This module provides a comprehensive introduction to the day-to-day financial workings of small and medium-sized businesses. We look at the benefits of financial competence, explain the difference between cash and profit and between financial accounting and management accounting. We also look at the purposes and structure of a balance sheet, a profit and loss account and a cash flow statement, and how to use financial statements to discover how a company is performing. Different models and theories are employed throughout to illustrate the various topics, and a multiple-choice knowledge check is included.