Finance basics

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Summary

Many small businesses fail because the bosses and senior operational managers can't get their heads around some fairly simple accounting concepts, in particular: profits, cash flow and working capi...

Many small businesses fail because the bosses and senior operational managers can't get their heads around some fairly simple accounting concepts, in particular: profits, cash flow and working capital. Understanding and monitoring these is vital if the owner or manager is to have an accurate picture of how their business is really doing. They can help to identify where things are going well and where they are not, help the owner to correct problem areas, and to decide how to point the business in the right direction for the future.

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