Question: what are the main components of a balance sheet and...
- What are the main components of a balance sheet and how does it enable managers to make estimates of new items for inclusion in the budget?
- What are some of the reasons that cause a business to experience poor cash flow?
- What are the advantages of monitoring expenditure?
- Why do organizations need a good financial record keeping system?
- Name and give a brief description of 3 accounting software that an organization can use.
- Describe the following terms: a. Gross profit b. Net profit c. Stock turnover
- What are financial ratios, why are they important to managers?
- Why is it vital to interpreting an organization’s financial ratios based on its industry overall benchmarks ratios
- Define the term ‘What is Tax Liability’
- Effectively auditing a budget requires an estimation process that is acceptable and/or reasonable. What are some issues to consider?
- Explain the terms used to describe variations and what can the unfavorable variances be further classified into?
- What are 3 pieces of financial documentation necessary to verify expenditure? Give an explanation for each.
- To ensure that you are in a good position to negotiate your budget submission what should you do?