{"id":263536,"date":"2024-04-25T09:44:41","date_gmt":"2024-04-25T09:44:41","guid":{"rendered":"https:\/\/imarticus.org\/blog\/?p=263536"},"modified":"2024-08-21T18:34:05","modified_gmt":"2024-08-21T18:34:05","slug":"working-capital-management","status":"publish","type":"post","link":"https:\/\/imarticus.org\/blog\/working-capital-management\/","title":{"rendered":"The Ultimate Guide to Working Capital Management"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Working capital is one of the most important aspects of a business. In recent years the world has witnessed surging growth in the development of large-scale and small-scale companies. These companies have faced numerous challenges in gathering formal credit for their working capital and tracking the cash flow. These factors have affected the growth of these companies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Therefore, a company needs effective working capital management that optimise the cash flow and can enhance the operational work of the company. This management also allows a company to track its current liabilities and current assets so that its obligations can be reduced rapidly.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A <a href=\"https:\/\/imarticus.org\/senior-management-programme-by-iim-lucknow\/\"><strong>senior management course<\/strong><\/a> will assist the senior managers of your company to learn more about working capital management and its functions. This will educate the existing employees in the company and will reduce the cost of hiring new employees.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let&#8217;s dive into this article to learn more about working capital management!<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What Do You Understand by a Working Capital?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The amount of liquidity that is available for a company through which it performs its daily operational works is termed working capital. You can calculate the working capital of a company by performing a subtraction between its current assets and current liability. The current assets are the money that is available in the bank and can be converted into cash whenever the company requires it.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the other hand, current liabilities mean the current loans that the company needs to repay to the lender. A company will have a positive working capital when there are more current assets than current liabilities. If the situation is quite the opposite then the working capital of the company turns out to be negative.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you wish to learn more about important management topics such as working capital management, a <\/span><span style=\"font-weight: 400;\">senior management certification<\/span><span style=\"font-weight: 400;\"> can definitely help you.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Definition of Working Capital Management<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">All companies need to manage their short-term assets and current liabilities this procedure of managing a company\u2019s capital is termed working capital management. This management supervises a company\u2019s inventory, current cash, as well as loans. It helps a company to have a continuous cash flow without hindering its operational works.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Continuous cash flow is maintained by working capital management simply by maximizing efficient operations that eventually cut off expenses and short-term loans. Working capital management also allows a company to reduce the number of loans from financial institutions.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Companies Using Working Capital Management in Real-Life<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There are renowned global companies that use working capital management just to maintain a continuous cash flow. Here are a few examples of such companies:<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h3><b>Walmart<\/b><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Walmart is one of the most trusted and famous companies due to its efficiency. This is because Walmart owns one of the most successful working capital management. It also has one of the finest supply chains in the States.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An efficient supply chain management will guide a company to have a lesser number of inventories that also decrease the various working capital requirements.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h3><b>Apple<\/b><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Apple manages its working capital by simply having a negative working capital, this is a unique strategy of this company. This is done because it directly takes capital from the consumers before paying it to the suppliers. This model allows the company to use the money of its suppliers for various operational work.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The senior management team of a company heads the working capital management system of that company. Hence to learn more about this team you can join an online<\/span><span style=\"font-weight: 400;\"> senior management course<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What are the Objectives of a Working Capital Management?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There are a few important objectives of working capital management. These objectives have been vividly elucidated below:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The main object of working capital management is to ensure that a company does not face any problems while operating the business. It creates a smooth trajectory right from the collection of raw materials for production to the delivery of the end products to the consumers.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Working capital management also tries to increase the returns that the company has invested in various investments upon its current liabilities. This means the valuation investments are higher than the funding of the current assets.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The cost of capital is also controlled with the efforts of working capital management. This is executed by negotiating with the financial institutions and selecting the most suited mode of finance.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Working capital management also optimises the profit margins of a company. If there is a delay in purchasing the raw materials then there is going to be a late delay in producing the final products which creates a huge loss for the company. Working capital management ensures that this scenario does not take place.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Effective working capital management is an important part of financial management and it allows companies to reach their <a href=\"https:\/\/imarticus.org\/blog\/financial-goals-and-investment-analysis-the-foundations-of-financial-management-for-senior-leadership\/\"><strong>financial goals<\/strong><\/a> effectively.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Importance of Working Capital Management<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Working capital management plays a crucial role in maintaining the finances of a company. Here we have stated why working capital management is important:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Cash Flow Management<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">A company needs to effectively manage its cash flow and hence it needs to reduce its external financing. Working capital management comes in such scenarios to rescue a company from getting insolvent by simply managing its daily capital and tracking the liquidity.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Efficient Operations<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Efficient working capital management is important in a company so that all the operational works can be smoothly carried on. For example, if a small company has an inventory with overstocking then this management would help it to control this situation as extra inventories require more space as well as capital.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Relationship with the Suppliers<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">To earn great credit terms and discounts a company must maintain a good relationship with its suppliers by sending them all their pending payments on time. Effective working capital management allows a company to build a good relationship of trust with the suppliers by sending them their pending payments on time.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Customer Relationship<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">For a continuous <a href=\"https:\/\/www.investopedia.com\/terms\/c\/cashflow.asp#:~:text=Cash%20flow%20is%20the%20movement,use%20of%20cash%20over%20time.\">cash flow<\/a>, a company needs to establish a good relationship with its consumers by making them happy with the end products and gaining their trust. Working capital management can easily create a good customer relationship by collecting customer data and analysing them.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Reduction in Financing Costs<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Working capital management allows a company to reduce its financing costs. This allows a company to discourage taking short-term loans and credits that hinder the current assets.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Various Opportunities for Investments<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">With the assistance of working capital management, a company can save a lot of capital that can be invested in lucrative opportunities that have a high rate of return. Otherwise, the surplus capital of the company can be used during any economic crisis.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Sustainability<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Often companies earn very negligible profits. In such scenarios, working capital management assists these companies, in the long run, to be sustainable and profitable. It also prevents a company from becoming insolvent by maintaining a continuous cash flow.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Risk Controlling<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Companies are often extremely vulnerable to economic downfall, market crashes, and other catastrophic events. These events cause economic shocks to these companies. Working capital management helps these companies save adequate capital so that they can control the risk of business failures.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Flexibility and Adaptability<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">There are certain instances when companies may face unexpected circumstances where there may be extra expenditure or changes that might hamper the working capital. Working capital management allows a company to be flexible enough so that it can adapt to such a situation.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Calculation of Working Capital<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There is a formula for deriving the working capital of a company. If you take away current liabilities from current assets, you can easily derive the final working capital of a company. The formula is:<\/span><\/p>\n<p><b>\u201cCurrent Assets \u2013 Current Liabilities= Working Capital\u201d<\/b><\/p>\n<h3><span style=\"font-weight: 400;\">Current Assets<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Current assets are those that a company can convert into cash at any given time. This asset must be utilised within the usual operating business cycle or a year. Here are some examples of current assets:<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h4><b>Cash<\/b><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Cash refers to the available money a company has in its bank account that it can use for business purposes at any time.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h4><b>Inventory<\/b><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Inventories are those products that are yet to be sold to consumers. They are either in the form of raw materials or in the form of final products that can be found in retail stores.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h4><b>Accounts receivable<\/b><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Account receivable is the money that a company will receive from its customers for the products as well as services that have been sold or given on credit.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h4><b>Prepaid expenses<\/b><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Prepaid expenses are the last example of the current assets. These are the advanced payments that are made by the consumers to the company for some services that they will avail of in the future. Insurances are one of the most popular examples of prepaid expenses.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Current Liabilities<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Current liabilities are the debts and loans that a company needs to repay within a year or the usual operating business cycle. Here are some examples of current liabilities:<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h4><b>Short-term loans<\/b><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Short-term loans are one of the perfect examples of current liabilities. These loans need to be repaid by the company within a period of 1 year.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h4><b>Bank Overdraft<\/b><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">When a company withdraws more of the available money from its banks it is termed a bank overdraft. This is another example of current liabilities that a company has to face while carrying out its business.<\/span><b><\/b><\/p>\n<ul>\n<li aria-level=\"1\">\n<h4><b>Accounts Payable<\/b><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The money a company needs to pay back when it takes goods or services from its suppliers on credit is termed accounts payable. This is another kind of current liability.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h4><b>Unpaid Liabilities<\/b><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">When a company uses some services without payment is known as unpaid liabilities. Some examples of unpaid liabilities are utilities and wages.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What are the various Working Capital Ratios?<\/span><\/h2>\n<h3><span style=\"font-weight: 400;\">Current Ratio<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The liquidity ratio that decides if a company is capable of repaying all its obligations, liabilities, as well as short-term loans is called the current ratio. Most of the investors of a company are interested in knowing this ratio so that they can analyse if a company can easily optimise its current assets as per the balance sheet.<\/span><\/p>\n<p><b>Formula: \u201cCurrent Assets \u00f7 Current Liabilities = Current Ratio\u201d<\/b><\/p>\n<h3><span style=\"font-weight: 400;\">Quick Ratio<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The quick ratio is slightly different than the current ratio as it considers those liquidities that can be quickly converted into cash.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Average Collection Period Ratio<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The average period that a company takes to collect all its receivables is known as the average collection period ratio. This ratio allows a business to get a better idea about its cash flow and plan a strategic business plan accordingly.<\/span><\/p>\n<p><b>Formula: \u201c365 days \u00f7 Average Receivable Turnover Ratio = Average Collection Period Ratio\u201d<\/b><\/p>\n<h3><span style=\"font-weight: 400;\">Inventory Turnover Ratio<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The inventory turnover ratio shows how well a company is using its inventory and the number of inventories it is selling within a particular period.\u00a0<\/span><\/p>\n<p><b>Formula: \u201cCost of Sold Goods \u00f7 Avetage Inventory at Selling Price = Inventory Turnover Ratio\u201d<\/b><\/p>\n<h2><span style=\"font-weight: 400;\">Things that can Influence the Performance of Working Capital Management<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">It is important to have efficient working capital management that can easily optimise the cash flow of a company so that it can run without any external hindrance. However, certain factors can highly influence the performance of working capital management. These factors are:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Scale of Operation<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The scale of operation is one of the first factors that have a direct influence on the working capital of a company. A small-scale working capital is required if a company is working on a small-scale operation. On the other hand, if a company is working on a large-scale operation then it requires a large-scale working capital.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Production Cycle<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The next factor that has a high influence on working capital is the production cycle. For a long production cycle, a company will require less working capital which is in the form of raw materials or inventories or semi-finished products. In a shorter production cycle, a company will require less working capital if it is compared to a longer production cycle.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Business Cycle<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The third factor that has a direct impact on the working capital is the business cycle. When there is a rapid economic boom, the sales of the finished products rise along with the working capital of a country. Similarly, when the economy of a country is facing recession the sales of the finished products go down along with the working capital of a company.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Accessibility of Raw Material<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The last factor that has a direct influence on working capital is the accessibility of raw materials. When there are sufficient raw materials then a company does not need a huge working capital. However, if there is a crisis of raw material then very little working capital will be required by a company if it is compared with the normal situation.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">How can Working Capital Management work Effectively?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">For efficient working capital management, a company has to plan out successful strategies that will work without any failure. Here are some of the strategies that a company has to follow for successful working capital management:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Financial Analysis<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">For efficient working capital management, a company should schedule financial analysis either in a monthly interval or a yearly interval. This analysis will allow a company to understand where it&#8217;s making financial mistakes and this will allow a company to grow further. A financial analysis monitors the patterns of inventory, accounts payable, and accounts receivable.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tracking these patterns and analysing these insights help a company to create strategic financial as well as working capital plans for the next financial year.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">A Good Inventory Management<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Good inventory management is another strategic measure that a company can take for efficient working capital management. This helps a company maintain an optimal level of inventory. This management helps a company reduce the capital that is required for extra storage and works on better customer satisfaction.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Performance Indicators<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Performance indicators or KPIs are also important for efficient working capital management. It tracks the company\u2019s accounts receivable, accounts payable, and inventory so that the indicators can tell which areas need to be improved and what strategies should be followed for better performance.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Continuous Supervision<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">A company must supervise its capital daily to achieve good working capital management. Supervision and reviewing allow a company to comprehend the capital position and identify the potential threats. The company must immediately take action against the threat before it becomes a huge economic risk.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Continuous supervision also allows a company to achieve all its financial objectives for the current financial year.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Terms with Suppliers<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Negotiating the terms with suppliers also allows a company to have efficient working capital management. If a company can negotiate its terms with the suppliers then it will have more capital that can be used for immediate important operations.<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">Conclusion<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">For a small company, it is extremely crucial to make a <a href=\"https:\/\/imarticus.org\/blog\/investment-and-financial-decisions-for-senior-management\/\">strategic financial decision<\/a> on working capital, hence working capital management is extremely essential in such a competitive market. This decision has an impact on the finances and growth of a company. Hence, companies are actively hiring senior managers who can easily manage the working capital.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A solid <\/span><span style=\"font-weight: 400;\">senior management certification program<\/span><span style=\"font-weight: 400;\">me can help you learn how to effectively manage working capital and other crucial financial management skills.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To commence a career as a senior manager you can enrol yourself in the new online<\/span><span style=\"font-weight: 400;\"> senior management course<\/span><span style=\"font-weight: 400;\"> launched by <\/span><span style=\"font-weight: 400;\">Imarticus Learning<\/span><span style=\"font-weight: 400;\">. This is a<\/span><span style=\"font-weight: 400;\"> collaboration with IIM Lucknow<\/span><span style=\"font-weight: 400;\">, where you can learn this course under the guidance of an experienced faculty. So without any further delay join this course to bag alluring opportunities and facilities.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Working capital is one of the most important aspects of a business. In recent years the world has witnessed surging growth in the development of large-scale and small-scale companies. These companies have faced numerous challenges in gathering formal credit for their working capital and tracking the cash flow. These factors have affected the growth of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":265747,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_mo_disable_npp":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[4770,4518],"tags":[],"class_list":["post-263536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-iiml-smp","category-pillar-pages"],"acf":[],"aioseo_notices":[],"modified_by":"Imarticus Learning","_links":{"self":[{"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/posts\/263536","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/comments?post=263536"}],"version-history":[{"count":6,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/posts\/263536\/revisions"}],"predecessor-version":[{"id":265748,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/posts\/263536\/revisions\/265748"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/media\/265747"}],"wp:attachment":[{"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/media?parent=263536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/categories?post=263536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/tags?post=263536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}