WC theory

In paper specimen 2014 there was a question that discuss briefly the factors which influence the formulation of working capital policy. In examiner answer one of the point mentioned was that Working capital policies will therefore be formulated so as to optimise as much as possible the length of the operating cycle and its components, which are the inventory conversion period, the receivables conversion period and payables deferral period. Here instead of writing inventory conversion period, the receivables conversion period and payables deferral period can I write inventory days, receivable days and payables days?

Similarly in dec 14 there was a question that Explain the meaning of the
term ‘cash operating cycle’ and discus the relationship between the cash operating cycle and the level of investment in working capital. Your
answer should include a discussion of relevant working capital policy and the nature of business operations.
In examiners answer it was written that he cash operating cycle is the sum of the inventory turnover period and the accounts receivable days, less the accounts payable days. Here instead of inventory turnover period can I write inventory days because inventory turover period confuse me a little bit as inventory turnover and inventory days both have different formulae