Adopting Financial Processes & Procedures For Strong Financial Management

Proper financial management takes more than just knowing how much you have in your business bank account. As a business manager, you need to monitor the financial health of your company and meet your financial obligations in a timely manner.

So what are some financial processes & procedures you can adopt for good financial management?

Proper financial management takes more than just knowing how much you have in your business bank account.

So as a business manager, do you know how to monitor the financial health of your company? And do you have the right financial processes & procedures to meet your financial obligations in a timely manner?

Take the quiz to find out!

True or False? Proper financial management takes more than knowing how much you have in your business bank account.

True, when running a company, you should keep clear records that help you understand the financial state and cash flow of your business, leveraging financial reports and figures.

False, it’s mainly about following up on your bank statements and making sure you are not stretching your overdraft facilities beyond what you can afford.

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Adopting Financial Processes & Procedures For Strong Financial Management

True or False? Proper financial management takes more than knowing how much you have in your business bank account.

Setting a realistic budget will:

What are procedures you can take to maintain a good financial health?

What are the two types of accounting methods?

To manage your credit effectively, you should:

True or false? A cash-based recording system records transactions when they occur.

Your Profit & Loss (P&L) reports on (i)_ while the Balance Sheet helps you understand (ii)_.

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