it is often said in business the "cash is king." This has been especially true during the recent economic downturn. I personally consider cash forecasting and cash budgeting to be among the most important reports I create and monitor. Why do you think accurate cash budgets would be so important also Is is possible for a company to have a profitable income statement and/or a solid balance sheet and still have cash flow problems? Why or why not? What would be some examples when this might be the case?
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