Cash Management

As you learned this week, planning for the future is an important role of the financial manager. Developing a financial forecast helps ensure that the financial goals of an organization are met. In particular, cash forecasts are the most important tool for monitoring and controlling corporate cash. Without them, good cash management is simply impossible.
Explain why it would be beneficial to prepare a cash forecast, or a cash budget, for an organization.
Share the best practices you would implement when budgeting for an organization.