Explain why it would be beneficial to prepare a cash forecast

In your own words, answer this unit’s discussion questions in a main post (recommended minimum 300 words), and respond to at least two peers’ postings (recommended minimum 75 words).

After you have reviewed the Assignment Details below, click the Discussion Board link under the My Work heading above to open the Discussion Board and make your post.

Assignment Details

As you learned in the Connect content, planning for the future is an important role of the financial manager. Developing a financial forecast helps ensure that the financial goals of an organization are met. In particular, cash forecasts are the most important tool for monitoring and controlling corporate cash. Without them, good cash management is simply impossible.

In your discussion this week, consider the budgeting and forecasting content covered in the instructor video and the Connect content, and then discuss the following:

Explain why it would be beneficial to prepare a cash forecast, or a cash budget, for an organization.

Share the best practices you would implement when budgeting for an organization.