Cash Conversion Cycle and Working Capital Management The concepts of cash conversion cycle and working capital management are integral to understanding the generation and disposition of cash flow and reserves. Fundamentals of Financial Management. Choose any public company with inventory, receivables, and accounts payable on its balance sheet and calculate the CCC for that company. Do not use a company already selected by another student. Make sure you show all your calculations. (You may need to revisit Chapter 4 of your text to review how to calculate financial ratios.)