A key product of an accounting system is a set of financial statements. The ultimate product from the accounting function is the provision of financial data through income statements, balance sheet and the statement of cash flow. A good financial manager must how to interpret and use the financial statements in allocating firm’s financial resources to generate the best return possible in the long run. Finance links the economic theory with the numbers of accounting and all managers in whatever firm setting must know what it means to assess the financial performance of a firm.
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