Business finance: the need for business finance and the main sources of finance.
The importance of cash and of cash-flow forecasting and working capital.
Income statements; what profit is and why it is important?
The main elements of a statement of financial position. Interpreting a simple statement of financial position and making deductions from it, e.g. how a business is financing its activities and what assets it owns, sale of inventories to raise finance.
Analysis of accounts: profitability, liquidity and how to interpret the financial performance of a business by calculating and analysing profitability ratios and liquidity ratios. Why and how accounts are used.