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Managing Receivables and Payables

In: CFO Techniques

Author

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  • Marina Guzik

Abstract

My grandfather used to say, “Live within your means and don’t spend the money you don’t have in your pocket.” On the surface it may seem like an old-fashioned point of view, but it is essentially the golden rule of liquidity, applicable to individuals and business entities alike. Let’s face it, if everyone lived by this precept, the global credit crunch wouldn’t have happened. Keeping expenses below revenues and collecting receivables before paying bills are two strategies that together guarantee positive cash flow. Of course, it is easier said than done.

Suggested Citation

  • Marina Guzik, 2011. "Managing Receivables and Payables," Springer Books, in: CFO Techniques, chapter 0, pages 161-171, Springer.
    • Handle: RePEc:spr:sprchp:978-1-4302-3757-0_19
    DOI: 10.1007/978-1-4302-3757-0_19
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