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Dash for Cash - No Long-Term Benefit

Year End Performance Stats

Public companies often make a 'dash for cash' at the end of the fiscal year to produce a cash flow statement that's suitable for framing when financial statistics are due to be released. They spend an enormous amount of effort trying to meet estimates of yearly performance and there is more at stake than mere window dressing. Beat expectations and investors reward you. Fall short and so will your stock price.

The pressure to perform is so intense that many companies now game the system on an annual basis to make their numbers - especially working capital numbers - look good at year-end.

Key Points

  • Common gaming tactics and why they don't work
  • Short-term gains, long-term problems
  • 10 steps to success
  • Accelerating improvement


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Written by:


Justin Harrison

REL Consultancy


This article is available as part of an extensive case studies collection: Strategic Treasury Series

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