Join Jim Stice for an in-depth discussion in this video Cash management, part of Finance for Non-Financial Managers.
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- So let's begin by talking about cash management,…how to manage the cash we have.…As you can see here, we've got a graph from Toys R Us.…It's their quarterly cash balance from 2002 through 2014.…And you'll notice a pattern here.…It's always lowest in October…and highest at the end of January.…Now why would that be?…Well, if we stop and think about it,…that's Toys R Us busy season.…Well, realize that the holidays…from Thanksgiving through December,…they need cash building up to October…to pay for all that inventory.…
They then receive all their cash in December…and January once that inventory is sold.…So it makes sense in the case of Toys R Us…that they are going to have their lowest cash balance…in October and their highest cash balance in January.…Now, here's the question when it comes to managing cash:…how to make sure they have sufficient in October.…The last thing they wanna do is run out of money.…Second thing is what are they going to do…with the excess that they have in January?…Before we talk about those two options,…
- Interpret financial reports and make decisions based on available data
- Manage inventory and receivables
- Create an accurate budget
- Cost a product or service
- Analyze customers
- Understand your income taxes
- Communicate your contribution to the bottom line
Skill Level Appropriate for all
1. Understanding Finance and Accounting
2. Most Common Financial Reports
3. Techniques for Using Financial Reports
4. Short-Term Financial Management
5. Costing a Product or Service
Drafting a budget4m 59s
7. Income Taxes
Next steps1m 38s
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