Cash Management

Cash management is one of the major concerns in a company's day-to-day operations. Indeed, a company must manage the various cash outflows and inflows resulting from its operating, financial, and investment activities. The ideal is to maintain a zero cash balance. In reality, however, cash flow is either in surplus or in deficit. Hence the value of this book, which aims to outline the steps a business should take to achieve financial balance. Starting with the concept of working capital, the book presents financial planning techniques based on budgeting, before moving on to the preparation of a consolidated cash flow budget. This cash flow statement must first be balanced before it is analyzed from a very short-term perspective to optimize it on a day-to-day basis. Finally, cash flow analysis in an international context is essential for managing foreign exchange risk. This book is intended for undergraduate and graduate students in finance. It is also intended for cash management practitioners and chief financial officers.