Which term best describes the financial strategy of managing income and expenses over time?

The term that best describes the financial strategy of managing income and expenses over time is cash flow management. Cash flow management involves monitoring, analyzing, and optimizing the net amount of cash that is received and paid out over a specific period. It ensures that an organization has sufficient liquidity to meet its obligations while strategically planning for future cash needs.

Effective cash flow management allows a business to understand its financial health by tracking inflows and outflows, helping prevent cash shortages that could disrupt operations. It often involves assessing when income is received compared to when expenses are due, thereby facilitating timely financial decisions.

While financial planning encompasses a broader scope of setting financial goals and determining how to achieve them, and budgeting specifically involves creating a plan for spending and saving, cash flow management focuses on the actual movement of cash over time. Cost control, on the other hand, pertains to managing and reducing expenses to improve profitability, but does not solely address the timing and management of cash flow.