Decahelp

Question 1

Describe the need of Financial Information

Answer 1

Financial Information is vital for making informed decisions. Buisnesses use it to determine if it’s using resourses optimally.

Question 2

Use of technology in accounting

Answer 2

The use of technology in accounting involves leveraging software and digital tools to streamline financial processes, enhance data accuracy and improve decision making

Question 3

Cash flow statements

Answer 3

They present inflows and outflows of currency in a specific period. They provide information about a company’s operating, investing and financing activities. Cash flow statements help assess a company’s liquidity, cash position and ability to generate cash from its core operations.

Question 4

Balance sheets

Answer 4

They are a snapshot of a companys financial position. They provide information about a company’s resources, obligations and ownership interests. They also help assess solvency, liquidity and financial health. It has three parts: assets, liability and equity.

Question 5

Income statement

Answer 5

An income statement is a summary of revenue, expenses, gains and losses over a certain period. The basic calculation used to analyze it is income minus expenses. It shows a company’s profitability.

Question 6

Role of Finance in buisnese

Answer 6

The role of Finance is to Manage and Alligator Financial resources effectively to achieve an organizations goals. Finance helps buisnesses optimize use of Funds, make Strategic Investments and assess Financial risks

Question 7

Role of ethics in Finance

Answer 7

ethics is crucial for maintaining integrity and Trust in Financial markets and transactions. in Finance and accounting Institutions must adhère to Moral principles and Professional Standards when making Financial decisions and managing Investments

Question 8

Demonstrate a customer service service mindset