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AS and A Level: Accounting & Financial Management

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  • Marked by Teachers essays 4
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  1. Marked by a teacher

    Evaluate how Cash flow forecasts, Break even charts, Profit & Loss statements and Financial recording systems can contribute to managing business finances Distinction

    3 star(s)

    They are the standard way to find where your business will peak and trough in its revenues. It is also a handy way to see how much money your business has recently if it is up to date, since it lists closing balances. You can also check your trading profit (Sales capital minus costs) and revenue, (Capital from sales) whilst also having your capital from last month and costs from the current month easily displayed. These are helpful for a business because they are quick and relatively easy to make. They can be flawed sometimes because people can sometimes not make realistic estimates or consider all factors, which can result in the company being too optimistic or pessimistic in spending and sales.

    • Word count: 1112
  2. Marked by a teacher

    In this assignment I will talk about why costs and budgets need to be controlled and the advantages and disadvantages of controlling costs and budgets. I will also explain what can happen to a business if costs and budgets are unmonitored.

    3 star(s)

    In a business organisation, a budget represents an estimate of future costs and budgets. Budgets may be divided into two basic classes: Capital Budgets and Operating Budgets. Capital budgets are directed towards proposed expenditures for new projects and often require special financing. The operating budgets are directed towards achieving short-term operational goals of the organisation, for instance, production or profit goals in a business firm. It is crucial for a business to control its budget. Budgets help the business to determine whether they have enough money to raise the business or generate more profit.

    • Word count: 1142
  3. Marked by a teacher

    Business resources D1

    3 star(s)

    This would improve the performance and success of the business overall. If a business manages its costs efficiently then it would improve the success and performance of the business. If a business employs the right amount of workers it needs then it would reduce the cost of the business. Another benefit if the business employs the right amount of staff is that the business will have more productive workers. Another advantage if the business employs the right number of staff would be that they would have enough money for other areas of the business.

    • Word count: 1213
  4. Business Skills in travel and tourism. Scenario: you have just finished school and are now working as a travel agency. The agencies manager has decided to create a handbook on financial and administrative procedures. As you have just received training and

    You would have to record the customer's details and the details of the product that the customers booked. A copy of this information needs to be given to the customer so that he or she knows what has been paid for and to give the customer peace of mind Invoices Invoices must be sent out with every item that has been bought on credit. This is done because the customer has to nave a statement of how much he/she has paid for the product and the balance which is owed to be paid. An invoke should include all the details of the product or services that are being purchased as well as a statement of the account to date and amounts received.

    • Word count: 1040
  5. Calculation of Future Values Exam Question - Given the recent drop in mortgage interest rates, you have decided to refinance your home.

    (Refer P.V.A table) = 17,077 for 1 year 12 = 1,423 for one month @ 8% Q2. Ramesh and Laxmi wish to buy a new home. The price is Rs56, 500.00 and they plan to put 12% down. New Rahat Savings and Loan will lend them the remainder at a 12% fixed rate APR (Annual Percent Rate) for 30 years, with monthly payments to begin in one month. (Ignore taxes.) Suppose Ramesh wants to pay off the loan in 15 years.

    • Word count: 1787
  6. Income Tax Liability Case. Before advising Ian Smith we need to perceive following technical questions whether any of the proceeds from the sale of his furniture on 14th, 25th, 27th and 30th January 2009 should be included in his assessable income.

    Application of the indicators There is no simple answer to whether you are in business or not, it depends upon the facts in each case. However, we can use the following indicators to help us determine whether Ian's above activities amounted to carrying on a business or not. Is there repetition and regularity to above activity? In Ian case the transaction has been commenced not before then 14 Jan 2009 and after 30 Jan and till April 2009. Therefore it is come into view that Ian is playing a role irregularly as the work is not as much as profitable

    • Word count: 1366
  7. Balance sheets and banks assets. Likely effects of the recession on business.

    Ratio 1. Leverage ratio = total equity�total assets . 2.Capital Ratio = Total Equity � sum of risk-adjusted assets . I A4. In order to restore its capital ratio level to the legal minimum a bank has two major options; 1. Increase total equity * Find new investors to put in money and thereby increase Equity * Delay the payments of dividends thereby increasing retained profits. * Improve profitability, either by increasing its loan rates & bank charges, or by laying off staff and closing underperforming branches (or both).

    • Word count: 1341
  8. The final accounts should be a true reflection of the financial state of a business on a particular date, however, there are several ways that a business can make its final accounts look good or even bad, therefore Im going to talk through the differen

    D Simpson's accounts are all good but their may have been ways he changed them, I'm going to discuss the different way he may have changed them, this is known as window dressing. Intangible assets Intangible assets are something that can't be picked up or touched. For instance a customer may make a purchase on an item because of its brand name, or reputation. This is a value to the business, if the business is to be sold this shows a big value to the business from a brand name.

    • Word count: 1035
  9. The Changing Nature of Management Accounting and the Emergence of HYBRID Accountants

    In this essay there will be a discussion of three main points. Firstly, the history and development of management accounting. Secondly, factors which influenced management accounting to change its role. Finally, the new management accounting role. The history and development of management accounting: There are not many publications on the use of accounting data's history for decision making purposes. The aspect of decision making led to the current development of management accounting (Parker, 1994, p: 408). Focusing on the management accounting history is important to explain the current and future circumstance of management accounting.

    • Word count: 1692
  10. TO WHAT EXTENT HAS THE ROLE OF MANAGEMENT ACCOUNTING CHANGED ?

    Secondly, spotlight on the new so-called "hybrid" management accountant. The authors state that There were some external factors have been claimed by managers and accounting directors to influence management accounting to change. Firstly, the global competition of the economic state of the 1990s. The extent to which the claims of increased competition, rather than effects from the economic circumstance, which that is accountant and managers' conception and how they can observe the economic climate is actual. If it does matter to increase the competition and the focusing on consumers, that can be done by just rhetoric.

    • Word count: 1307
  11. Budgeting. By setting up a budget it will allow me to see the where I am spending my money and allows me to control spending in certain areas.

    Therefore I will buy it at the beginning of the year before my business starts so it is ready for use when my fast food restaurant opens. However, I have decided to but the pizza cutters and trays every 6 month months because these equipments are more likely to get lost and damaged due to wear and tear therefore by ordering these every 6 months, it ensures that I will always the best quality equipments to work with. The figures in the capital budget were gained from my operational planning where I looked up the price from various websites such as Argos, eBay and Amazon.

    • Word count: 1230
  12. Sources of financing expansion

    If that person uses their savings to invest in their own or another business, then this source of finance comes under the heading of personal savings. This is good from of financing a business expansion for all types of businesses as it enables them to use their own money and working on your own proposal. With this come advantages and advantages of using this source. Firstly advantages: no worry about repayment, no interest rates, and also helps contributes to other source of financing expansion, for example banks will be convinced that you will get their money back as you have your money in the business.

    • Word count: 1635
  13. fraud

    • Word count: 1552
  14. Should ducati enter the car market

    This chart shows clearly that since 2005 sales of cars have generally been declining. In 2008 the total number of new resgistration was 2,131,000 which was a decrease in growth of -11.3% compare to 2007. Furthermore the sales dropped to 1,995,000 new registration cars registerd in 2009, which was a decrease of -6.4%. This shows that in the current climate the car market is not doing well as sales drop and growth stops. This could mean that if Ducati were to enter the car market it would really struggle because customers would want to buy a car from a company with a good history to reassure them that the cars would be reliable.

    • Word count: 1744
  15. External auditing and societies

    The primary objective of an audit of financial information is to allow an auditor to express an opinion as to whether the financial statements show a true and fair view. The financial information does not have to be accurate as it would be impossible to enforce. This is due to accountants making their own judgements on accounting policies such as estimating depreciation which is never completely accurate. There are however subsidiary objectives identified by Millichamp (1981, p3) to be recognised were: 1)

    • Word count: 1705
  16. ACCURAL_BASED_ACCOUNTING_AND_CASH_BASED_ACCOUNTING

    Instead, if you had been using the accrual based accounting for the same purposes, telephone bills again, when you don't pay your bills and have some earnings it looks like you have good income because you don't pay your bills, so you have earned. It does not really show what actually is occurring in the business so there is a majority of distortions. As we said, accrual accounting receivables and payables are recognized when a sale is agreed to, even though no cash has been received or paid out as yet.

    • Word count: 1043
  17. Business plan - Financial Management in business and the use of ICT.

    Running costs Running costs are the things that the business needs to keep buying and replacing such as stock.. Running costs also include phone bills and items that you need to pay constantly for example monthly. They will have to be paid constantly throughout the year and it is very important to buy the right amount of stuff, because if you buy too much one month then in cases such as perishables, e.g. the food for the cafe, if the food is not sold then it is wasted and the company loses money and would not be able to have

    • Word count: 1992
  18. Interpreting financial performance using a range of ratios

    Gross profit margin This ratio shows the relationship between the figure earned through sales and the cost of sales. It shows the gross profit amount earned for every �100 worth of sales. Gross profit X 100 = Gross profit margin Sales The calculation for Whitbread plc gross profit margin is as follows: 2001/2 466.3 2014.3 = 0.23149 X 100 = 23.15% 2002/3 441 1794.1 = 0.2358 X 100 = 24.58% By looking at the figures for Whitbread plc it shows that in 2001/2 the gross profit margin percentage was 23.15%, however in 2002/3 it has increased to 24.58%, this could be due to such changes in aspects such as suppliers, or securing discounts for bulk.

    • Word count: 1344
  19. Sources of finance

    However, the prediction of the banks was proven to be wrong as the value of housing rapidly dropped as demand decreased due to the high prices. As demand declined house value became lower than the mortgages resulting in a large amount of foreclosure. This crisis continued inevitably affecting the stock market as financial institution reported large losses. Financial institution became unable to lend, thus slowing down economic activity resulting in a steady decrease in demand for goods and services and the bankruptcy of large corporation such as Lehman brothers and General Motors.

    • Word count: 1867
  20. Evaluate the adequacy of accounting ratios as a means of monitoring business health in a selected organisation, using examples.

    Ordinary shareholders are who in fact owned the business and they are the ones that take the risk of accepting the money from the shareholders because they would have to pay back the shareholders if the business goes in loss and they may have to shut down. I do not think that having shareholders in a business is good, because the business doesn't stay yours. You will be funded by the shareholders however you will have to give the shareholders back a percentage of money in a limited period of time or by giving them the payments in months.

    • Word count: 1109
  21. Investigating Business Resources Unit 2 P3

    It is often used as a short term source of finance (e.g. selling a vehicle to pay debts) but could provide more longer term finance if the assets being sold are very valuable (e.g. land or buildings). If a business wants to use its assets, it may consider sale and lease-back where it may sell its assets and then rent or hire it from the business that now owns the assets. It may mean paying more money in the long run but it can provide cash in the short term to avoid a crisis.

    • Word count: 1411
  22. Report detailing an analysis of Gary Tredwells Cash Flow

    Your sales gradually increase towards august and is positive but not by a lot, only by �115, unfortunately you are still left with a negative closing balance. Credit Sales: Issue: Credit sales this is when a product is sold to a customer on credit, which means they receive the product before they have paid for it, normally the customer will start to pay it off a month after purchase. This method is used to gain more sales. In your business case selling on credit has gained your more sales as credit sales have increased each month the highest point increased to 1500.

    • Word count: 1252
  23. developing ustomer Relations

    Customer needs: Customer service involves to your liking customer needs, the next step is know how to identify these. All customers contact an Organisation because they need something. Customer expectation: When any customers contact an organisation they are expecting positive fairly obvious things to happen such as being treated honestly and politely. Customer needs and expectations All businesses aim to provide good customer service but some are more successful than others. Those that are well known for providing excellent customer care are often those with the following characteristics: * They understand what customer service really means.

    • Word count: 1376
  24. Assignment 2-Unit 1 Exploring Business Purpose

    The beast objectives are SMART SMART stands for: Specific - There is a clear definition often including a number for example saving �20 a week. Measurable- This means achievement can be checked. Banking your saving mean your bank statement will record and measure your achievement. Achievable- This means you attain your target if you stretch yourself a litter- so saving �20 a week may be achievable without having to make too many sacrifices. Realistic-This means the target is sensible so that you stand achance of achieving it you could not save �20 a week if you did not have a job that paid at least that amount.

    • Word count: 1452

Conclusion analysis

Good conclusions usually refer back to the question or title and address it directly - for example by using key words from the title.
How well do you think these conclusions address the title or question? Answering these questions should help you find out.

  1. Do they use key words from the title or question?
  2. Do they answer the question directly?
  3. Can you work out the question or title just by reading the conclusion?
  • compare and contrast financial and management accounting

    "In conclusion, all three writers/authors agree that the social and economic change in the past has pushed the change barrier further and further. As the society continues to change, so also will be change in organisation strategy in the use of information in making quality decision in the running of their affairs. The nature and effect of government legislation in the control of a more global organisation not only has contributed, but will continue to contribute to further development of financial and management accounting in the future. Organisations that are not ready for a re-think will further find they are unable to face competition in the new global market."

  • Identify and evaluate costs involved in the purchase of business assets.

    "As you can see that loan has been spread out over 2 years and each month is paying 532 pound also by leasing the van this cost us 124.99 pound a month. This saves us 10,000 pound year as shown in the highlighted box. With the �10,000 she can invest this in the bank and gain interest for the money invested. 1 2 3 4 5 6 RECIEPTS Capital �5,000.00 Sales(France) �0.00 �360.00 �360.00 �720.00 �540.00 �550.00 Sales(UK) �605.00 �630.00 �1,010.00 �1,025.00 �1,200.00 �1,290.00 Total Receipts �5,605.00 �990.00 �1,370.00 �1,745.00 �1,740.00 �1,840.00 PAYMENTS Raw Materials(France) �190.00 �190.00 �380.00 �285.00 �290.00 �187.50 Raw Materials(UK) �247.50 �255.00 �415.00 �417.50 �490.00 �525.00 Electricity �65.00 �65.00 �65.00 �65.00 �65.00 �65.00 Rent for garage �75.00 �75.00 �75.00 �75.00 �75.00 �75.00 Advertising �50.00 �0.00 �50.00 �0.00 �0.00 �50.00 Ferry Fees �50.00 �50.00 �50.00 �50.00 �50.00 �50.00 Sues Other Wages �400.00 �400.00 �500.00 �500.00 �500.00 �500.00 Car boot fees �40.00 �40.00 �40.00 �40.00 �40.00 �40.00 Van running expenses �30.00 �30.00 �30.00 �30.00 �30.00 �30.00 loan �532.00 �532.00 �532.00 �532.00 �532.00 �532.00 Small Van �124.99 �124.99 �124.99 �124.99 �124.99 �124.99 Total Payments �1,804.49 �1,761.99 �2,261.99 �2,119.49 �2,196.99 �2,179.49 Net Cash Flow Per Month �3,800.51 -�771.99 -�891.99 -�374.49 -�456.99 -�339.49 Opening balance �0.00 �3,800.51 �3,028.52 �2,136.53 �1,762.04 �1,305.05 Closing balance �3,800.51 �3,028.52 �2,136.53 �1,762.04 �1,305.05 �965.56"

  • Assess Effects of Corporate Personality

    "Conclusion Corporate personality has had a significant affect in forming company law over the last centuries, and the Salomon case has been a crucial benchmark to company law and is still being used in courts today. However, there is a need for more clear definition in key concept and a solid framework, where as when to lift the veil or who should be liable and what is mere fa�ade etc. Or would the future of company law revolutionise and abandon the Salomon theory?"

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