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Byline: Anthony Harrington
gowiththeflow
With capital at a premium, FDs have to act quickly to get a grasp on cash management and the related risks -- or face being left dead in the water, writes Anthony Harrington
Cash is not by nature an orderly commodity for a large plc. It has much in common with the tide, washing in and out, gathering in pools here and there, running into the sand and draining back into the receding ocean of global liquidity.
"What is clear is that there has been a financial collapse and some overtrading of financial derivatives," says David Sage, head of the global working capital group at Ernst & Young. ...