← Lessons 05-Financial Management Techniques
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1. Introduction 2. Definitions of Key Financial Terms 3. Sources of Funds 4. Uses of Funds 5. Trading and Profit & Loss Accounts 6. Balance Sheet 7. Legal Requirements 8. Balance Sheet Terms and Ratios 9. Budgeting 10. Cash Flow 11. Cash Budgeting 12. Stock Control 13. Conclusion 14. Final Memory Checklist

13. Conclusion

  • Accounts meet legal requirements and are essential management tools.
  • They show sources of funds and how funds are employed.
  • They show business volume and profitability.
  • They help identify where profit performance can be improved.
  • They indicate how secure the business is against sudden cash demands.
  • Accurate accounts and constructive use of financial information support growth, profit and business survival.