In your own understanding, please answer the following: 1. What are the importance of knowing, analyzing and assessing the financial statement in the decision making of internal and external users in the organization? 2. Explain briefly how do you understand the concept of Cost of Good Sold.

Does the Profitability Analysis play an important role in decision making? How?

Classify the following activities as per value chain analysis: 1.Communication, pricing and channel management 2.Installation, repairs & replacement 3.Planning and management 4.Infrastruacture of the company

What are the similarities between the income, market, and asset approaches to business valuation?

Match each of the components of relevance with its definition. Relevance       Definitions 1 . Confirmatory value     2 . Predictive value 3 . Materiality  a. Information is useful in helping to forecast future outcomes. b. Information provides feedback on past activities. c. The nature or amount of an item has the ability to affect decisions.