The cash budget of a business
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Video Overview
Proper cash management in a business is vital as it will ensure that there are sufficient funds to meet the future cash requirements of the business. The tool that management accountants use to forecast the cash position of the business is the cash budget. A cash budget sets out the opening bank balance, plus the cash inflows, minus the cash outflows to give the closing bank balance for each month the cash budget is drawn up for. In the previous tutorial we learnt how to draw up the schedule of budgeted receipts from debtors. This gives us an important amount on the cash budget, being the cash receipts from debtors. In this tutorial we will cover the cash budget of the business.
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