Benefits and drawbacks of budget use

Types of budgets: incremental, flexible, zero budgeting

Uses of budgets for performance measurement, resource allocation, control, and monitoring

Business Finance The Need for Business Finance

Reasons for business financing: startup, growth, survival

Distinction between shortterm and longterm financing needs

Difference between cash and profits

Business failure due to lack of finance: bankruptcy, liquidation, and administration

Business growth

Reasons and methods of internal growth (organic growth)

Types of external growth through mergers and takeovers: horizontal, vertical (backward and forward), conglomerate diversification, friendly merger, hostile takeover

Impact of mergers/takeovers on stakeholders