What is financial management and why is it important?

Demonstrate the types of budgets / reports that are helpful in the financial management of a business.

Describe the types of information required to set up a budget.

Discuss the financial reporting process.

- Who monitors the budget and relevant information?

- How often are management reports prepared?

- What are budget variances?

- How often should budgets be reviewed?

- Explain contingency plans and their role in the financial management process.

Discuss the impact of poor cash flow on a business?

Provide strategies on how to improve the cash flow of a business.

What do ageing summaries tell you about a business?

Explain GST as applied to the Australian economy and the reporting requirements.

How is GST handled in the budget process