This post answers questions regarding internal cash control in a business. Specifically, how to account transactions related to working capital control.
Posts tagged as “Profit and Loss Account (P&L)”
While stakeholders in a business organization have a use for the published Final Accounts, different stakeholder groups have unequal access to information.
Once we know about the most important equation in business, the other two crucial concepts need to be understood – Cost Centers and Profit Centers.
Internal sources of finance come from within the business. Retained profits kept in the business belong to internal sources of finance.
Finance is money. And money for a business means cash. Cash is the money that a business receives from the sale of products.
All business organizations need accounting systems. This makes finance one of four core business functions.