Accountants: SMEs must be cash savvy
The Association of Chartered Certified Accountants (ACCA), the global body for professional accountants, said small and medium enterprises (SMEs) need good cash management habits.
Most SMEs are unable to even differentiate between their personal and company financial matters, said ACCA Malaysia Advisory president Datuk Mohd Nasir Ahmad.
"The time is ripe for companies to recognise cash management solutions as a must have business tool that helps promote cost savings and operational efficiencies," he told reporters at a seminar jointly hosted by ACCA and OCBC Bank (Malaysia) Bhd in Kuala Lumpur yesterday.
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