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financial recording system

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Introduction

D1 Mini Introduction In this coursework I will be explaining about how cash flows and financial recording systems can contribute to managing business finances and the advantages and disadvantages of using it. I will show cash flow forecast is useful to JJ Supermarket and will happen if they fail to evaluate the cash flow properly. I will also explain briefly, some of the important ways through which JJ Supermarket records activities. Cash flow forecast is an important recording system to record the cash flow in the business. Cash flow forecast is used by most of the business as it is very useful, although it does have few disadvantages. Below are the advantages and disadvantages of cash flow forecast. Advantages > To JJ Supermarket cash flow forecast is an important way through which it can check the level on which their business is currently performing and how well is it predicted to do in the future. ...read more.

Middle

JJ Supermarket would have problems if the figures are not predicted sensibly. > In order to prepare a cash flow forecast it is important to have lots of time consuming research. > The problem with cash flow forecast is that it is only a prediction. Making decision from this forecast could lead to fatal problems ahead. Cash flow forecast will help JJ Supermarket decide when to take further steps on their business depending on the results from the observation of cash flow forecast. It helps JJ Supermarket by giving them more time to think about solving future problems. It will allow JJ Supermarket to find out about their business and see if there is opportunity to invest any were within the business. With the help of cash flow forecast JJ Supermarket will be able to manage their finances. ...read more.

Conclusion

* Point of sale: point of sales is usually known as the place where the transaction between customer and business takes palace, but it is a hardware used to store the transaction. This hardware helps the forecast by showing the businesses main inflow from the sales of stock. It helps record accurately what products have been sold from what price. * Cash registers: Cash register is an effective way to record all the information about the trading between the customer and the business. It is a very quick way to store information and store money inside it. To conclude this coursework I have proved that business has to make a cash flow forecast despite of its disadvantages it help business in many ways. I have also show some of the important recording systems used by the business in order to prepare an effective cash flow forecast. ?? ?? ?? ?? Unit 3 - D1 Pranav Jadva ...read more.

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