Understanding finance as both an art and a science can help in making better business decisions as it allows for a more comprehensive view of financial management. The science aspect involves the use of formulas, theories, and models to analyze and predict financial outcomes. The art aspect, on the other hand, involves the use of judgment, intuition, and experience to make decisions when the numbers aren't clear or when dealing with uncertainty. This combination allows for more informed and balanced decision-making.
Financial statements do not always tell the entire story about a company. Accounting methods and fi...
View summary