Finance and Accounting in the Entrepreneurship Business coursework Essay

Finance and Accounting in the Entrepreneurship Business coursework - Essay Example ase of the demand for the slap-up industrial coating material in the market, the SIJIA Industrial Material intends to come into the market of advanced PVC used as slap-up industrial coating material. According to the research, the demand for slap-up industrial coating material increases more rapidly than the supply. There are less than 10 manufactures which produce slap-up industrial coating material exclusively. Although some manufactures which produce mid/low end products whilst supplying the slap-up products, the scales are very small. And some of our existing customers are willing to purchase our slap-up products if we supply. The current thinking in Financial Management is that financial managers do not perform the role of goal keeping of financial data and information, and arranging funds, whenever directed to do so by the Board of Directors of Companies. Rather, financial managers perform key roles in top management areas by solving complex management problems. Financial management is a concept which deals with the efficient and effective use of economic resources, such as capital funds, in a most appropriate manner. Moreover, the concept of both finance and accounting is closely inter-related. As a finance manager, it is essential to provide a thorough analysis of almost all areas of business, to order to ensure the beneficial applicability of plans, policies and procedures. Finance managers lay stress on making judicious judgments on the profitability, solvency, liquidity, and growth aspects of the firm. Financial data occupy a bottom slot in business planning, albeit an important one, in business co ncepts and performance of the management team. Income statements are simple and straightforward reports on the proposed businesss cash-generating abilities. The advanced PVC used as slap-up industrial coating material is an important kind of the material for uniform such as the environment-protecting people’s clothes which require the highly damp proof