What you’ll learn3 learning objectivesChoose one objective for a focused lesson, or study the complete topic.3.6.1(HL)—Efficiency ratios• Calculate and interpret stock turnover, debtor days, creditor days, and gearing ratio• Efficiency ratios evaluate working capital management and financing structureSyllabus objective3.6.2(HL)—Improving efficiency ratios• Evaluate possible strategies to improve efficiency ratios• Strategies may target stock control, credit terms, debt collection, supplier payment, and capital structureSyllabus objective3.6.3(HL)—Insolvency and bankruptcy• Distinguish insolvency and bankruptcy• Insolvency means inability to meet debts; bankruptcy is a legal status or processSyllabus objective