(Techniques on how to better manage your cash flow)
This paper is intended for those business owners and managers who wish to master the art of reading and interpreting business financial statements, as a crucial step towards better management performance. Why is this important?
It is widely believed that the single most important reason for business failure – particularly in the early years – is poor financial planning and lack of effective management.
So, how well do you manage the cash resources of your business? Consider the following questions:
- Do you have difficulty paying your bills as they come due?
- Are you spending too much time dealing with angry creditors?
- Do you frequently run negative cash account balances?
- Are you losing sales because of inventory stock-out?
If your answer is yes to any of these questions, we encourage you to read on as we share some useful insights into understanding and interpreting your financial data and developing tools to avoid business failure due to poor cash flow planning and management.