Financial analysis and its relevance in managing decision-making
DOI:
https://doi.org/10.47230/unesum-ciencias.v7.n2.2023.167-176Keywords:
Financial Analysis, Decision making, pymesAbstract
Financial analysis is extremely important for organizations worldwide so the implementation of this process allows making correct financial decisions and becoming competitive, however many companies have been forced to close due to the current situation of the pandemic. , and others due to lack of accounting and financial knowledge that in one way or another led to making wrong decisions, thus causing losses and therefore bankruptcy. Considering the above, it was proposed to determine how the lack of knowledge about financial analysis affects the management decision- making of SMEs, as well as to demonstrate its relevance in the accounting and financial process. The research was done in the field based on a qualitative research aimed at owners of the most relevant SMEs in Jipijapa, in order to know how these companies carry out accounting processes for their activities and use a financial analysis. A survey was applied to 9 owners of the most relevant SMEs in Jipijapa. The vast majority of the owners do not have knowledge regarding the financial statements, however, they carry out accounting processes manually. The results also show that the main reason that the owners do not carry out the analysis of the financial statements is the lack of knowledge about the financial statements same. In conclusion, he highlights that it is important to carry out the financial analysis of the financial statements since it allows decisions to be made according to the results obtained by the ratios applied within the analysis.
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