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href="../25471/glossary-organizational-structure.html" title="Glossary: Organizational structure">Glossary: Organizational structure</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21755/23-leadership-and-management.html" title="2.3 Leadership and management">2.3 Leadership and management</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24733/glossary-leadership-management.html" title="Glossary: Leadership & Management">Glossary: Leadership & Management</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../24745/24-motivation.html" title="2.4 Motivation">2.4 Motivation</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24719/glossary-motivation.html" title="Glossary: Motivation">Glossary: Motivation</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21757/25-organizational-culture-hl-only.html" title="2.5 Organizational culture (HL only)">2.5 Organizational culture (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25243/glossary-organizational-culture.html" title="Glossary: Organizational culture">Glossary: Organizational culture</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21758/26-industrialemployee-relations-hl-only.html" title="2.6 Industrial/employee relations (HL only)">2.6 Industrial/employee relations (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25125/glossary-industrialemployee-relations.html" title="Glossary: Industrial/employee relations">Glossary: Industrial/employee relations</a></li></ul></ul><li class="ancestor parent" style="padding-left: 14px"><i class="expander fa fa-caret-right fa-rotate-90"></i><a class="" href="../21670/unit-3.html" title="Unit 3">Unit 3</a></li><ul class="level-2 expanded"><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21744/31-sources-of-finance.html" title="3.1 Sources of finance">3.1 Sources of finance</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24501/glossary-sources-of-finance.html" title="Glossary: Sources of finance">Glossary: Sources of finance</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21745/32-costs-and-revenues.html" title="3.2 Costs and revenues">3.2 Costs and revenues</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22092/glossary-costs-revenues.html" title="Glossary: Costs & revenues">Glossary: Costs & revenues</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21746/33-break-even-analysis.html" title="3.3 Break-even analysis">3.3 Break-even analysis</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22270/contribution-analysis.html" title="Contribution analysis">Contribution analysis</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22093/glossary-break-even-analysis.html" title="Glossary: Break-even analysis">Glossary: Break-even analysis</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21747/34-final-accounts.html" title="3.4 Final accounts">3.4 Final accounts</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31367/glossary-final-accounts.html" title="Glossary: Final accounts">Glossary: Final accounts</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21748/35-profitability-and-liquidity-ratio-analysis.html" title="3.5 Profitability and liquidity ratio analysis">3.5 Profitability and liquidity ratio analysis</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25111/glossary-profitability-and-liquidity-ratio-analysis.html" title="Glossary: Profitability and liquidity ratio analysis">Glossary: Profitability and liquidity ratio analysis</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21749/36-efficiency-ratio-analysis-hl-only.html" title="3.6 Efficiency ratio analysis (HL only)">3.6 Efficiency ratio analysis (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25114/glossary-efficiency-ratios.html" title="Glossary: Efficiency ratios">Glossary: Efficiency ratios</a></li></ul><li class="ancestor parent" style="padding-left: 28px"><i class="expander fa fa-caret-right fa-rotate-90"></i><a class="" href="../21750/37-cash-flow.html" title="3.7 Cash flow">3.7 Cash flow</a></li><ul class="level-3 expanded"><li class="current" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="cash-flow-forecasts.html" title="Cash flow forecasts">Cash flow forecasts</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31376/glossary-cash-flow.html" title="Glossary: Cash flow">Glossary: Cash flow</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21751/38-investment-appraisal.html" title="3.8 Investment appraisal">3.8 Investment appraisal</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31377/glossary-investment-appraisal-.html" title="Glossary: Investment appraisal ">Glossary: Investment appraisal </a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21752/39-budgets-hl-only.html" title="3.9 Budgets (HL only)">3.9 Budgets (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31378/39-budgets-hl-only-glossary.html" title="3.9 Budgets (HL Only) Glossary">3.9 Budgets (HL Only) Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21684/unit-4.html" title="Unit 4">Unit 4</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21767/41-the-role-of-marketing.html" title="4.1 The role of marketing">4.1 The role of marketing</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25618/glossary-the-role-of-marketing.html" title="Glossary: The role of marketing">Glossary: The role of marketing</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21768/42-marketing-planning.html" title="4.2 Marketing planning">4.2 Marketing planning</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../28328/glossary-marketing-planning.html" title="Glossary: Marketing planning">Glossary: Marketing planning</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21769/43-sales-forecasting-hl-only.html" title="4.3 Sales forecasting (HL only)">4.3 Sales forecasting (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25713/glossary-sales-forecasting.html" title="Glossary: Sales forecasting">Glossary: Sales forecasting</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21713/44-market-research.html" title="4.4 Market research">4.4 Market research</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25208/glossary-market-research.html" title="Glossary: Market research">Glossary: Market research</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21770/45-the-four-ps.html" title="4.5 The four Ps">4.5 The four Ps</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Product">Product</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../22627/glossary-product.html" title="Glossary: Product">Glossary: Product</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22525/price.html" title="Price">Price</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../22548/glossary-price.html" title="Glossary: Price">Glossary: Price</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22567/promotion.html" title="Promotion">Promotion</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../22704/45-promotion-glossary.html" title="4.5 Promotion - Glossary">4.5 Promotion - Glossary</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22745/place.html" title="Place">Place</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../23813/45-place-glossary.html" title="4.5 Place - Glossary">4.5 Place - Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21774/46-the-extended-marketing-mix-7-ps-hl.html" title="4.6 The extended marketing mix (7 Ps) (HL)">4.6 The extended marketing mix (7 Ps) (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../23814/glossary-the-extended-marketing-mix-hl.html" title="Glossary: The extended marketing mix (HL)">Glossary: The extended marketing mix (HL)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21772/47-international-marketing-hl-only.html" title="4.7 International marketing (HL only)">4.7 International marketing (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../23815/glossary-international-marketing-hl.html" title="Glossary: International Marketing (HL)">Glossary: International Marketing (HL)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21773/48-e-commerce.html" title="4.8 E-commerce">4.8 E-commerce</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../23797/glossary-e-commerce.html" title="Glossary: E-commerce">Glossary: E-commerce</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21688/unit-5.html" title="Unit 5">Unit 5</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21937/51-the-role-of-operations-management.html" title="5.1 The role of operations management">5.1 The role of operations management</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24843/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21938/52-production-methods.html" title="5.2 Production methods">5.2 Production methods</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24848/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21939/53-lean-production-quality-management-hl.html" title="5.3 Lean production & quality management (HL)">5.3 Lean production & quality management (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24839/glossary-lean-production-and-quality-management.html" title="Glossary: Lean Production and quality management">Glossary: Lean Production and quality management</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21700/54-location.html" title="5.4 Location">5.4 Location</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24959/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21695/55-production-planning-hl.html" title="5.5 Production planning (HL)">5.5 Production planning (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25032/glossary-production-planning.html" title="Glossary: Production planning">Glossary: Production planning</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../33222/56-research-development-hl.html" title="5.6 Research & development (HL)">5.6 Research & development (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../34014/glossary-research-development.html" title="Glossary: Research & Development">Glossary: Research & Development</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21941/57-crisis-management-contingency-planning-hl.html" title="5.7 Crisis management & contingency planning (HL)">5.7 Crisis management & contingency planning (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25042/glossary.html" title="Glossary">Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../25115/cuegis.html" title="CUEGIS">CUEGIS</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="The 6 CUEGIS concepts">The 6 CUEGIS concepts</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Ethics">Ethics</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../21954/mcdonalds-supersize-me.html" title="McDonald's - Supersize Me">McDonald's - Supersize Me</a></li></ul></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="The CUEGIS essay">The CUEGIS essay</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22876/planning-your-cuegis-essay.html" title="Planning your CUEGIS essay">Planning your CUEGIS essay</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../33806/paper-2-section-c-questions.html" title="Paper 2 Section C Questions">Paper 2 Section C Questions</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../33959/the-ia.html" title="The IA">The IA</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="HL IA">HL IA</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22190/35-sample-research-questions-for-the-hl-ia.html" title="35 sample research questions for the HL IA">35 sample research questions for the HL IA</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22200/hl-ia-student-checklist.html" title="HL IA - Student Checklist">HL IA - Student Checklist</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../33508/ia-hl-poster.html" title="IA HL Poster">IA HL Poster</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="SL IA">SL IA</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22146/sl-ia-20-sample-titles.html" title="SL IA - 20 Sample Titles">SL IA - 20 Sample Titles</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38181/faq-about-the-sl-ia.html" title="FAQ about the SL IA">FAQ about the SL IA</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../22114/exams.html" title="Exams">Exams</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../22115/command-terms.html" title="Command Terms">Command Terms</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../36599/glossary-of-key-terms.html" title="Glossary of key terms">Glossary of key terms</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../38059/flashcards-revision.html" title="Flashcards - Revision">Flashcards - Revision</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38060/flashcards-revision-unit-1.html" title="Flashcards - Revision (Unit 1)">Flashcards - Revision (Unit 1)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38056/unit-11-revision-flashcards.html" title="Unit 1.1 Revision Flashcards">Unit 1.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38061/unit-12-revision-flashcards.html" title="Unit 1.2 Revision Flashcards">Unit 1.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38067/unit-13-revision-flashcards.html" title="Unit 1.3 Revision Flashcards">Unit 1.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38092/unit-14-revision-flashcards.html" title="Unit 1.4 Revision Flashcards">Unit 1.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38096/unit-15-revision-flashcards.html" title="Unit 1.5 Revision Flashcards">Unit 1.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38102/unit-16-revision-flashcards.html" title="Unit 1.6 Revision Flashcards">Unit 1.6 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38103/unit-17-revision-flashcards.html" title="Unit 1.7 Revision Flashcards">Unit 1.7 Revision Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38114/flashcards-revision-unit-2.html" title="Flashcards - Revision (Unit 2)">Flashcards - Revision (Unit 2)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38121/unit-21-revision-flashcards.html" title="Unit 2.1 Revision Flashcards">Unit 2.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38125/unit-22-revision-flashcards.html" title="Unit 2.2 Revision Flashcards">Unit 2.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38126/unit-23-revision-flashcards.html" title="Unit 2.3 Revision Flashcards">Unit 2.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38144/unit-24-revision-flashcards.html" title="Unit 2.4 Revision Flashcards">Unit 2.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38146/unit-25-revision-flashcards.html" title="Unit 2.5 Revision Flashcards">Unit 2.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38147/unit-26-revision-flashcards-hl-only.html" title="Unit 2.6 Revision Flashcards (HL only)">Unit 2.6 Revision Flashcards (HL only)</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38149/flashcards-revision-unit-3.html" title="Flashcards - Revision (Unit 3)">Flashcards - Revision (Unit 3)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38153/unit-31-revision-flashcards.html" title="Unit 3.1 Revision Flashcards">Unit 3.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38154/unit-32-revision-flashcards.html" title="Unit 3.2 Revision Flashcards">Unit 3.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38182/unit-33-revision-flashcards.html" title="Unit 3.3 Revision Flashcards">Unit 3.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38183/unit-34-revision-flashcards.html" title="Unit 3.4 Revision Flashcards">Unit 3.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38191/unit-35-revision-flashcards.html" title="Unit 3.5 Revision Flashcards">Unit 3.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38192/unit-36-revision-flashcards-hl.html" title="Unit 3.6 Revision Flashcards (HL)">Unit 3.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38193/unit-37-revision-flashcards.html" title="Unit 3.7 Revision Flashcards">Unit 3.7 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38194/unit-38-revision-flashcards.html" title="Unit 3.8 Revision Flashcards">Unit 3.8 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38195/unit-39-revision-flashcards.html" title="Unit 3.9 Revision Flashcards">Unit 3.9 Revision Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38196/flashcards-revision-unit-4.html" title="Flashcards - Revision (Unit 4)">Flashcards - Revision (Unit 4)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38198/unit-41-revision-flashcards.html" title="Unit 4.1 Revision Flashcards">Unit 4.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38203/unit-42-revision-flashcards.html" title="Unit 4.2 Revision Flashcards">Unit 4.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38217/unit-43-revision-flashcards.html" title="Unit 4.3 Revision Flashcards">Unit 4.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38218/unit-44-revision-flashcards.html" title="Unit 4.4 Revision Flashcards">Unit 4.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38219/unit-45a-product-revision-flashcards.html" title="Unit 4.5a Product Revision Flashcards">Unit 4.5a Product Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38220/unit-45b-price-revision-flashcards.html" title="Unit 4.5b Price Revision Flashcards">Unit 4.5b Price Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38221/unit-45c-promotion-revision-flashcards.html" title="Unit 4.5c Promotion Revision Flashcards">Unit 4.5c Promotion Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38222/unit-45d-promotion-revision-flashcards.html" title="Unit 4.5d Promotion Revision Flashcards">Unit 4.5d Promotion Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38223/unit-46-revision-flashcards-hl.html" title="Unit 4.6 Revision Flashcards (HL)">Unit 4.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38224/unit-47-revision-flashcards-hl.html" title="Unit 4.7 Revision Flashcards (HL)">Unit 4.7 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38225/unit-48-e-commerce-flashcards.html" title="Unit 4.8 E-commerce Flashcards">Unit 4.8 E-commerce Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38232/flashcards-revision-unit-5.html" title="Flashcards - Revision (Unit 5)">Flashcards - Revision (Unit 5)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38233/unit-51-revision-flashcards.html" title="Unit 5.1 Revision Flashcards">Unit 5.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38234/unit-52-revision-flashcards.html" title="Unit 5.2 Revision Flashcards">Unit 5.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38235/unit-53-revision-flashcards-hl.html" title="Unit 5.3 Revision Flashcards (HL)">Unit 5.3 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38236/unit-54-revision-flashcards.html" title="Unit 5.4 Revision Flashcards">Unit 5.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38237/unit-55-revision-flashcards-hl.html" title="Unit 5.5 Revision Flashcards (HL)">Unit 5.5 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38238/unit-56-revision-flashcards-hl.html" title="Unit 5.6 Revision Flashcards (HL)">Unit 5.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38239/unit-57-revision-flashcards-hl.html" title="Unit 5.7 Revision Flashcards (HL)">Unit 5.7 Revision Flashcards (HL)</a></li></ul></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../33830/formulae-quiz.html" title="Formulae Quiz">Formulae Quiz</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Paper 1 Pre-release case study">Paper 1 Pre-release case study</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44969/n22-case-study-ele-plc.html" title="N22 Case Study (ELE PLC)">N22 Case Study (ELE PLC)</a></li><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="M22 (Peacewick Uni)">M22 (Peacewick Uni)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../44106/additional-exam-questions-paper-1.html" title="Additional exam questions (Paper 1)">Additional exam questions (Paper 1)</a></li></ul><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../32840/may-2020-p-s-trawlers.html" title="May 2020 (P&S Trawlers)">May 2020 (P&S Trawlers)</a></li><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="M23 Paper 1">M23 Paper 1</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../47825/paper-1-svt-study-guide-shirin-karimi.html" title="Paper 1 SVT Study Guide (Shirin Karimi)">Paper 1 SVT Study Guide (Shirin Karimi)</a></li></ul></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../26095/exam-study-tips-resources.html" title="Exam & Study tips (resources)">Exam & Study tips (resources)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../31342/revision-exams-top-tips.html" title="Revision & Exams - Top tips">Revision & Exams - Top tips</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../47460/top-tips-for-m23-exams.html" title="Top Tips for M23 Exams">Top Tips for M23 Exams</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43522/unit-1-intro-to-bm.html" title="Unit 1 - Intro to BM">Unit 1 - Intro to BM</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44034/11-what-is-a-business.html" title="1.1 What is a business?">1.1 What is a business?</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399681.html" title="1.2 Types of business entities">1.2 Types of business entities</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44041/13-business-objectives.html" title="1.3 Business objectives">1.3 Business objectives</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44044/14-stakeholders.html" title="1.4 Stakeholders">1.4 Stakeholders</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44045/15-growth-and-evolution.html" title="1.5 Growth and evolution">1.5 Growth and evolution</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44046/16-multinational-companies.html" title="1.6 Multinational companies">1.6 Multinational companies</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43530/unit-2-hrm.html" title="Unit 2 - HRM">Unit 2 - HRM</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44253/21-introduction-to-hrm.html" title="2.1 Introduction to HRM">2.1 Introduction to HRM</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44256/role-of-hrm.html" title="Role of HRM">Role of HRM</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44257/factors-that-influence-hr-planning.html" title="Factors that influence HR planning">Factors that influence HR planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44282/reasons-for-resistance-to-change.html" title="Reasons for resistance to change">Reasons for resistance to change</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44283/hr-strategies-for-reducing-the-impact-of-change-resistance-to-ch.html" title="HR strategies for reducing the impact of change & resistance to change">HR strategies for reducing the impact of change & resistance to change</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45458/21-true-or-false-quiz.html" title="2.1 True or False quiz">2.1 True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43677/21-glossary-of-key-terms.html" title="2.1 Glossary of key terms">2.1 Glossary of key terms</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43875/22-organizational-structure.html" title="2.2 Organizational structure">2.2 Organizational structure</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44338/23-leadership-and-management.html" title="2.3 Leadership and management">2.3 Leadership and management</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45462/23-true-or-false-quiz.html" title="2.3 True or False Quiz">2.3 True or False Quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43829/24-motivation-and-demotivation.html" title="2.4 Motivation and demotivation">2.4 Motivation and demotivation</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44371/types-of-training.html" title="Types of training">Types of training</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44390/25-organizational-corporate-culture-hl.html" title="2.5 Organizational (corporate) culture (HL)">2.5 Organizational (corporate) culture (HL)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44247/26-communication.html" title="2.6 Communication">2.6 Communication</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43545/unit-3-finance.html" title="Unit 3 - Finance">Unit 3 - Finance</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44435/31-introduction-to-finance.html" title="3.1 Introduction to finance">3.1 Introduction to finance</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44431/31-introduction-to-finance-role-of-finance.html" title="3.1 Introduction to finance - role of finance">3.1 Introduction to finance - role of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45634/31-glossary-of-key-term.html" title="3.1 Glossary of key term">3.1 Glossary of key term</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44436/32-sources-of-finance.html" title="3.2 Sources of finance">3.2 Sources of finance</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44437/internal-sources-of-finance.html" title="Internal sources of finance">Internal sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44450/external-sources-of-finance.html" title="External sources of finance">External sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44479/appropriateness-of-sources-of-finance.html" title="Appropriateness of sources of finance">Appropriateness of sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45483/32-true-or-false-quiz.html" title="3.2 True or False Quiz">3.2 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43688/32-glossary-of-key-terms.html" title="3.2 Glossary of key terms">3.2 Glossary of key terms</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44486/33-costs-and-revenues.html" title="3.3 Costs and revenues">3.3 Costs and revenues</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44492/34-final-accounts.html" title="3.4 Final accounts">3.4 Final accounts</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44593/35-profitability-liquidity-ratio-analysis.html" title="3.5 Profitability & liquidity ratio analysis">3.5 Profitability & liquidity ratio analysis</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44627/36-efficiency-ratio-analysis-hl-only.html" title="3.6 Efficiency ratio analysis (HL only)">3.6 Efficiency ratio analysis (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44493/37-cash-flow.html" title="3.7 Cash flow">3.7 Cash flow</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44515/38-investment-appraisal.html" title="3.8 Investment appraisal">3.8 Investment appraisal</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44519/net-present-value-npv-hl.html" title="Net present value (NPV) (HL)">Net present value (NPV) (HL)</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44564/39-budgets-hl.html" title="3.9 Budgets (HL)">3.9 Budgets (HL)</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43547/unit-4-marketing.html" title="Unit 4 - Marketing">Unit 4 - Marketing</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44637/41-introduction-to-marketing.html" title="4.1 Introduction to marketing">4.1 Introduction to marketing</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43823/42-marketing-planning.html" title="4.2 Marketing planning">4.2 Marketing planning</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44660/43-sales-forecasting-hl.html" title="4.3 Sales forecasting (HL)">4.3 Sales forecasting (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44669/benefits-limitations-of-sales-forecasting.html" title="Benefits & limitations of sales forecasting">Benefits & limitations of sales forecasting</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44679/44-market-research.html" title="4.4 Market research">4.4 Market research</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44680/why-how-organizations-carry-out-market-research.html" title="Why & how organizations carry out market research">Why & how organizations carry out market research</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44720/45-the-seven-ps-of-the-marketing-mix.html" title="4.5 The seven Ps of the marketing mix">4.5 The seven Ps of the marketing mix</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44740/451-product.html" title="4.5.1 Product">4.5.1 Product</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44782/453-promotion.html" title="4.5.3 Promotion">4.5.3 Promotion</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44697/46-international-marketing-hl.html" title="4.6 International marketing (HL)">4.6 International marketing (HL)</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43565/unit-5-operations-mgt.html" title="Unit 5 - Operations Mgt">Unit 5 - Operations Mgt</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44817/51-introduction-to-operations-management.html" title="5.1 Introduction to operations management">5.1 Introduction to operations management</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44812/52-operations-methods.html" title="5.2 Operations methods">5.2 Operations methods</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44861/53-lean-production-quality-management-hl.html" title="5.3 Lean production & quality management (HL)">5.3 Lean production & quality management (HL)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44840/55-break-even-analysis.html" title="5.5 Break-even analysis">5.5 Break-even analysis</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44890/56-production-planning-hl.html" title="5.6 Production planning (HL)">5.6 Production planning (HL)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45242/57-crisis-management-contingency-planning-hl.html" title="5.7 Crisis management & contingency planning (HL)">5.7 Crisis management & contingency planning (HL)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45669/59-management-information-systems-hl.html" title="5.9 Management Information Systems (HL)">5.9 Management Information Systems (HL)</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43603/exams.html" title="Exams">Exams</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43740/command-terms.html" title="Command terms">Command terms</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45612/glossary-of-key-terms.html" title="Glossary of key terms">Glossary of key terms</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../33955/the-core.html" title="The Core">The Core</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="The EE">The EE</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../32857/ee-planning-form.html" title="EE Planning form">EE Planning form</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../37390/managing-the-ee-process.html" title="Managing the EE process">Managing the EE process</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa 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<div id="main-column" class="span9"> <article id="cash-flow-forecasts" style="margin-top: 16px;">
<h1 class="section-title">Cash flow forecasts</h1>
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<div class="panel panel-has-footer" style="box-shadow: rgba(17, 0, 51, 0.3) 0px 10px 30px -15px; border-color: rgb(61, 30, 128);"><div class="panel-heading" style="background-color: rgb(61, 30, 128);"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><span style="font-family:arial,helvetica,sans-serif;">Cash flow forecasts (AO2, AO4)</span></p></div></div><div class="panel-body"><div><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="190" src="../../../ib/businessmanagement/images/cash3.jpg" width="285"></span></p></div></div><div class="panel-footer" style="background-color: rgb(247, 245, 250);"><div><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Cash flow </strong>refers to the movement of money in and out of an organization.<strong> Cash flow forecasting</strong> is a quantitative technique used by business managers to predict how cash is likely to flow into and out of the organization for a particular period of time, such as for the next twelve months.</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Cash flow forecasting i</strong>s a management tool used to monitor an organization’s cash flows in order to avoid liquidity problems. Knowing in advance when the business is likely to face a period of cash shortages (or a liquidity problem) can help it to plan accordingly so that it can continue to operate.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">A <strong>liquidity problem</strong> occurs when there is a lack of cash in the organization because its cash inflow is less than its cash outflow, i.e. it experiences negative net cash flow.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Examples of cash inflows include:</span></p><ul class="branded"><li><span style="font-family:arial,helvetica,sans-serif;">Cash used by customers to pay for the sale of goods and services</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Bank overdrafts and/or bank loans</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Capital injections from the owners of the business</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Payments made to the business from its debtors</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Government grants and/or subsidies</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Cash injection from sponsors.</span></li></ul><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">Examples of cash outflows include payments for:</span></p><ul class="branded"><li><span style="font-family:arial,helvetica,sans-serif;">Rent of premises</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Purchasing raw materials</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Staff wages, salaries and perks (benefits)</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Utility bills, e.g. gas, water, electricity, internet and telephone bills</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Insurance.</span></li></ul><hr class="hidden"><span style="font-family:arial,helvetica,sans-serif;"><strong>Net cash flow</strong> (NCF) is the numerical difference between an organization’s total cash inflows and its total cash outflows, per time period.</span><div class="greenBg"><div><p align="center" style="margin-left:22.5pt;"><span style="font-family:arial,helvetica,sans-serif;"><strong>Net Cash Flow = Cash inflows – Cash outflows</strong></span></p></div></div><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">A positive net cash flow exists if the total cash inflows are greater than the total cash outflows for a given period of time, such as a month or per quarter. A negative net cash flow exists if the total outflows exceed the total inflows for particular time period.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Being able to predict cash flow helps a business with its financial management and decision-making.</span></p><hr class="hidden"><div class="yellowBg"><div><h4><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Key terms</span></span></h4><p><strong>Cash flow </strong>is the movement of money in and out of an organization for a particular period of time, such as for the next six months.</p><p><strong>Cash flow forecasting</strong> is a business management tool used to monitor an organization’s cash flows so that it can operate without liquidity problems.</p><p>A <strong>liquidity problem</strong> occurs when an business has negative net cash flow, i.e. a lack of cash as the firm's cash outflows exceed its cash inflows.</p><p><span style="font-family:arial,helvetica,sans-serif;"></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Net cash flow</strong> (NCF) refers to an organization’s estimated difference between its monthly cash inflows and cash outflows.</span></p></div></div></div></div></div><ul class="branded"></ul><hr class="hidden"><div class="blueBg"><div><h4><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Exam practice question 1</span></span></h4><p><span style="font-family:arial,helvetica,sans-serif;">Explain <strong>two</strong> reasons why a new bakery business is likely to face liquidity problems in its first few months of operation. <em>[4 marks]</em></span></p><section class="tib-hiddenbox"><div><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Possible reasons include a combination of why cash outflows for the bakery business are likely to exceed cash inflows:</span></span></p><ul class="branded"><li><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">A lack of marketing exposure to create sufficient sales revenue at the bakery</span></span></li><li><span style="color:#FF0000;">Inability to attract customers away from well-established supermarkets that provide bakery products</span></li><li><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">High set-up costs which will take several months (at least) to recover once the bakery is operational</span></span></li><li><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Ongoing expenses (such as salaries and rent) may initially exceed cash inflows from new customers.</span></span></li></ul><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><em>Mark as a 2 + 2</em></span></span></p></div></section></div></div><hr class="hidden"><h3><span style="font-family:arial,helvetica,sans-serif;">Calculating cash flow forecasts</span></h3><p><span style="font-family:arial,helvetica,sans-serif;">To calculate cash flows for each time period, the following are needed:</span></p><ul class="branded"><li><span style="font-family:arial,helvetica,sans-serif;">Opening balance</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Net cash flow</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Closing balance</span></li></ul><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">The <strong>opening balance</strong> in a cash flow forecast refers to the value of cash held by a business at the <em>start</em> of a trading period (usually the beginning of the month).</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Net cash flow</strong> is the numerical difference between an organization’s total cash inflows and its total cash outflows, per time period.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">The <strong>closing balance</strong> in a cash flow forecast refers to the value of cash held by a business at the <em>end</em> of a trading period (usually the final day of the month), which therefore becomes the opening balance for the next time period.</span></p><div class="yellowBg"><div><p align="center" style="margin-left:22.5pt;"><span style="font-family:arial,helvetica,sans-serif;"><strong>Closing balance = Opening balance + Net cash flow</strong></span></p></div></div><hr class="hidden"><div class="yellowBg"><div><h4><span style="font-family:arial,helvetica,sans-serif;">Cash flow forecasting formulae</span></h4><p style="margin-left:9.0pt;"><span style="font-family:arial,helvetica,sans-serif;"></span></p><p style="margin-left:9.0pt;"><span style="font-family:arial,helvetica,sans-serif;"><strong>Net cash flow </strong> = Total cash inflow – Total cash outflow</span></p><p style="margin-left:9.0pt;"><span style="font-family:arial,helvetica,sans-serif;"></span></p><p style="margin-left:9.0pt;"><span style="font-family:arial,helvetica,sans-serif;"><strong>Closing balance</strong> = Opening balance + Net cash flow</span></p><p style="margin-left:9.0pt;"><span style="font-family:arial,helvetica,sans-serif;"></span></p><p style="margin-left:9.0pt;"><span style="font-family:arial,helvetica,sans-serif;"><strong>Opening balance</strong> = Closing balance in previous month</span></p></div></div><hr class="hidden"><div class="greenBg"><div><h4><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Top tip!</span></span></h4><p><span style="font-family:arial,helvetica,sans-serif;">Remember that a <strong>cash flow forecast</strong> (CFF) is different from a <strong>cash flow statement</strong> (CFS). A CFF is a <em>prediction</em> of the cash flows in and out of a business over the foreseeable future. The CFS shows the <em>actual</em> cash inflows and outflows for a specified time period.</span></p></div></div><hr class="hidden"><div class="greyBg"><div><h4><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Exam practice question 2</span></span></h4><p><span style="font-family:arial,helvetica,sans-serif;">The chief accountant of <em>360 Computers</em> has compiled the following financial data: opening balance = $50,000, total cash outflows = $120,000, and total cash inflows = $110,000.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Calculate the closing balance for <em>360 Computers</em>. <em>[2 marks]</em></span></p><section class="tib-hiddenbox"><div><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Net cash flow = $110,000 minus $120,000 = ($10,000)</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Closing balance = $50,000 + ($10,000) = <strong>$40,000</strong></span></span></p><hr class="hidden"><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award<em> 1 mark</em> for showing the working out.</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award <em>1 mark</em> for the correct answer, i.e. $40,000.</span></span></p></div></section></div></div><hr class="hidden"><div class="yellowBg"><div><h4><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#B22222;">Exam practice question 3</span></span></h4><p><span style="font-family:arial,helvetica,sans-serif;"><em>Ortega Football Academy’s </em>cash flow forecast shows a closing balance of $80,000 at the end of this month. Carlos, the finance director, then discovers that debtors of $12,000 have yet to be included and there is an outstanding invoice of $18,000 that needs to be paid. Calculate the closing balance for <em>Ortega Football Academy</em>. <em>[2 marks]</em></span></p><section class="tib-hiddenbox"><div><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Answer</strong></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><em>Ortega Football Academy’s</em> closing balance = $80,000 + $12,000 – $18,000 = <strong>$74,000</strong></span></span></p><hr class="hidden"><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award<em> 1 mark</em> for showing the working out.</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award <em>1 mark</em> for the correct answer, i.e. $74,000.</span></span></p></div></section></div></div><hr class="hidden"><div class="box"><div><h4><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Exam practice question 4</span></span></h4><p><span style="font-family:arial,helvetica,sans-serif;">Refer to the figures below for excerpts from <em>Tonina & Co</em>.<em>’s </em>cash flow statement.</span></p><p><span style="font-family:arial,helvetica,sans-serif;"> Opening balance: $135,500</span></p><p><span style="font-family:arial,helvetica,sans-serif;"> Cash inflow: $532,500</span></p><p><span style="font-family:arial,helvetica,sans-serif;"> Cash outflow: $352,500</span></p><p><span style="font-family:arial,helvetica,sans-serif;">a. Define the term <strong>cash flow statement</strong>. <em>[2 marks]</em></span></p><section class="tib-hiddenbox"><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">A cash flow statement shows the actual cash inflows and outflows of an organization for a specified time period.</span></span></p></section><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">b. Calculate <em>Tonina & Co</em>.<em>’s </em>net cash flow. <em>[2 marks]</em></span></p><section class="tib-hiddenbox"><p><span style="color:#FF0000;">Net cash flow = Cash inflow – Cash outflow</span></p><p><span style="color:#FF0000;">NCF = $532,500 – $352,500 =<strong> $180,000</strong></span></p><p><span style="color:#FF0000;">Award <em>1 mark </em>for the correct answer</span></p><p><span style="color:#FF0000;">Award <em>1 mark</em> for appropriate working out.</span></p></section><hr class="hidden"><p><em>c. </em><span style="font-family:arial,helvetica,sans-serif;">Calculate <em>Tonina & Co</em>.<em>’s </em>closing balance. <em>[2 marks]</em></span></p><section class="tib-hiddenbox"><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Closing balance = Opening balance + Net cash flow</span><span style="font-family:arial,helvetica,sans-serif;"></span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Closing balance = </span></span>$135,500 + $180,000 = <strong>$315,500</strong></span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award <em>1 mark</em> for the correct answer</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award <em>1 mark</em> for appropriate working out.</span></span></p></section></div></div><hr class="hidden"><div class="yellowBg"><div><h4><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Exam practice question 5</span></span></h4><p><span style="font-family:arial,helvetica,sans-serif;">Complete the 3-month cash flow forecast for Mustang & Ford Winery. <em>[4 marks]</em></span></p><table border="0" cellpadding="0" cellspacing="0" width="0"><tbody><tr><td nowrap="nowrap" style="width:164px;height:20px;"><span style="font-family:arial,helvetica,sans-serif;"></span></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>Dec ($)</strong></span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>Jan ($)</strong></span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>Feb ($)</strong></span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;">Sales revenue</span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">8,500</span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"></span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">7,500</span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;">Bank loan</span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">0</span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">4,000</span></p></td><td style="width:64px;height:20px;"><span style="font-family:arial,helvetica,sans-serif;"></span></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Cash inflow</strong></span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"></span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">10,500</span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">7,500</span></p></td></tr><tr><td style="width:164px;height:20px;"><span style="font-family:arial,helvetica,sans-serif;"></span></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"></span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"></span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"></span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;">Cost of goods sold</span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">5100</span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">3900</span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">4500</span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;">Salaries</span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">2000</span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">2000</span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">2000</span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;">Rent</span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">1800</span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">1800</span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">1800</span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;">Other costs</span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"></span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">300</span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">400</span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Cash outflow</strong></span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">9,280</span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">8,000</span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"></span></p></td></tr><tr><td style="width:164px;height:20px;"><span style="font-family:arial,helvetica,sans-serif;"></span></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"></span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"></span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"></span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Net cash flow</strong></span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>-780</strong></span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"></span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>-1,200</strong></span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Opening balance</strong></span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">0</span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">-780</span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">1,720</span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Closing balance</strong></span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"></span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">1,720</span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">520</span></p></td></tr></tbody></table><section class="tib-hiddenbox"><div><h4><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#B22222;">Answer</span></span></h4><p><span style="font-family:arial,helvetica,sans-serif;">Cash flow forecast for Mustang & Ford Winery:</span></p><table border="0" cellpadding="0" cellspacing="0" width="0"><tbody><tr><td nowrap="nowrap" style="width:164px;height:20px;"><span style="font-family:arial,helvetica,sans-serif;"></span></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>Dec ($)</strong></span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>Jan ($)</strong></span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>Feb ($)</strong></span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;">Sales revenue</span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">8,500</span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>6,500</strong></span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">7,500</span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;">Bank loan</span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">0</span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">4,000</span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>0</strong></span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Cash inflow</strong></span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>8,500</strong></span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">10,500</span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">7,500</span></p></td></tr><tr><td style="width:164px;height:20px;"><span style="font-family:arial,helvetica,sans-serif;"></span></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"></span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"></span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"></span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;">Cost of goods sold</span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">5100</span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">3900</span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">4500</span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;">Salaries</span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">2000</span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">2000</span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">2000</span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;">Rent</span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">1800</span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">1800</span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">1800</span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;">Other costs</span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>380</strong></span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">300</span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">400</span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Cash outflow</strong></span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">9,280</span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">8,000</span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>8,700</strong></span></p></td></tr><tr><td style="width:164px;height:20px;"><span style="font-family:arial,helvetica,sans-serif;"></span></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"></span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"></span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"></span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Net cash flow</strong></span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">-780</span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>2,500</strong></span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>-1,200</strong></span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Opening balance</strong></span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">0</span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">-780</span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">1,720</span></p></td></tr><tr><td style="width:164px;height:20px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Closing balance</strong></span></p></td><td style="width:93px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>-780</strong></span></p></td><td style="width:71px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">1,720</span></p></td><td style="width:64px;height:20px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">520</span></p></td></tr></tbody></table><p><span style="font-family:arial,helvetica,sans-serif;">Award <em>1 - 2 marks</em> for an answer that shows some understanding of cash flow forecasting, although there 3 or more errors. Apply the own figure rule (error carried forward), as appropriate.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Award <em>3 - 4 marks</em> for an answer that shows good understanding of cash flow forecasting. For 3 marks, allow up to 1 error. Apply the own figure rule as appropriate.</span></p></div></section></div></div><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">Return to <a href="../21750/37-cash-flow.html" title="Unit 3 » 3.7 Cash flow">3.7 Cash flow</a> homepage</span></p><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">Return to <a href="../21670/unit-3.html" title="Unit 3">Unit 3</a> homepage</span></p><p><a href="https://www.thinkib.net/businessmanagement/"><img alt="" src="../../../ib/businessmanagement/logo-blue-black-1.png" style="width: 170px; height: 54px;"></a></p><script>document.querySelectorAll('.tib-teacher-only').forEach(e => e.remove());</script>
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