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AS and A Level: Accounting & Financial Management
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638,538.00 Total Liabilities and Shareholder's Equity 638,538.00 Maynard Company Balance Sheet as of June 30 Assets Liabilities and Shareholders' Equity Current Assets Current Liabilities Cash 66,660.00 Accounts Payable 21,315.00 Accounts Receivable 26,505.00 Bank Notes Payable 29,250.00 Merchandise Inventory 26,520.00 Taxes Payable 7,224.00 Supplies on Hand 6,630.00 Accrued Wages Payable 2,202.00 Prepaid Insurance 2,826.00 Total Current Liabilities 59,991.00 Total Current Assets 129,141.00 Other Noncurrent Liabilities 2,451.00 Property, Plant, and Equipment Land 89,700.00 Total Liabilities 62,442.00 Building 585,000.00 Less: Accumulated Depreciation 157,950.00
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Hire purchase, dividends proposed and trade credit will also fall within a businesses current liabilities. Businesses current assets are thing that they "have" or own. These can be general things such as stock, unfinished goods and raw materials for stock. These can be the hardest assets to turn into actual cash. The businesses money in the bank and investments are also current assets as well as any debtors the company has and prepayments which are deposits. Working Capital Management & the Problems When looking at working capital is important to analyse where cash is used in the day to day running of Thomas Cook; this can be known as a liquidity cycle.
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This could be a property or land or machine and although it may take a business a long time to pay off it can create profits for the business. Therefore finance would be needed to purchase these good and a long-term source would be ideal. Finance is also used for revenue expenditure and this is day to day finance that the business needs to survive. This can be wages for the employees or current expenses. This generally provides a quick return and therefore short term or medium term sources of finance can be used.
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You then divide this figure by the net flow made every month. This will then give you the number of months that payback will be. Payback: 3years and 7months. Lee Ltd will use the payback method decide which investment will be more efficient for there business. Below is the Table to show the Net flow and cumulative. Year Net Flow Cumulative 0 (150,000) (150,000) 1 38,000 (112,000) 2 41,400 (70,600) 3 44,800 (25,800) 4 50,200 24,400 5 55,400 79,800 Total: 79,800 The table shows that within the 4th year the investment cost will be paid back.
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Two people working together have many different skills, which can be very cost-effective as people specialise and become more efficient in certain parts of their creative business. One partner might be good at selling work and presenting to clients, while another is better at accounting etc. money can be maximised for partnership is called PLC (private limited company) these companies end their name with letters 'plc' is a limited liability company owned by shareholders. The shares in the company are available publicly for purchase through the stock exchange, or they could borrow money from other different areas such as getting a loan from the bank or getting money from friends or family.
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In 1977 Tesco started the "operation checkout" to help them recover from their increasingly poor image amongst council's and the people. Operation Checkout involved scrapping green shield stamps and using the money they saved on gifts for the customers they vastly cut prices. The result in 4% market share increase in just two months. In 1995 Tesco introduced the club card and later on an internet shopping service which in 2006 was the only food retailer to make a profit from the service.
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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.
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If it shows that my business is making a good amount of profit, then they are more likely to give me a loan than if I was making little profit or maybe even a loss. My profit and loss account contains figures gained from various documents I have created such as cash flow and my budget. Similar to me cash flow, my profit and loss if based on estimates therefore the figures can vary considerably. The sales turnover figures on my profit and loss account was gather by quantity sold multiplied by my selling price.
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Revenue income The company earns revenue income by selling products or providing services. Income Generated from Sales Sales can be for cash or as a credit transaction. Cash sales are often best because the business receives the money for the sale immediately. However, business will often have to offer credit facilities to encourage growth in sales. Credit sales involve the organisation supplying the goods or services to the customer but allowing the customer time to pay for the item. Income generated from rent If a business owns property that it rents out to another company or person, the rental income received will be a source or revenue income for that business.
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Tesco are operating their business online because they want their customers to benefit from purchasing products and services. Customers can benefit from using the different services that Tesco provides online such as customer's online help, digital complains, product's promotions and up to date information. Customer services online is one of the main and best services that Tesco provides for their customers. Consumers can benefit from this service because it's a fast result service. This means customers will receive back the answers to any of their questions in few hours. For example, a customer has decided to buy a product from Tesco online but wants to ask few questions regarding the products they are purchasing, for that reason customer
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Primark can also benefit from the local community; for instance; by gaining the loyalty of the local community, Primark can easily retain their customers, the local community will also create an extra awareness of the business, meaning Primark will be able to attract extra customers because the local communities are recommending the business. By providing jobs for the local community, people will benefit as well as the government because the government receives taxes from the employees. Primark also consider the environmental issues, for example they have used 100% recycling bags in order to avoid any unethical trading.
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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.
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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.
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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)
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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.
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The maintenance of accurate records supplies the company with the financial data that assists them to function more effectively, it also helps to make it possible for the company to maximise profit. The key statements are the profit and loss account, bal
The cut in variable cost will result in a lower total cost figure. Furthermore the business will break even at an earlier point therefore the business will generate larger profits, the progress can only be identified if clear and accurate accounts is being produced and kept after a trading period. Legal requirements: The Companies House plays a big role in UK's government as it is an Executive Agency, which falls under the Department of Trade and Industry. A business operating as a limited company as defined by law has to register and publish its financial statements with the Company House
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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
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posters, leaflets, facebook, you tube and even one off stall in the market so people can sign up. Not only advertising is promotion but also using myself to show the quality of my service. Place My business will be based in my house for a year customers will have to come to order but they can have their product mailed to them if they wish. My business will be at my house only for a year. Reasons why business will be placed in this location Because the rent is too expensive in South Norwood an average rent is �700-�900
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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.
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Debit accounts include asset, expense accounts and credit accounts include liability, equity, revenue accounts. Assets are listed first followed by liabilities and then owner's equity. The Trial Balance can be taken at any point in time. It lists all ledger accounts and their balances and is used to see if debit and credit balance. Assets are listed first followed by liabilities and then owner's equity.
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- PowerPoint presentation - PowerPoint presentation are useful for business, because you can present your work in PowerPoint to other companies. It's easy to use and it also looks professional. - Webcam- You can have a business meeting using webcam and you can see each other face to face. - Voice recorder- Voice recorders are useful for business people who want to record their meetings and ideas. They also can record and transfer information to their computer which will make it easy to manage and they can play back their voice.
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m�s sociedades preexistentes, bien sea que una u otra sea absorbida por otra o que sean confundidas para constituir una nueva sociedad subsistente y esta �ltima hereda a t�tulo universal los derechos y obligaciones de las sociedades intervinientes. (Durand rt. J. Latsha. Funsions. Scissions et apports partiels d'actifs. 3ra edicion 1972. Paris) Otro concepto que aplicar�a tambi�n es el siguiente: Es "una operaci�n usada para unificar inversiones y criterios comerciales de dos compa��as de una misma rama o de objetivos compatibles".
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Currently they sell their products in 200 different countries across the world. There is approximately 52 billion servings of all kinds of beverages worldwide, everyday. And out of those 52 billion Coca-Cola accounts for more than 1.4 billion. All over the world Coca-Cola owns 32 beverage concentrate or syrup manufacturing plants. Also they own or have interest on 37 operations with 95 drink bottling and canning plants located outside the US. Because of Coca-Colas large scale it lets it feed the market with no difficulty and enhances its revenue. * Strong growth in three segments The three segments that have grown in revenue the most are Latin America, East, South Asia, and Pacific Rim and Bottling investments.
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Accounting case study. I am writing this report to explain the contents thats on the profit and loss account and the purpose of each element. I am then going to write examples of different ratios for the business.
The opening stock that K Han had at the beginning of the year was �7700. Purchases This is different for different businesses, if it is a manufacturing business that you are talking about then this is the value of raw materials purchased, if you are talking about a service business, then it would be the cost of the things bought to sell to customers or to provide a service to the customers. K Han spent �37,500 on purchases. Purchase Returns This is receipts to the organisation from the suppliers when it returns items.
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