QUESTIONS TO ASK YOUR CPA ABOUT CASH MANAGEMENT
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What kind of
check-writing controls should I have in place to prevent
employees from misusing company funds? How can I help
protect myself against embezzlement or other unauthorized
use of funds? How do I
prepare cash flow statements, and how do I use them as
management tools? What can I do
to maximize the interest income from my business bank
accounts? Should I have
large compensating balances in the bank, or am I better off
paying higher banking fees and reducing my compensating
balances? How do I
determine my breakeven point? Why is this critical? What
steps can I take to lower the breakeven
point? What are five
good ways to reduce my company's operating
costs? Do I need a
credit policy? What should it cover and how do I set it
up? How can I
speed-up the collection of receivables? Should I offer
discounts for prompt payment? When should I
write off a receivable as a bad debt? Is it worth taking the
customer to court? At what point
should I cut off delinquent accounts from additional credit
purchases? Are there ways
of maintaining marginal-credit accounts as customers without
accepting undue risks of non-payment? When paying my
company's bills, should I take advantage of early payment
discounts or pay late and use the float? When should I
consider putting my company into Chapter 11? What are the
major benefits and drawbacks?