今日知识点：

Cash flow forecasting

Cash inflows

Cash outflows

Limitations of cash flow forecasting

例题

Q: Discuss the view that cash flow forecasts for a newly operating international airport may be of limited use to its senior managers. 

解析

Answers may include: Cash flow forecasting aims to estimate cash inflows and outflows to allow effective financial management of a business. The airport is a major capital investment project with significant operational expenditure. The cash flow forecasts will contain estimates of inflows and outflows.

Inflows may include: 

Capital injection by investors. 

Fees paid by airlines for use of the airport. 

Income from retail outlets in the airport.

Outflows may include: 

Interest payments on any loan capital. 

Wages and salaries for staff running the airport. 

Payment for security of the facility.

CFF are important for financial planning and management, but CFF have limitations; factors internal and external to the business can blow CFF off course.

Business uncertainty may be especially important in this situation: domestic or international economic recession may affect the flow of business at the airport. The price of oil may be volatile and critically affect forecasting. The cash flow estimating may be inadequate; important issues missed or underestimated; wrong assumptions may have been made about, say, the amount of retail income expected.

下面我们为大家准备了一道同类型的题目，请大家一起来试试解答。

Discuss the view that the limitations of published accounts significantly weaken their usefulness for business stakeholders.