assets to their
loans such as maintaining availability of inventory and receivables to
be converted into cash to pay their loans and interest on time. Also,
they ensure that they have additional capacity in case the cooperative
needs to incur additional cost (e.g. overdue interest, penalties,
charges, etc.) due to delay in payment.