Sales as a Basis of Determining Capital Requirements in a Joint Stock Company

The deliberations contained in the article concern the methodology of estimating the amount of funds needed to finance of programme of sales increase in a company. A starting point for formulating capital requirements is a sales forecast, indices of capital intensity rates and spontaneous liabilities. The determined internal sources of financing the programme of sales decrease the overall amount of external funds needed by a company to finance the increase of sales. The size of this decrease is dependent upon: net profit, retained profit rate, dividend rate, rate of spontaneous liabilities, and depreciation. It is also affected by inflation.Zadanie pt. „Digitalizacja i udostępnienie w Cyfrowym Repozytorium Uniwersytetu Łódzkiego kolekcji czasopism naukowych wydawanych przez Uniwersytet Łódzki” nr 885/P-DUN/2014 zostało dofinansowane ze środków MNiSW w ramach działalności upowszechniającej nauk