1.Differentiate accounting from finance by making an emphasis on the role they play in the business world.

2.How does accounting and finance work together in a business environment? How does accounting assist financial managers in their decision-making?

3.Why does a company need both accounting and finance personnel? What types of problems might occur if accounting and finance personnel do not cooperate and work effectively together?

4.What is the essence of converting the monetary items of the financial statements into financial ratios?

5.A cash budget and an income statement have many similarities. What are the main differences between these two documents?