3 - Processes Flashcards
(5 cards)
1
Q
5 processes of financial management
A
- Planning & Implementing
- Monitoring & Controlling
- Financial Ratios
- Limitations
- Ethical issues
2
Q
3 key planning tools
A
Budgets, financial needs, record systems
3
Q
3 financial statements used for monitoring and controlling?
A
Cash flow statement
Income Statement
Balance Sheet
4
Q
Why are financial reports sometimes limited?
A
They don’t include qualitative info, can be manipulated, value of assets is subjective
5
Q
Ethical issues in finance?
A
Misleading financial reporting, tax avoidance, hiding liabilities.
