1.Can you effectively control your business and protect your assets ?
2.Do you understand the accounting conceps of your electronic software recording package ?
3.Can you effectively cost the products that you sell ?
4.Do you know
the dangers of creating journal entries ?
5.Do you know how to effectively delegate duties and are able to control the delegations ?
6.Do you know the simple method and the power of calculating a sales break evan of your business ?
7.Do you realise the affect of selling goods on credit.?
8.Are you aware of the best way to finance your business ?
9.Do you understand the difference between long term and short term financing of a capital project ?
10.Are you able
to read, understand and analyse your financial statements trading results. ?
11.Do you understand the time span of a statement of financial position (balance sheet) and a statement of comprehensive income (income statement) ?
12.Do you know how
to utilise them to your best advantage ?
13 Do you know how to incentivise and get the most production from your workers ?
14.Do you understand the difference between a budget and a cash flow forecast ?
15,Do you know what to look for
when buying a business ?
16.Do you know how to prepare you business to get the most out of selling it ?
17.Do you understand the different ways of buying and selling a business ?
18.Do you unerstand how local and international economic
trends could affect your business ?
19.Do you know your rights if one of your customers goes into bankruptcy, and owes you a substantial amount of money ?
20.Do you understanding the affects of inflation and Fair Value Accounting ?
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