Business Finances Review

Business finance is the strategic management of money to support a company's daily operations and long-term expansion. It encompasses four fundamental elements——which serve as the building blocks for all financial reporting and decision-making. 1. Essential Financial Statements

Provides a snapshot of what the business owns (assets), what it owes (liabilities), and the owner's equity at a specific point in time. business finances

Every business must master three core reports to understand its financial health: Business finance is the strategic management of money