Processes Flashcards
1
Q
Planning and implementing
A
- determining financial needs
- Develop budget
- Maintaining record systems
- identify financial risks
- Establishing financial controls
2
Q
Monitoring and controlling
A
- cash flow statements
- income statement
- balance sheets
3
Q
Limitations of financial reports
A
- normalised earlnings
- capitalising expenses
- valuing assets
- timing issues
- notes to financial statements
4
Q
Ethical issues related to financial reports
A
5
Q
Comparative ratio analysis
A
over different periods of time
against standards
industry averages
