Financial management.

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Presentation transcript:

Financial management

Control Control and reporting Development of “standards” Loose or tight Locus of control Development of “standards” Information sources Variability Monitoring of actual against standards © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 2

Control feedback Control and reporting Development of “standards” Loose or tight Locus of control Development of “standards” Information sources © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 3

Cash flow © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 4

Cash flow predictions ¼ 1/3 model © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 5

Cash flow projections DHSS curve © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 6

Min and Max cash requirements Based on “gradient” of expediture. If all occur at same time can trigger bank action © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 7

Impact of management Control and reporting Development of “standards” Loose or tight Locus of control Development of “standards” Information sources Variability Monitoring of actual against standards © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 8

Impact of management 9 Control and reporting Loose or tight Locus of control Development of “standards” Information sources Variability Monitoring of actual against standards © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 9

Reality Different approaches to resource payments Labour- weekly Materials- availability of credit Subcontractor-dependent upon terms Generally a pragmatic approach Cash cutoff date for all contracts determined Payment “runs” to minimise need for cash requirements Accounting information systems © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 10

Graphically © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd.

Data from site More accurate than models Use of programme and documentation to develop schedule Use of contract to anticipate monies in Subcontract schedule to look at major payments out Use of pro forma © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd.

Aggregate positions © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 13

Aggregate cash budget © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 14