Title: Explain the importance of financial statements in decision-making.
Course: Strategic Marketing (formerly Marketing, Advanced) (12152) > Section: Developing Management Skills

Explanation should include

- the types of financial statements (e.g., profit/loss, cash flow, balance sheet)
- the purpose of each type of financial statement
- ways that financial statements influence business decisions.

Process/Skill Questions:

- What area of management requires financial statements to make decisions?
- What are the consequences of false information being reported in financial statements?
- What financial information should be included as part of a business plan?
- Why does a marketer need to know the basics of finance?
- What area of management is responsible for preparing financial statements?
- How often are financial statements prepared/updated?