As a newly appointed C.F.O of a company, you have discovered that your company is facing...

As a newly appointed C.F.O of a company, you have discovered that your company
is facing a poor cash flow position, what measures would you implement in order
to establish a strong cash flow position. Recommend with the view of a financial
institution.

Expert Solution

Answer :-

The measures that are need to implement for establishing a strong cash flow position are as follows :-

1. Creating the Budgets :- Always prepare a budget for the expenses Which helps to make the expenses as per the requirements means as per standards.

2. Timely payment policy :- A Timely payment policy helps to receive cash as early as possible. It helps to easily and early recovery of the credits.

3. Managing the level of inventory :- A optimum level of inventiry helps to invest the money at optimum level which also helps to sufficient management of cash

4. Online Billing Tools :- There are also various types of online tools which help in billing. if you use these types of tools in billing these also helps a efficient cash management and stop the misuse of cash.

5. Reduce the expenses or overheads :- For the better cash flow position we need to reduce the overhead expenses of the firm that helps us to save more cash which make the position of cash strong.

6. Proper authorisation of the expenses before payment of cash :- The expenses for which the cash are need to pay are properly authorised and check the validity that also helps to misuse of cash Proper internal controls are to be made on Cash.

jeff jeffy answered 2 years ago

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