Prudent cash management programs for large or small companies rest in
             the company's ability to maximize interest on those funds not readily
             needed for immediate expenditures; and also in preparation for future
             expenditures. A vital component of the cash management program is the cash
             budget, which outlines the necessary cash needed, day, week, month, and
             year, for necessary cash expenditures. The cash budget clearly and
             specifically outlines the inflow and outflow of cash within a company by
             citing surpluses and shortages. The accuracy of the cash budget is,
             therefore, predicated upon future forecasts (i.e., sales) upon which it is
             based. According to Oglivie (2002)) cash budgets are developed through four
             specific stages: calculation of expected receipts; calculation of expected
             cash payments; comparison of receipts and payments to determine net cash
             flow; and calculation of the cumulative cash flow. In the end the cash
             budget will reflect purchases costs, salary and operational costs, payments
             to suppliers, as well as record the cash receipts from customers. The end
             result of preparing a cash budget within a cash management program is to
             efficiently utilize cash, consistent with the objectives of the company, by
             tracking and controlling the cash flow.
             In order to maintain and adhere to a well planned cash budget
             companies are in need of tools designed to assist them with cash float
             situations. Floats positions are mechanisms whereby collections are
             balanced with expenditures through speeding up collections and slowing down
             expenditures. To this end several cash float strategies are employed to
             manage cash flows. Some of the more widely used tactics to manage the float
             are zero balance accounts, direct deposit payroll systems, cash sweeps,
             online tax payments, wire transfers, and using commercial paper. The
             aforementioned cash float mechanisms help a company to simplify t...