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Essay On Cash Management

710 Words3 Pages

• CASH MANAGEMENT STRATEGY

Every business needs cash; cash is the blood that runs through the veins of every company that keeps the company alive and active. When a company keeps good cash management systems it makes the company healthy and strong. It’s obvious that every good and striving business operate very effectively when there is enough cash flow to cover its liabilities. In operation the use of cash is a clear evidence for transaction, and it’s the essential element for business transaction.

Cash involves any legal tender and any form of generally accepted payment, this includes, coins, currencies, cheques, wire or swift transfers, and automated clearinghouse.

Barry Callebaut as a multinational has a wide and extensive cash management system. Cash management is a …show more content…

Petty Cash-Barry Callebaut as a big company also keeps pettey cash imprest.Imprest are kept fot the day to day running of the factory, Petty cash funds are used for disbursements in relation with approved barry callebaut activity and activities that sole relates to BC Ghana operation, the amount and significance of which are so small as to preclude requesting disbursement by check. The amount of the fund requested is limited to minimum operating requirements this is done to prevent theft of cash.
There are policies set to ensure that this policies are adhered to and this are:
The accounts office is always in consultation with the cashiers office and the accountants is reposnsible for approving and controlling the petty cash funds.
The person with appropriate authorization via his transaction authorization sheet is solely responsible for ensuring that all expenditures taken from the petty cash are in observance with barry callebaut cash policy.
A person can only be responsible for one petty cash fund,and he or she must retire the old one before a new petty cash can be

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