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Lecture Fundamentals of financial management (13/e) - Chapter 9: Cash and marketable

After Studying Chapter 9, you should be able to: List and explain the motives for holding cash, understand the purpose of efficient cash management, describe methods for speeding up the collection of accounts receivable and methods for controlling cash disbursements,. | Chapter 9 Cash and Marketable Securities Management © 2001 Prentice-Hall, Inc. Fundamentals of Financial Management, 11/e Created by: Gregory A. Kuhlemeyer, Ph.D. Carroll College, Waukesha, WI Cash and Marketable Securities Management Motives for Holding Cash Speeding Up Cash Receipts S-l-o-w-i-n-g D-o-w-n Cash Payouts Electronic Commerce Cash and Marketable Securities Management Outsourcing Cash Balances to Maintain Investment in Marketable Securities Motives for Holding Cash Transactions Motive -- to meet payments arising in the ordinary course of business Speculative Motive -- to take advantage of temporary opportunities Precautionary Motive -- to maintain a cushion or buffer to meet unexpected cash needs Cash Management System Collections Disbursements Marketable securities investment Control through information reporting = Funds Flow = Information Flow Speeding Up Cash Receipts Expedite preparing and mailing the invoice Accelerate the mailing of payments from customers Reduce the time during which payments received by the firm remain uncollected Collections Collection Float Collection Float: total time between the mailing of the check by the customer and the availability of cash to the receiving firm. Processing Float Availability Float Mail Float Deposit Float Mail Float Mail Float: time the check is in the mail. Customer mails check Firm receives check Processing Float Processing Float: time it takes a company to process the check internally. Firm deposits check Firm receives check Availability Float Availability Float: time consumed in clearing the check through the banking system. Firm deposits check Firm’s bank account credited Deposit Float Deposit Float: time during which the check received by the firm remains uncollected funds. Processing Float Availability Float Earlier Billing Accelerate preparation and mailing of invoices computerized billing invoices included with shipment invoices are faxed advance payment requests preauthorized debits . | Chapter 9 Cash and Marketable Securities Management © 2001 Prentice-Hall, Inc. Fundamentals of Financial Management, 11/e Created by: Gregory A. Kuhlemeyer, Ph.D. Carroll College, Waukesha, WI Cash and Marketable Securities Management Motives for Holding Cash Speeding Up Cash Receipts S-l-o-w-i-n-g D-o-w-n Cash Payouts Electronic Commerce Cash and Marketable Securities Management Outsourcing Cash Balances to Maintain Investment in Marketable Securities Motives for Holding Cash Transactions Motive -- to meet payments arising in the ordinary course of business Speculative Motive -- to take advantage of temporary opportunities Precautionary Motive -- to maintain a cushion or buffer to meet unexpected cash needs Cash Management System Collections Disbursements Marketable securities investment Control through information reporting = Funds Flow = Information Flow Speeding Up Cash Receipts Expedite preparing and mailing the invoice Accelerate the mailing of payments from customers Reduce .