1. Why is it important for managers to understand financial statements? Should financial statements only be studied by accountants? Should financial statements be released to all company employees? 2. Why is it important to understand ratio analysis? Do you think all company employees understand ratio analysis? If not, should they? How can management help employees to understand the importance of ratio analysis? Should employee raises and bonuses be tied to performance measures? If so, what measures would you recommend? 3. Why should a company produce competitive analysis? What are some of the measures that could be included in developing competitive analysis? Should all company employees have access to competitive analysis? Why or why not? 4. How does cash flow serve as a predictor of financial health? Is cash flow a more important measure of company performance than earnings? Why or why not? 5. What are some of the effects of unethical business practices? Who are some of the stakeholders hurt by such practices? Can you be personally affected by unethical business practices? How?