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The Small Business Controller by Richard O. Hanson

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Chapter 8

Short-Term Financial Planning

As noted previously, a company can have profitable operations and still be unable to pay its obligations in a timely manner. A major change in the working capital items (current assets and current liabilities) of the business may create this situation. This chapter focuses on short-term financial planning, including managing accounts payable vendors; different types of company commitment agreements, including certificates of insurance, sales and use tax exemption certificates; volume purchase guarantees; the Uniform Commercial Code (UCC) and security agreements; and inventory returns and restocking charges.

The Need for Additional Working Capital

As a company grows and increases its sales volume, chances ...

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