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How does the business maintain its financial records

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ACCOUNTING AND BUSINESS

How does the business maintain its financial records? Who does the accounting for the business? What accounting or records is used?

Who periodically reviews and analyzes the accounting records? What reports are generated? How are they used to manage the business?

How well do you understand the financial reports generated by your accounting systems? How well do you utilize the information to make the business decision?

What information would you like to obtain from your financial accounting system; beside how much income you are obtaining?

Have you had any formal instruction or training as well as to how to record your business transactions, understand the information and or review and analyze the data?

Is your financial information detailed and organized enough to give adequate management information? How do you utilize this information?

Reference no: EM131216127

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