Cash flow contributors – Know the essential elements of your business

Description

Abstract: The necessity of a strong cash flow is irrefutable, and there are several essential elements of a business that either inform or inhibit the ability to steer clear of cash flow slowdowns. This article discusses the sales and disbursements cycles, up-to-date accounting software to manage cash flow accurately, and the importance of financial statements. For companies that follow Generally Accepted Accounting Principles, a sidebar discusses recent guidance concerning generating financial statements in a more streamlined, cost-efficient manner.