Cash Is The Life-Blood Of Any Business And Without It Survival Is Very Unlikely.
Cash is the life-blood of any business and without it survival is very unlikely. Cash is normally regarded as "just an asset that a business needs to help it to function (Atrill & McLaney, 2004, p. 124)." Though this is true, cash is also one of the essential elements needed for a business to grow and prosper. The reason why cash is so important is because "people and organisations will not normally accept other than cash in settlement of their claims against the business. If a business wants to employ people it must pay them in cash (Atrill & McLaney, 2004, p. 124)." If a business doesn't have enough cash to pay its employees and suppliers, such a business will not prosper, and it would not take long before such a business ultimately fails.
Cash is needed by every business to pay its bills and to pay off its liabilities on time so that it can survive. For this reason, it is very important for every business to monitor its cash flow in order to adequately plan expenditures.......
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