• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month


Extracts from this document...


Task 4 (P3) Sources of Finance available to Joseph Chamberlain Sixth Form College There are two types of sources of finances namely internal sources and external sources. Internal sources of finance can be from savings or profits however external sources of finance can be from outside the business such as banks, shares etc There are many different sources of finance available generally however it depends on the actual business type. For JCC the sources of finance available to them are as follows: * Banks - banks are able to offer loans, business accounts, commercial mortgages and overdraft facilities based on the business plan. Interest is payable based on the predicted risk. Some security will need to be provided, e.g. assets such as college premises. * Overdraft - an arrangement with the bank where a business will be able to borrow more money from its bank than is actually in their account. ...read more.


The assets which are sold may not be needed any longer by the business. * Lease - a method of obtaining items for a stated period of time. At the end of the lease the item has to be returned to the owner. Useful when expensive machinery is replaced regularly * Hire purchase - a system of obtaining items in return for a monthly payment over a given period. The item does not become the owners until the last payment is made * Grants - an amount of money usually made available for a specific purpose by the government. * Owner's investment - the existing owners of the business may invest more money. * Mortgage - a very long - term method of borrowing money which requires some security. * Share issue - limited companies and release shares for people to buy to raise money. * Debenture - another type of loan but is secured against an item that is worth a lot of money as security. ...read more.


The HR will outline the job description and the personal specification which will then be advertised in the Evening mail which cost them �4000 four a quarter A4 page. However when they advertise vacancies for the Principal they use Specialist magazines such as the times and the guardian which costs them �15,000 for two weeks of advertising. Once they receive the applications they start the first step by short listing them and they read it for only 30 seconds if it makes them interesting and more realistic they will continue to read it otherwise they do not read it because they have a lot of applications to look at which the time is short. Once the shortlist procedure is finished they call the applicants for an interview in which cases sometimes the head of department or the assistant principal interviews as well with the HRM. They judge the applicant by how they present themselves and look for their experience and achievements. ?? ?? ?? ?? Akhtar Esmail Adam J35081 1 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Accounting & Financial Management section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Accounting & Financial Management essays

  1. Sources Of Finance

    Leasing is a contract between the lessor which will be the leasing company the sole trader sells their assets to and the lessee which is the customers who hires the asset and pays a sum of money which is called rental over an agreed period of time.

  2. A2 Business CourseWork

    the moment seem to be succeeding with the sheer volume of trade they get. Charities and fundraising: Charities and fundraising works on the same principle as the environmental issues. It works, not by getting direct sales but by persuading people to shop there because the business supports worthwhile causes.

  1. Edexcel Applied Business A2 unit 11 finance task A

    They may also have plans in the future of what they want the finance for such as, bigger plans for long haul flights or to expand into different countries such as china and India who are said to be growing economy's In 2008 the retained earnings are shown as a deficit of (255.2)

  2. Sources of finance for a new business.

    Bank overdraft This is an arrangement with the bank whereby a business can spend a certain amount more money than it has in its bank account. It allows the business to borrow small amounts of money over a very short time scale.

  1. The maintenance of accurate records supplies the company with the financial data that assists ...

    In the example above the credit side has got a total of �8250 whereas the credit side has got a total of �2600. Step 2) the largest amount needs to be entered in both total boxes, which in this case is �8250.

  2. Unit 2 - Investigating Business

    behaviour, Likes and dislikes etc but entrepreneurs must follow this to stay on the safe side e.g. if someone wants to sell hip hop and R&B music they are likely to sell it in area's where black people will be more such as Lewisham because they have researched that those

  1. Sources of finance

    As a response employees were made redundant in order to manage cost causing a rise in unemployment and leading to further fall in demand for goods and services. The decrease in demand for goods and services as resulted in the closure of many small businesses in the UK.

  2. Investigating Business Resources

    Working Culture How you go on with each other. If you are nice against the others in you're office. If you have a lot of disagreements with your colleagues, you can't work with them. In this way you can't work in a team.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work