Every day business owners make financial decisions that will impact every phase of the business operation, including such as payroll, cash flow, and projecting future growth. A thorough understanding of accounting and financial management allows business owner to find the best sources and use of funds. For example, you can derive and accurate measure the health of your business from the income statement, balance sheets, and financial ratios. We investigate financing options, how to analyze credit, and the time value of money. We also examine how banks, such as the U.S. Federal Reserve Bank, affect the ability of businesses to obtain financing.
What Will You Learn?
- Financial accounting is the process by which an organization's revenue, receivables and expenses are collected, measured, recorded and finally reported into a financial statement. This process is designed to accurately reflect business activity; help companies meet legal, fiscal and statutory requirements; present financial accounts to business owners; allow for in-depth financial analysis; and facilitate efficient resource allocation. The main purpose of financial accounting is to allow third parties to assess the value of a company.
Chapter 1 the Role of Accounting in Business
Chapter 2 : Managing Financial Resources