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

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