Discuss and explain the importance and methods for preparing a financial plan including the five steps in creating a cash budget and the fundamental principles involved in managing the “Big Three” of cash management: accounts receivable, accounts payable, and inventory. Provide an example.
Initial discussion and peer response posts should demonstrate critical thinking skills, engagement, and contain references to textbook readings and supporting outside sources. Initial post should be at least 2 paragraphs in length. Peer responses post should be at least 1-2 paragraphs in length. All posts should be completed using APA formatting.