Polityka kredytowa wobec odbiorców jako źródło tworzenia wartości przedsiębiorstwa

Selection of the most valuable sale should be considered as one of the most important tasks of the Value Based Management. One of the methods useful on this field is the analysis of net present value (NPV) of sale. Present Value (PV) of sale depends on: a) price of product and amount of sale, b) credit-policy alternatives (conditions of payments). In this paper is undertaken an attempt to consider problem of assessment cost of capital, depending on conditions of payments - prepayment, cash on, trade credit (two-part or net terms).