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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.

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