Explain the various aspects of finance that management must understand

  • Explain the various aspects of finance that management must understand.
  • Describe why a manager needs to understand the characteristics and importance of financial markets including their liquidity, competitiveness, and efficiency.
  • Interpret the function of the Financial Balance Sheet in assisting in management’s decision making process.
  • Discuss what could happen if management does not fulfill responsibilities related to finance.  Share a real world example from your own professional experience or from an external source