O. A. Gerasimenko, O. V. Nazarova, A. V. Zakharyan, A. A. Khramchenko
Kuban State Agrarian University named after I. T. Trubilin, Krasnodar, Russia
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Volume 26 No. 8
Date of paper submission: 16.06.2025, date of review: 08.11.2025, date of acceptance: 25.05.2026.
Published: 08/31/2026
Abstract. This study tackles the critical problem of inefficient accounts receivable (AR) and accounts payable (AP) management in agricultural enterprises, where conventional financial models fail to account for sector-specific constraints including seasonal fluctuations, climate vulnerabilities, and extended production cycles. The urgent need for specialized liquidity tools is highlighted by a 47 % surge in delinquent AR across Russian agribusiness (2024) coupled with a 166 % cumulative growth in AP obligations during 2019–2024. The purpose of the study is to empirically validate the Debt Efficiency Ratio (DER) – an innovative metric designed for comprehensive assessment of AR/AP alignment in organizations exposed to agricultural operational risks. Methodological approach – financial statements from three distinct agribusinesses in Krasnodar Krai (Russia) representing stable, crisis, and critical financial states (2022–2024 period) were analyzed through: comparative evaluation of AR/AP dynamics; turnover period computations; correlation-regression modeling; stress-testing of payment cycle synchronization. The scientific novelty lies in the development of the debt efficiency ratio – the first instrument that integrates not only the ratio of the volumes of accounts receivable and accounts payable, but also the time factor (the difference in their turnover periods). This dual-parameter model identifies latent liquidity risks undetectable through standard solvency indicators. Results. Application revealed three distinct operational profiles: stable enterprises (DER = 1.47): demonstrated optimal payment synchronization; crisis entities (DER = 0.34): exhibited negative cash flow gaps (–6 days); critical cases (DER = 0.04): showed severe payment cycle misalignment (–454 days). The practical significance is that the debt efficiency ratio serves as a tool for preventive financial control of cash gaps, a KPI for evaluating decisions (restructuring, discounts, factoring), and a benchmark for comparing companies.
Keywords: accounts receivable management, agricultural accounts payable, Debt Efficiency Ratio, financial resilience of agribusiness, cash flow gaps in agriculture, liability turnover analysis, liquidity timing mismatch, debt restructuring strategies, payment imbalance assessment, Russian agribusiness sector
For citation: Gerasimenko O. A., Nazarova O. V., Zakharyan A. V., Khramchenko A. A. Quantifying payment cycle synchronization in agribusiness: an integrated metric for accounts receivable/payable efficiency. Agrarian Bulletin of the Urals. 2026; 26 (08): С. 1571‒1579. https://doi.org/10.32417/1997-4868-2026-26-08-1571-1579 (In Russ.)
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