Discuss thoroughly all the questions ask below:

1. Financial Management have two goals, these are profit maximization and wealth maximization. Discuss the difference between the two. Do you agree that the fundamental aim within financial management is to create and sustain shareholders wealth? Substantiate your arguments.

2. There are 4 financial statements a business is preparing at year end. Discuss the features of the 4 financial statements using the accounting equation Assets = Liabilities + Owners Equity/Shareholders Equity. Can a business prepare a financial statement before year end? What do you call those financial statements?