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FINANCIAL MANAGMENT 1
Financial Management
Alicia Sinkler
HCA 375
5/18/19
Cheryl Chance
FINANCIAL MANAGEMENT 2
Financial Management
Will Robinson once said, “Financial fitness is not a pipe dream or state of mind. It’s
reality if you are willing to pursue it and embrace it” (Don Connelly, 2018). Let’s explain the
concept of the balance sheet, cost classification, inventory control and how important they are to
a manager. As a manager, how important is it to share finance conditions with the employees?
The balance sheet is a document of a business at a point in time where it along with
income statements help a corporation manage their business. In understanding the balance sheet,
you would have to understand the accounting equation which assets is equal to liabilities plus
equity (Kelowna Capital News, 2008). Being that the two sides must balance out meaning the
assets must always equal to liabilities plus equity, is why it is called a balance sheet
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