Cash Management in Business

Running Head: BUSINESS ACCOUNTING
Business accounting

BUISNESS ACCOUNTING 2
Introduction
This reflection report is imperative to comprehend the experience of mine towards cash
management that is a major section of any business. This report could support to comprehend
many elements like cash, internal cash control types, cash receipts application, bank accounts,
and reconciliation procedure. It also depicts the concepts of cash management, cash
budgeting, and principles of cask management. In last, it demonstrates the adequacy of the
cash flows.
Reflection report
I gained my existing knowledge about the cash management, as it could be imperative any
business. Moreover, I comprehend that that cash is determined as the negotiable instruments
that might be in the form of a cheque and postal note, money, duplicates of a credit card. It
could lead to the organization for effectively operating the business and leads to get a
favorable outcome (Michalski, 2014). I also gained by understanding towards the cash
control that could be effective for the attainment of desire aim and objectives. Cash could
asset that might directly affect the overall business in the least time and cost. In addition, it is
evaluated that the organization could make security and use different policy to secure their
cash flow (Luo and Shang, 2015).
I gained my understanding of methods that are mainly considered by the organization to
control the overall cash flow of the business and reach a valid conclusion. I also gained my
understanding of the different concepts of the internal system that could lead to making the
financial decision. I also enhanced my existing knowledge towards cash receipts that might
be imperative in the management of cash and secure cash of the firm in limited time and cost
(Acosta, et al., 2016). Moreover, I observed that the organization could consider certain
factors named cheque accounts, application of electronic funds transfer, and bank statement. I
understood such factors where I comprehend that electronic fund transfer could secure money