Business and Finance

The economic and financial analysis assumes greater importance in our country mainly from the 90′s by the profound economic effects that occurred in Cuba with the disintegration of socialism in the countries of Eastern Europe. Given current conditions in which to return the Cuban economy, where market relations are at the first order in trade relations and thus is becoming more necessary to the proper functioning of the economy and improving efficiency in the use of resources in the hands of companies, is the central objective of economic policy of the party and the Cuban state.

The importance of accounting data has plunged more expensive because it now has scientific and technical development, has perfected the theory of scientific management which also requires the flow of information truly and accurately to enable better understanding by managers and businessmen for making decisions.

It is important for each of the activities taking place within firms, through this they use to create various external funding and focus on solving specific problems affecting companies such as accounts receivable or pay, to shape policy while credit to customers and obsolete inventories dependent rotation.

It is clear that the very changes that our economy recorded in the urgent search for a model of efficiency in the system. Business managers necessarily require companies to seek new forms of leadership and disregard of accounting as tool of control and analysis in decision-making.

To ensure the proper performance of the behavior of production efficiency, it is necessary to make a deep analysis and calculation of cost estimates to reflect in monetary terms permit to use by management, preferably on standards will not find these on the index set and as the financial status depends on the results of production and they in turn influence the lower costs, higher net income and profitability.

With financial analysis assesses the reality of the situation and behavior of an entity beyond the purely accounting and financial laws, it has relative character, because no two businesses are alike or activities, or size, each has the characteristics that distinguish positive and some can be harmful to others. With the use of accounting information for control and planning is an extremely necessary for executives.

The analysis may be economic or financial, the latter to interpret the financial facts on the basis of a set of techniques that lead to decision-making, and studies the financing of the company, preferably from the financial statements.

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