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(Solved): Although universal, the concept of cash flow and its business application is particularly rele ...

Although universal, the concept of ‘cash flow’ and its business application is particularly relevant to the construction industry and those businesses involved in project delivery. Much to the objection of many businesses and industry bodies, the Queensland Government introduced the Building Industry Fairness (Security of Payment) Act 2017, known in the industry as ‘BIFA’. This act was essential to a new/updated version of the Building and Construction Industry Payments Act 2004. Among various changes and updates, several aspects of BIFA had notable impacts on cash flow management for construction companies. 1. Review the regulation (both before and after being enacted) and identify at least one key aspect that had/would have a significant impact on the cash flow of the construction business. 2. Then, explain why this aspect of BIFA would cause an impact on cash flow. 3. Include a basic month-to-month cash flow spreadsheet that shows the ‘before and after’ of BIFA on cash flow. 4. Briefly reflect on your findings once the cash flow spreadsheet has been created. Is there a difference between before and after BIFA was enacted?

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