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Cash flow forecasting is a perpetual problem area for financial executives and their staffs. They often question the reliability of their forecasts, even as they use them for important financial decisionsfrom handling current cash needs to financing longer-term projects. Now, help is here! In his new book, Ken Parkinson shows you how to set up a cash flow forecasting system that handles everything from daily to yearly forecasting using Microsoft Excel worksheets. You don't need a statistical background or an elaborate software package. "I have been in cash management for 55 years. At last, we have a book that enables the readers to understand and tackle the task of cash flow forecasting for their companies." Norm Appelman Forecasting as technique Organizations of all sizes and in all industries benefit from good, efficient cash flow forecasting. However, many ignore the fundamentals that are explained in this book. For example, many forecasting systems dont work well because they focus only on the cash balance, ignoring cash flows. A successful cash flow forecasting system integrates the daily, weekly, and monthly forecasts into one system. By linking shorter-term forecasts to longer-term forecasts, financial managers can monitor cash levels, time their investments and borrowings more efficiently, and plan for future needs with confidence. In this book, Ken Parkinson shows you how to develop daily, weekly, monthly and longer-term forecasts. He explains the uses of the various forecasts, why they are important, and how to customize them for your organization. And he makes the book even more useful by showing you how to use variance analysis to improve your forecasts over time. More than 30 spreadsheet exhibits allow you to follow the text, step by step. "This small text is an easy read, yet filled with straight forward and easy-to-find solutions to cash forecasting problems. Whether the reader is a seasoned cash manager or a CFO looking for a solution to a newly identified cash forecasting problem, this book is a must.... I recommend it to everyone who wishes to profess a working knowledge of cash management." Karl E. Rapp Treasurer and Manager of Accounts Payable, Travel, and Treasury Babcock & Wilcox Y-12, LLC Forecasting as art Forecasting is not easy if you do not spend enough time learning about the interaction of various financial and nonfinancial systems and the information demands of your environment. People can make or break your forecast. The more you depend on others to supply needed data, the more you need their cooperation and good communications. Very few effective short- or medium-term cash flow forecasts can be created entirely within treasury. Throughout the book, Ken Parkinson includes ways to improve the data you collect from your sources. He discusses finding better data sources, how to counteract hostility and enlist cooperation from different departments, how to determine what data is sufficient and how to find logical alternatives. His suggestions are practical and useful because they come from experience.

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