What is financial management and why is it important?
Demonstrate the types of budgets / reports that are helpful in the financial management of a business.
Describe the types of information required to set up a budget.
Discuss the financial reporting process.
- Who monitors the budget and relevant information?
- How often are management reports prepared?
- What are budget variances?
- How often should budgets be reviewed?
- Explain contingency plans and their role in the financial management process.
Discuss the impact of poor cash flow on a business?
Provide strategies on how to improve the cash flow of a business.
What do ageing summaries tell you about a business?
Explain GST as applied to the Australian economy and the reporting requirements.
How is GST handled in the budget process.