The Value of Budgeting in Short-Term Planning

Companies receive cash from their accounts receivable over an extended period of time. It is not uncommon for A/R collections to be spread out over 30 days. However companies must pay their expenses on a much shorter timetable. Employees need to be paid every two weeks and vendors need to be paid in a timely manner too. Cash must be managed in such a way that a company can meet its obligations. All of this must be taken into account for budgeting purposes.
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