FINANCE – SUMMATIVE QUIZ – THINKUBATE ACADEMY

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Question 1 of 3

1. Question
Why is strategic financial management so important?
- The business owner needs to understand the debits and credits affecting the cash flows of the business
- Without proper financial management the busines would not be able to submit important budgets timeously
- It is the process to help the business meet its strategic goals by acquiring and managing funding, and to plan for future growth
- The sales teams needs to be motivated to achieve their sales targets. They need to know what the marketing and sales budget is for the next quarter
- Financial management is important to build that all-important culture in the company. Culture beats strategy every time!
Question 2 of 3

2. Question
How can proper financial management affect your ability to run your business for your long-term growth?
- Financial management is important to grow the business profitably and to give a glimpse of the future growth trajectory
- Business is all about generating a profit and financial management is the key to ensuring that the business is profitable for the next three years
- The tax authorities in the country require your business to submit various regulatory returns and documents every year
- Disciplined strategic financial management provides for capital requirements, the appropriate capital structure, and cash flow management
- Strict financial management allows for the procurement department to be able to purchase raw materials on time
Question 3 of 3

3. Question
How can you use your annual financial statements strategically to grow the business?
- Annual financial statements are important to understand the outstanding shareholder loans
- They can be used for investor funding, bridge financing for cash flow, and to finance assets such as equipment
- The annual statements are crucially important to ensure that the annual tax returns are submitted to the tax authority timeously and in the correct format
- The marketing departments needs the annual financial statements to develop the marketing strategy for the following year
- It is important to know how much of the gross profit is being allocated to expenses to track wastage, especially with salaries

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FINANCE – SUMMATIVE QUIZ

FINANCE – SUMMATIVE QUIZ

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