2023-06-14|閱讀時間 ‧ 約 3 分鐘

Apple 的存貨及Vendor non-trade receivables 會計科目

在Apple公司的資產負債表上,除了存貨會計科目外,有一個 Vendor non-trade receivables 會計科目,排在存貨的下面一行,意味著流動性稍差於存貨,這個科目,按照蘋果公司財報的解釋,是屬於Apple產品製造商跟Apple購買零組件後,蘋果對這些製造商的應收帳款,原文的解釋如下:
The Company has non-trade receivables from certain of its manufacturing vendors resulting from the sale of components to these vendors who manufacture subassemblies or assemble final products for the Company. The Company purchases these components directly from suppliers. As of April 1, 2023, the Company had three vendors that individually represented 10% or more of total vendor non-trade receivables, which accounted for 43%, 19% and 13%. As of September 24, 2022, the Company had two vendors that individually represented 10% or more of total vendor non-trade receivables, which accounted for 54% and 13%.
也就是說,蘋果透過這樣的商業流程,一方面管理了供應鏈上製造商所使用的零組件,另一方面有把零組件的存貨管理壓力移轉給了製造商,讓蘋果一方面可以管控零組件的品質,也可以降低風險,可以說是一舉兩得。
但是若要了解蘋果產品的真實存貨水準,則需要把Vendor non-trade receivables科目跟存貨加總,因為當這些製造商完成成品之後,仍然會賣回成品給蘋果公司,成為蘋果公司的存貨,而這些零組件或成品的加總,才是真正蘋果產品供應鏈上的存貨水位。
蘋果存貨水位
蘋果存貨水位
例如上表,如果只單看存貨科目,則會覺得在2023/4/1,蘋果的存貨水位創下數季新高,甚至高於去年底銷售季節的水位,但若把Vendor non-trade receivables科目跟存貨加總,在考量數字與總資產的比率,則會發現2023年第一季底的蘋果存貨其實低於去年同期,占總資產比率的數字也是,也就是銷售季節的庫存去化的狀況其實優於去年。
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