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(This section has 10 questions. There is not right or wrong answers. This is mainly to know our understanding when it comes our own company from the finance perspective.)
Do you consider yourself as a non-finance person in your company?
Do you know all the products and/or services (revenue stream) your company sells?
How often do you interact with the members of the accounting and finance department?
How confident are you when interacting about business finance with the members of the accounting and finance department?
Do you think your company is making more money than it is spending?
Do you have financial KPIs in your role?
Do you know the financial goal of your company for this financial year?
Do you think your company can reduce expenses by being more cost conscious?
Do you know how your decisions impact your company’s bottom line?
Do you think the profitability of your company can be increased by enhancing the overall financial understanding of the people in the company?
(This section has 5 simple questions. Again, there is not right or wrong answer. This is mainly to know our understanding when it comes fundamentals of business finance.)
Do you know the difference between finance & accounting?
Do you know the difference between profit & money?
How confident are you in reading Balance Sheet and Profit & Loss Statement?
Do you know how to interpret key financial ratios?
Do you know how to effectively forecast and budget?
(This section has 20 questions, and each question will have one correct answer. This is mainly to know our understanding on how comprehensively we understand the subject – finance.)
When calculating gross profit, the overheads like rent, salary, utility bills are considered.
If a company is profitable then it has sufficient cash.
Ideally when should sales be recorded as sales?
The terms revenue, sales, top line, income are all the same.
Which of the financial statements should be referred to know the EBITDA of a company?
Ideally, when should the break-even be achieved on a monthly basis?
Ideally, which of the following situation should a company be in?
A company can expect more cash when
The gross profit margin can be increased by
Generally one should be concerned when
The two main headings on a balance sheet are
The limitation of balance sheet and profit & loss statement is
Ideally, current assets should be more than current liabilities
Ideally, liquid current assets should be less than current liabilities
Which of the ratio would the banker be interested when approached for a business loan?
When depreciation on an asset is not considered
Ideally, when buying an equipment for a company one should know
The retained earnings belongs to
It the sole responsibility of the members of the accounts and finance department to make sure the company is profitable
Ideally a company should have more money borrowed from bank and less money invested by the business partners.
Your score is