Cash Management: Control, Reconciliation and Risk Strategies

In Business, Cash is King! Poor cash management, bad debts, fraud, and poor investment can increase costs, reduce profits, and increase risk. With effective cash management, the company can ensure that cash balanced are kept to a minimum, surplus cash is invested safety, profitable and international cash payments handled efficiently at reduced risk. This workshop will provide participants with the essential skills to effectively reconcile bank balances and manage all cash and banking issues. By the end of this workshop, participants will be able to

• The importance and methods to reconcile cash and bank balances effectively
• How to forecast, manage and control bank and cash balances and used the best practices polices adopted by leading international companies
• Advance issues relating to multi-currencies and cash shortages and surpluses

Content

Cash Management

• An Overview of Cash Management
• The Optimal Cash Balance
• Reasons for Holding Cash
• Sources of Short-Term Finance
• Short Term Investment Opportunities
• Minimizing Interest Costs and Maximizing Interest Earned

Bank Reconciliation

• What is a Bank Reconciliation Statements?
• The Importance of Bank Reconciliation
• Undertaking a Bank Reconciliation
• Report and Correcting Differences
• Avoiding Future Differences
• Controlling Banks Records and Business

Petty Cash Management

• Forecasting Cash Needs
• Minimizing Cash Holding
• Recording Cash Transactions
• Balancing the Cash Balance
• Dealing with Foreign Currencies and Exchange Rate Risk

Advanced Bank and Cash Management

• Managing Accounts Receivable & Payable
• Minimizing the Cost of Finance
• Bank Finance
• Factoring and Invoice Discounting

Cash Flow – Past and Future

• The Importance if Cash and Liquidity
• Cash Flow Statements
• Cash Forecast and Budgets
• Variance Analysis
• Cash Flow Cycle and Operations Efficiency
• Working Capital

For Whom: Cash Managers/Officers, Cashiers, Treasurers, Controllers, CFO, Directors, Accountants, Auditors, Finance Managers, Finance Managers, and others who perform related functions or who want to update/sharpen their knowledge or skills in cash management and bank reconciliation.