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AS and A Level: Accounting & Financial Management

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  1. Different combination of goods and bidding rules could bring an outcome of significant difference.

    When no participant is willing to increase his or her bids more, the item will be awarded to the last bidder who put the bid, he's also the highest price bidder. Dutch auction is the reverse of the English auction, the auctioneer will starts with a high price, and then gradually decrease the price until someone place a bid. Seal- bid is when each bidder writes down their bids on a piece of paper, all the bids were collected and the item will goes to the person will the highest bid.

    • Word count: 1783
  2. Shakleton Enterprises LTD

    three Vehicles (1 lorry, 1 Transit, 1 Motor car) leased from a leasing firm. A separate vehicle (1 Transit) is to be purchased on hire purchase, this will become the company's asset following full payments after a working period of 18 -20 months, and the price will be at market. Taking into consideration the all factors 4- Purchase of Warehouse. This should be carried out in September to ensure that stocks can unsold stock can be housed in the first month of delivery.

    • Word count: 1625
  3. The Wall Street Crash occurred because of a numerous reasons.

    The long-term causes were the division in society and the gulf between the Rich and Poor, the policy of trade by the Republican government and the fact that the Europeans had to pay back war loans, and as a result were unable to buy the surplus goods. 60% of families who were the majority of the population of America could not afford consumer goods.

    • Word count: 542
  4. Discuss the factors which a company may need to take into consideration when determining their dividend distribution and identify the three most commonly used dividends distribution policies.

    This difference in income taxes and capital gain taxes was largely removed in the UK in 1988. Income from dividends in the UK contributes to personal income, which provides the basis for individual personal income tax. Dividends may lift a person into a higher tax bracket so they may prefer dividends to be reinvested, especially if capital gains tax is lower than income tax. Many shareholders may be accustomed to stable or increasing dividends and so will expect a similar pattern to continue into the future.

    • Word count: 1544
  5. Give a concise description of how AZN is financed, with reference to the different sources of capital and gearing levels.

    For AZN these include goods and services2, taxes and short-term loans (includes bank overdraft). Further analysis3 shows that AZN have �150.7m of short-term borrowings from the bank, the break down is shown in Table 2. �m �m �m % Short term borrowings 2001 2000 Variance Variance Bank borrowings Fixed securities 15.5 14.8 3.7 4.5 Secured by floating charge 5.6 7.7 -2.1 -37.5 Unsecured 128.9 64.1 64.8 50.3 Total 150.0 86.6 63.4 42.3 Other borrowings (unsecured) 0.7 2.1 -1.4 -200.0 Total 150.7 88.7 62.0 41.1 Table 2: Detail of Short-term borrowing. Examination of Table 1 and Table 2 shows that short term borrowing makes up 3.3% of all creditors due within one year.

    • Word count: 3972
  6. Fuel Tax

    asthma, bronchitis, and other respiratory disorders. Congestion causes lost opportunity costs from unproductive time wasted. Accidents cannot be measured accurately as the loss of intellectual productivity cannot account for future possibilities. The best way is to allocate efficiency with social cost added to the pricing model. As we see in figure 1: The marginal private cost curve is MPC. D is also the marginal benefit curve. Marginal cost exceeds MPC. In a competitive market, output is Qo, price is Po.

    • Word count: 1544
  7. To what extent do the 2 sources show how Stoke Bruerne was affected by the coming of the canal in 1805 and the railway in 1840?”

    The canal had obviously brought trade to the village from other areas of the country. However, the more drastic effects on the village were on its wealth and fame. There was a lot of traffic around the canal, "succession of moving objects" and "navigation attendants and their cattle bustling to pass a lock" and there appeared to be a lot of business and jobs. There was "freighted boats" and accommodation for the diverse visitors that came to the village, described as a "motley group," the guidebook expressed a frequency of boats and traffic, the "boat after boat" passed through Stoke Bruerne every day.

    • Word count: 1716
  8. Describe why an industry such as nancial services should require regulation.

    Financial regulation protects investors, maintain orderly markets and promote financial stability. There are four main objectives of financial regulations. First is market confidence; this is to preserve confidence in the financial system in the UK. This is to guarantee that markets are fair, efficient and transparent and that individuals and companies have assurance in financial intermediaries and in the money supply. Another aim is financial stability. This is the contribution to the protection and improvement of the stability of the financial system. This is to maintain and raise understanding to the public of the financial system. They will be told of the benefits and risks of the different forms of financial transactions. Consumer protection is another financial regulation aim.

    • Word count: 830
  9. Describe the key features of UK and EU nancial service legislation and regulation likely to inspire investor condence.

    Regulatory bodies also inspire investors in the UK. There are many regulatory bodies including Financial Conduct Authority (FCA). FCA aim to make sure that financial markets work well so that consumers get a fair deal. This means that they ensure that the financial industry is run with honesty, first?s product customers with appropriate products and services and customers can trust that the firm has their best interests at heart. Secondly, Prudential Regulatory Authority (PRA) is another regulatory body. PRA was created as part of the Financial Services Act (FSA)

    • Word count: 1362
  10. Analyse the extent to which issues of nancial service ethics are effectively addressed.

    An example of unethical practice was when financial institutions like bank and building societies mis-sold payment protection insurance (PPI). Banks devised an insurance product that was designed to not pay out due to the strict terms and conditions and began to force customers to buy the insurance when taking out loans, mortgages and credit cards. This was very unethical and the financial services were not taking any duty of care. The Financial Services Authority (FSA) then imposed fines to all banks and building societies who mis-sold PPI and were instructed the institutions to compensate their customers. Lloyds had to pay £9.8billion, Santander £500million and the Co-operative Bank £100million proving that they had to pay large sums of fines.

    • Word count: 1246
  11. Produce a report evaluating the relative significance of solvency and profitability ratios in identifying serious problems of business performance.

    Also you can see if your business is performing successfully or is performing poorly in relative to the figures of another business. In addition, ratio analysis helps in trend analysis which involves comparing a single company over a period of time. And lastly, it can highlight important information in simple form quickly; businesses can explore their business performance by just looking at few numbers instead of reading the whole financial statement. The first ratio is the solvency ratio. This ratio will measure the ability of the business to settle its debts in the short term.

    • Word count: 1294
  12. Analyse reasons for the performance of a selected business by the use of nancial ratios.

    Acid test ratio measures the ability for Alpha Ltd to pay its debts over a period of two or three months without requiring the sale of their stock. Formula: Acid test ratio = Current assets - Stock Current Liabilities = £75000 - £60000 £50000 = £15000 £50000 = 0.3:1 Alpha Ltd’s acid test ratio of 0.3:1 is very close to a typical Acid test ratio of 0.4:1. This means that Alpha Ltd are in a position to settle their short-term debts despite selling their stock.

    • Word count: 3871
  13. Justify a proposed comprehensive and integrated nancial service package that is appropriate for the financial needs of two customers at different life stages.

    In addition to his overdraft he also has a student loan of £13,000. Once Ifter starts work he will be required to pay off is student loan as he will be earning a salary more than £21,000. To work out how much Ifter has to pay I took his salary of £25,000 and subtracted £21,000 which gave me £4,000. I then found out 9% of this which is £360 which I then divided by 12 to get a monthly payment of £30.

    • Word count: 2464
  14. Describe three savings products appropriate to meet the nancial needs of two contrasting customers.

    Premium bonds can give the saver prizes from £25 to £1 million of tax free cash. However, this money doesn’t earn any interest but can be withdrawn at any given time with no penalties. You can enter online or on the phone if you are 16 or over and can invest anything from £100 to £50,000. People ages 17 to 22 can invest in premium bonds as it’s a better opportunity to win some extra cash that they can save. They could also use Direct ISA’s. An ISA is an individual saving account which allows individuals to hold cash, shares, and unit trusts free of tax on dividends, interest, and capital gains.

    • Word count: 6887
  15. Define the terms used in a trading and profit and loss account and balance sheet.

    5. Closing stock ? a business?s remaining stock at the end of the financial year. It includes finished products, raw materials or work in progress and is deducted from the period?s costs in the balance sheets. 6. Gross profit ? The difference between revenue and the cost of producing goods or services sold. It is sometimes expressed as a percentage. 7. Expenses ? money or costs incurred in a business?s efforts to generate revenue, representing the cost of doing business 8. Wages - a fixed regular payment earned for work or services, typically paid on a daily or weekly basis 9.

    • Word count: 916
  16. Illustrate the use of budgets as a means of exercising financial control of a company

    However, budgets can also become a problem. Sometimes budgets can be inaccurate and unreasonable and can cause problems to a business. This is because if they are unrealistic the company are going to be over spending. In addition, if budgets are unrealistic it can unmotivated employees; this is because they will have to work hard to ensure they don?t go over the budgets, but this may be impossible and could lead to lots of stress. Nevertheless, if budgets are too high staff may spend up to budget.

    • Word count: 821
  17. Describe sources of internal and external finance for a business

    Nevertheless, once all the money is gone, they will not have any money to use in the event of an emergency. Sell assets The business could sell unused assets to gain cash. These assets could include machinery or equipment in which the business does not use. This is good for them to do as it is good business practice and they are making use of something they don?t need. In addition, they could rent out part of their property they no longer need which will allow them to gain money.

    • Word count: 1032
  18. Analyse the reasons why costs need to be controlled to budget.

    Furthermore, if they do not control their budget it will also lead to an adverse variance and a decrease in profits. This is because, when businesses overspend than they budgeted for, their costs will go up and the profit will fall; they may even make losses. This means they wouldn?t be able to pay their monthly bills or declare dividends to their shareholders. Additionally, not keeping to the budget will affect other departments in the business. This is because if they overspend in one department they will need extra funds and this money may come from other departments.

    • Word count: 805
  19. Interpret the contents of a trading and profit and loss account of a food retailer.

    Acid test ratio measures the ability for Alpha Ltd. to pay its debts over a period of two or three months without requiring the sale of their stock. Formula: Acid test ratio = Current assets - Stock Current Liabilities = £75000 - £60000 £50000 = £15000 £50000 = 0.3:1 Alpha Ltd.’s acid test ratio of 0.3:1 is very close to a typical Acid test ratio of 0.4:1. This means that Alpha Ltd. are in a position to settle their short-term debts despite selling their stock.

    • Word count: 3875
  20. There are many reasons why the use of ratio analysis will benefit Alpha Ltd

    There are many internal stakeholders who will be interested in Alpha Ltd ratio analysis.2) Internal Stakeholders are anyone within the business such as managers, employees and shareholders. Managers will be interested in Alpha Ltd ratios because they can make use of business ratio to see if they are meeting their business objectives and using their resources effectively ; this will then allow them to highlight where they may need improving. In addition, employees will make use of the ratio to see if the business is stable and their jobs are safe.

    • Word count: 669
  21. Explain the difference between capital and revenue items of expenditure and income for a business.

    This would not affect FF; as they are not a sole trader. Partnership: Partnerships are when two or more people join together to make a business as partners. Each partner would be expected to contribute towards the capital income, hence increasing the potential amount of money available. Partners will share all decisions made in the business as-well as the profits made. Loans that are taken to start the business are still secured by the partners? assets, so this is still a high risked operation.

    • Word count: 1573
  22. Describe the purpose of accounting for an organisation.

    If a business doesnot record its transactions correctly it cannot report it finacial performance accurately and thereforetaxpayment maybe wrong. Monitor Activity: FF?s records must be updated on a regular basis so they have a good indication of how the business is doing in terms of sales, receiving payments, paying expenses and so on. This is useful for FF because they would realise if money going out seemed be on the increase while sales were dropping off, so they could make a change. Monitoring activity should also involve keeping an eye on the bank balance to ensure there are sufficient funds to meet day to day expenses.

    • Word count: 744
  23. Describe the purpose of accounts in an organisation. Explain why it is important to keep accurate financial records

    If the business does not record its transactions correctly, it cannot report its financial performance accurately and therefore tax payments may be wrong. It is very important for Tesco to keep a record of its transactions. They need to be very well focused on the information about the sales and all the expenses. Tesco is a very large organisation so they need to keep records so they can see how much profit they have made or how much loss they had to face compare to the previous month or year. Monitor activity: Records will be updated on a regular(ideally daily)

    • Word count: 817
  24. You need to make judgement on each ratio- does it show the business is doing well? Explain why.

    Alternatively, it may try to increase sales without increasing the cost of goods sold. The gross profit made at every £1 made is 53p. It is okay, it is not that bad but the business could do better. It could be made better by looking for cheaper supplier but the quality of the product should be affected. * Net profit percentage of sales: This is calculated by using the formula: Net profit *100= 8978.64 *100 = 6.310577 Sales turnover 142279.22 This ratio looks at the net profit as a percentage of sales turnovers. This ratio is often referred to as the net profit margin.

    • Word count: 1390
  25. Evaluate the problems you have identified from unmonitored costs and budgets.

    It is also to make sure that we aren?t going overboard on the costs, if we set percentages and if we are going way over or way under the percents then we predicted then we are going to have to find out what is causing it to be so extreme. Another problem can be if we leave our budgets unmonitored, they can go completely out of control.

    • Word count: 521

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