What Is the Difference Between Contingency Planning and Crisis Management

question 174

Essay

What is the difference between contingency planning and crisis management?

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Definitions:

Cash Flow

The net amount of cash and cash-equivalents being transferred into and out of a business.

Operating Activities

Activities that relate to the primary, day-to-day operations of a business, such as selling products or providing services.

Prepaid Expenses

Assets on the balance sheet representing services or goods paid for upfront but not yet consumed.

Indirect Method

A technique used in cash flow statement preparation, adjusting net income for changes in non-cash accounts to arrive at operating cash flow.