You are evaluating the role of accruals in working capital management for two industrial conglomerates, General Electric (GE) and Siemens AG, for the fiscal year 2023.

Requirements:

1. GE reported total accruals of $8 billion and working capital of $20 billion for the fiscal year 2023. Siemens reported total accruals of $6 billion and working capital of $15 billion during the same period.
2. Calculate the accruals ratio for both GE and Siemens.
3. Analyze and discuss the impact of accruals on the working capital efficiency of GE and Siemens, considering their liquidity and operational needs.