Canadian Institute of Chartered Accountants

Canadian Institute of Chartered Accountants

October 22, 2010 12:13 ET

New Toolkit Helps Small and Medium Businesses Address Cash Management Issues

TORONTO, ONTARIO--(Marketwire - Oct. 22, 2010) -

Editors Note: A photo for this release is available via Marketwire on the picture wire of The Canadian Press.

A new publication by the Canadian Institute of Chartered Accountants (CICA) in conjunction with CIBC provides valuable cash management advice for small- and medium-sized businesses.

The "Cash Management Toolkit for Small and Medium Businesses" authored by Jeffrey D. Sherman, MBA, CA, is designed to help business owners understand the various components and concepts of cash management. A special seminar was held this morning at the Toronto Board of Trade to mark the official launch of the toolkit.

"Taking a strategic approach to cash management is essential for business owners, especially in today's unsettled economic climate," said Cairine Wilson, Vice-President, Member Services, CICA. "The toolkit is designed to support business owners in developing a solid cash management foundation."

"CIBC recognizes that one of the fundamentals to success for any business is managing cash flow effectively," explained Jon Hountalas, Executive Vice-President, CIBC Business Banking. "This toolkit is a rich, comprehensive guide and an excellent resource for every business leader that can be used by businesses in any industry at any life stage."

Both Sherman and Hountalas were presenters at the special seminar.

The toolkit provides an in-depth case study and a number of checklists to assist business owners. It also provides detailed advice on issues such as:

  • Budgets, projections and forecasts
  • Fraud and risk management
  • Credit and collections, payment terms
  • Optimizing inventory
  • Obtaining and investing cash
  • Handling debt
  • Working with your banking partners

Additional information about the toolkit, including how to order a copy, is available online (www.CAstore.ca/cashmgmt). The toolkit is available in both English and French.

The Canadian Institute of Chartered Accountants (CICA), together with the provincial, territorial and Bermuda Institutes/Ordre of Chartered Accountants, represents a membership of approximately 77,000 CAs and 12,000 students in Canada and Bermuda. The CICA conducts research into current business issues and supports the setting of accounting, auditing and assurance standards for business, not-for-profit organizations and government. It issues guidance on control and governance, publishes professional literature, develops continuing education programs and represents the CA profession nationally and internationally. CICA is a founding member of the International Federation of Accountants (IFAC) and the Global Accounting Alliance (GAA).

CIBC

CIBC (TSX:CM)(NYSE:CM) is a leading North American financial institution with nearly 11 million personal banking and business clients. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, and has offices in the United States and around the world. You can find other news releases and information about CIBC in our Press Centre on our corporate website at www.cibc.com.

CIBC Business Banking is committed to providing Canadian companies with industry expertise, innovative ideas and strategic solutions designed to create, protect and realize shareholder value. Our goal is to deliver outstanding service while ensuring financial strategies are aligned with your business strategies for the success of your business.

Contact Information

  • The Canadian Institute of Chartered Accountants
    Tobin Lambie
    Manager, Media
    (416) 204-3228
    tobin.lambie@cica.ca