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Evasive Action

One of the key benefits of preparing considered cash flow forecasts is that we are able to identify potential problems in advance-hopefully well in advance-certainly early enough to take some form of evasive action.

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Forecasting cash outflows

Cash flow forecasts fall into two parts-inflows and outflows. Except in situations where the fee earners are remunerated on an Eat What You Kill basis, the inflows and outflows are subject to separate influences, so they can be forecasted independently.

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Forecasting inflows (short-term)

Forecasting (and then delivering) cash flows is crucial to any business. Otherwise they die. I have outlined how to approach the much easier task of forecasting outflows-but how can we make credible forecasts about inflows in such an uncertain time?

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Bigger is not always Better

One of our clients applied for a CBILS loan from their main UK clearing bank but were turned down. Their needs were more than those of a Bounceback loan so that was not an Option.

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Breaking the Link

Lawyers are obsessed with measuring profit. Over an extended period profit and cash flow are related, but our workshop feedback shows that many lawyers do not fully understand the link between the two.

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Forecasting cash flows (medium-term)

Many firms have had to forecast their cash flows in order to understand their financing needs in the coming year and often to substantiate their application for CBILS loan.

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