Interpret financial statements.
Interpretation should address the various components, such as balance sheets, cash flow, income statements, return on marketing investment (ROMI), and inventory records.
- What does a lender look for in a financial statement when considering a loan application for a new business?
- To which financial statements would a stockholder want to have access?
- What are the legal issues in preparing financial statements?
- What are the differences between an income statement and a balance sheet?
- How is a cash-flow statement used?
- What is the difference between an asset and a liability?
- What is the purpose of the balance sheet?
- What are the various types of profit found on financial statements?
- What are the benefits of having inventory records kept electronically and updated immediately?