Work in process, and 3. Companies leave a portion of their funds in a checking account. This is to allow the company to pay bills as they are due and to take into consideration the lag between investments in inventory and accounts receivable. The actual implementation of strategy comprises the operating activity of the company. Procurement is responsible for this function at the Cherokee Plant.
Material management is responsible to have the materials on site for manufacturing.
The administrative activities support all of the above activities. The financial statements are generally directed to parties' external to the company. In all cases in addition to the four principal statements, additional detail is provided by what is known as the notes to the financial statements . In most cases, the financial statements would be misleading without the additional information provided by the notes. The balance sheet details the financing and investing activities as of a point in time.