Accounting & Financial Management

Requirement:
You should only answer two of the following four options:-

1. Explain how accountants determine profit and why the profit calculated is different to the cashflow in the same period. 
2. Identify two accounting terms or ratios which represent liquidity and discuss how these relate to cash and/or cashflow.
3. Identify two sources of finance that are suitable for solving a short-term liquidity problem. Explain their characteristics.
4. Relate the purposes behind budgeting to a family attempting to manage its cash.

Maximum Word Length: 900 words, excluding bibliography.