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Running head: LAWRENCE SPORTS WORKING CAPITAL POLICY Lawrence Sports Working Capital Policy Paper Elsa Hurtado University of Phoenix Lawrence Sports Working Capital Policy Paper The management of day-to-day cash budgeting is also referred to as working capital management. Managing a business's finances takes much patience, knowledge and skills. There are several tasks that must be taken into consideration such as collections, disbursements, future revenues and repayment of loans. A good finance manager plans and makes quick actions in the best interest to the company. Cash inflows and outflows are unpredictable. Lawrence Sports manufactures and distributes equipment and protective gear for various sports. Their revenue is at $20 million dollars. Its principle customer is Mayo Stores. Material is sourced from Gartner Products and Murray Leather Works. As a newly appointed Finance Manager, I am responsible for the working capital management for the Lawrence Sports. "How do financial managers create value? 1. The firm should...

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