University of Phoenix Cash Management Strategies Discussion Questions

Question Description

I’m stuck on a Accounting question and need an explanation.

 Unfortunately, most firms lack liquidity. To make sure there is sufficient cash flow to meet day-to-day financial needs, financial managers adopt short-term financing methods to raise needed capital to meet debt obligations in time while maximizing profitability through investment with cash surpluses. Respond to the following 

1.Discuss a management strategy used to retain or increase cash

2.Share an example of a time when you’ve used a similar strategy in your personal finances.

3.How are the applications of these strategies similar or different for businesses and individuals?