Finance concerns money that is used, its amount, and its use … income, expenses, profit, taxes. Finance often includes a number of financial controls, such as profit and loss statements, annual report, bank balance, accounts receivable (money owed to the company), accounts payable (money the company owes to others).
Questions for Reflection:
How does your company’s finances differ from your personal ones?
Can you estimate your company’s income, expenses, profit and taxes?
How do these affect employee wages?