• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
Page
  1. 1
    1
  2. 2
    2
  3. 3
    3
  4. 4
    4
  5. 5
    5
  6. 6
    6
  7. 7
    7
  8. 8
    8
  9. 9
    9
  10. 10
    10
  11. 11
    11
  12. 12
    12
  13. 13
    13
  14. 14
    14
  15. 15
    15
  16. 16
    16
  17. 17
    17
  18. 18
    18
  19. 19
    19
  20. 20
    20

Develop my understanding regarding the production of accounts and their use for business decision making.

Extracts from this document...

Introduction

Introduction For this assignment I am an owner of a sandwich shop. My business has been established since 1993 and I have built up a regular customer base. With the upturn in the economy I feel the time is right to open another shop. My task is therefor to prepare the necessary accounts and produce a formal report for my bank manager whom I wish to approach for advise and a possible loan extension. Eventually at the end of this assignment, another piece of work is continuing this coursework. In that assignment I have been told that the bank have accepted to financially help me in the expansion of my business which I had proposed for. I will have to start to consider where I will locate. My location should have suitable external influences such as potential customer usage, unemployment levels and the possible assistance by the government. The bank manager is going to ask me to produce a full business plan, which shows my full proposal. More information is given in the "introduction" for my 'Business Plan' assignment. My six objectives for my coursework's are: * Develop my understanding regarding the production of accounts and their use for business decision making. * To develop my analytical skills for business decision-making. * To develop my understanding of the carious factors that influence business decision making i.e. finance, marketing, location etc... * To increase my skills at handling information, using IT. * To increase my skills in communicating information, using IT. * To develop my analytical skills for business decision-making. Finally I will hopefully have produced a good report to persuade the bank manager to help me raise the finance for another shop. By my next assignment I will with good and strong back up (market research) have produced an excellent plan, which will persuade the bank manager that he is investing the bank's money in a good business. ...read more.

Middle

business people, office workers, students, usual workers and other occupied people. My partner and I split the questionnaires and we gave out 50 questionnaires each. We gave the questionnaires out in various fast food shops, to different work places and at busy large streets where you can find a lot of businesses e.g. Western Road near the town centre. We are aware of that a small amount of our research carried out, can be irrelevant or wrong. People can not be bothered to answer some questions or they answer incorrectly e.g. in one questionnaire someone had answered female, 16, retired, which shows that there can be a small error in our market research. But as we had 100 samples of results it will not affect our research very much. If we concentrate on our results, we have to make some decisions on how we should run and manage the shop. Each of these points is responding and evaluating the question that was set in the questionnaire. Question Peoples Response/Conclusion 1. There was not a major difference in gender. 68% were male and the rest were female. This result is quite irrelevant to our business but still useful to know because it adds more information to our statistics. 2. We used the age ranging under 16 to 40+ and we almost had a fair amount of answers from each range. 3. As I've stated, we only targeted a specific range of people. Most of the students would prefer to buy their food outside school. This have we found in a secondary market research. We know by own experience that school canteens can be very stressful and if there are a fast food shop in a close-by area, it is usually filled with students. Sandwiches are preferred by both workers and students as it is a quick, tasty and usually a cheap option for lunch. 4. ...read more.

Conclusion

Share Capital for Larger Businesses. One of the reasons why larger businesses become public limited companies is because they find it easier to sell new shares in the business. A new share issue by a public limited company is likely to be organised by a bank or a merchant bank. It might offer the shares for sale to the general public, or it could sell the shares to existing shareholders. Retained Profit. In any one year, only a few per cent of all the money to finance investment in the UK comes from raising new capital. The most important source of finance is retained or undistributed profit. This is profit, which has been made by the business and is not distributed to the owners of the business. Instead, it is kept back, or retained. Retained profit is an internal source of finance because the money has come within the business. New capital in contrast, is an external source of finance because the money comes from outside the business. Other Internal Sources of Finance. Another way for a business to raise money internally is to sell assets. Larger businesses might be able to negotiate a sale and leaseback scheme. Here the business sells some or all of its property to another company, like a property company. At the same time, it signs an agreement to lease back the property for a fixed annual rent. The business receives a lump sum of money, which can be used to pay for expansion. The drawback is that the business now has to pay rent on the property. I think that by now with all these collected information, I can easily produce a Business plan and then a cash-flow forecast and maybe a profit forecast. I will do this with some help from a bank. This particular bank has given me the resources of making a business plan and a cash-flow forecast. The cash-flow forecast and the business plan is based on my research and will be seen at the next page. Business Studies coursework (Accounting and Marketing) Page (___) ...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 ICT in Business 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 ICT in Business essays

  1. Marked by a teacher

    Unit 4 Business Studies

    4 star(s)

    Also by providing efficient information on their website which is entirely relevant to the sale of the car it helps Cars Direct achieve their aim and it will also help persuade the customer to purchase a car from Cars Direct.

  2. Business Aims and Objectives.

    line manager and, ultimately, the chief executive or head of the organisation. Large organisations such as Tesco have a health and safety officer who has overall responsibilities for health and safety policies and training. In others, there may also be a safety committee, made up of representatives from management and employees.

  1. The business I am going to set up is a snooker club,

    �685.95 Blue Including VAT & FREE delivery Top of Form Bottom of Form I will purchase two 6foot pool tables from Leisure accessories.com Lights Metal & Brass Pool & Snooker Table Lights Pool or Snooker table lights. Available in Green or Blue.

  2. A description of the use of ICT for internal and external communications of the ...

    to create a company known as GlobalNetFxchange. EDI is a network link that allows retailers to pay suppliers electronically without the need for invoices and cheques, thus dramatically reducing time, paperwork and costs. * Video conferencing: Video conferencing has improved out of all recognition as a result of the development of digital systems.

  1. In this assignment I am going to produce a detailed business report on a ...

    They aim to differentiate their market and they try to make the promotion strategy to the market they are aiming at. Tesco has a wide of operation and wants every one to buy their product. Its aim is to get full time loyalty from their costumers and to carry on increasing their goods for the costumers.

  2. AN UNDERSTANDING OF THE NERVOUS SYSTEM

    Parkinson's disease has a deficiency of the neurotransmitter dopamine. Progressive death of brain cells increases this deficit, causing tremors, rigidity and unstable posture. L-dopa is a chemical related to dopamine that eases some of the symptoms (by acting as a substitute neurotransmitter) but cannot reverse the progression of the disease.

  1. Business report on Marks and Spencer.

    to satisfy the needs of customers. Quality assurance and quality control helps to Adding value is then added to products and services during they are being produced, adding value to a product simply means making it more desirable to the final customer, this is so customers are willing to buy more products at higher prices.

  2. Business at work Mcdonalds.

    The outputs are the products or services that are offered to the market. For instance, the inputs at McDonald's for a franchisee are * The place to build the restaurant * The effort and time of the employees * Money to invest in the restaurant * Equipments like machinery, tools etcetera.

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