Describe the trends of growth and decline for the sector in which Manchester airport operators and compare with other sectors.
Task 5 Describe the trends of growth and decline for the sector in which Manchester airport operators and compare with other sectors. There are 3 sectors or industries that businesses operate in. These are the: -Primary Sector -Secondary Sector -Tertary Sector Primary Sector: Primary sector is involved in getting resources from the natural world. This includes farming. Primary industries can also be called extractive industries as natural resources are harvested. Examples Include: -Coal Mining -Drilling For Oil -Quarry Secondary Sector The secondary sector is involved in the second stage of production. At this stage the raw materials one made into finished or semi-finished products. Examples Include: -Brewing (making beer) -Steel Manufacture -Construction Tertary Sector: The Tertary sector is sometimes called the service sector. This sector provides services or sells products that can be consumed by customers. Examples Include: -Hotels -Beauty Salons -Clothing Shops -Magazines Manchester Airport is in the tertary sector because: * They sell products such as news agents, clothes shops and electrical shops. * They offer services such as cafes, food hall and flights. * The main service they provide is flights. * They do not manufacture on a large scale. * They do not extract raw materials. This graph shows: Most people work in tertary sector.
Market Survey testing for new products
Business studies course work We needed to find out a suitable product that we could make for are business studies project so we have made a questionnaire with seven questions asking the consumer what they would be interested in buying. I will now explain for each question what we asked and why. Question1: What year group are you in? We asked this question to give us an idea of what age group has been an identified making sure that each year group is identified. Question 2: Would you be interested in buying a school game? -This question was to indicate the number of the products we were going to sell and the amount of products we were going to have to make. Question 3: What features should the game have? -This was asked for the basic reason that we would not make something that was inappropriate to are customers. Question 4: How much would you be willing to pay? -This is to help us indicate what quality it should be and to estimate the total income of the product to tell us if it was going to be a make a profit. Question 5: Were do you think it should be sold? -This was to give use a good idea of were the product would do well and were it would be likely to sell the most Question 6: when do you think it should be sold? -This was to tell us when it would be the best time to sell it and when the consumers would be more likely to be able to buy the product. Question
Basel II target institutions and present expanded scope
Basel II target institutions (whether Basel II was initially for the largest banks in developed countries. Basel 1 was aimed for at international active banks in developed countries1. The Basel Committee focused on facilitating and enhancing information sharing and cooperation among bank regulators in major countries and developing principles for the supervision of internationally active large banks.2(Kaufman, G.G., 2003). Both Basel's were designed by regulators from developed economies to meet the main perceived regulatory challenges and their largest banks faced3. The main criticisms have been in its applications and impacts on developing countries. This seems intrinsically linked to the fact that developing countries are not at all represented in the Basel Committee for Bank Supervision (BCBS). The new framework has been designed primarily for adoption by the G-10, and the basel committee originally expected this group of countries to be ready to implement the framework by the beginning of 2007. Current G-10 members are Belgium, Netherlands, Canada, Sweden, France, Switzerland, Germany, UK, Italy, US and Japan. At the same time, the basel committee recognizes that many non g-10 countries worldwide may wish to adapt the new framework to their own national realities and circumstances, and to have their own timetable for adopting the new rules. Countries from the European
A Day In The Life
A Day In The Life Beep, Beep, Smash! Is the scene in my bedroom at seven in the morning as my alarm clock starts sending out this annoying high pitch sound, which I automatically silence with my fist, then lay back down in bed and wonder why I ever set it the night before or even why I brought it in the first place. Then I realise that I am not going to go back to sleep as my mum comes in and opens my curtains to let the bright sun in, I think she does on purpose to wake me up. After this I sit up in bed thinking what lessons I have for the day ahead and what awaits me at 'Hell' or as it is more commonly known: school. I swing round and as I do so I pick up my crutches, which automatically makes me think back to when I broke my ankle. I remember it all perfectly, it was quite a nice sunny day and I had an urge to grind my rail I have set up for grinding in my back garden, so I put on my soaps and just before I had been out five minutes Craig comes knocking on my door asking if I am coming out. I reply with yes and we go out to the community centre where I see the perfect handrail to grind. So I stand on top of it and push off to grind it on my soaps. I am doing a nice royale down the rail but then half way down I lose complete balance and did the worst stack in the world and landed wrong. At this moment I felt really sick and in pain at my ankle so I look down at it and
Break-even Analysis.
Break - even Analysis To work out my profit (or loss) for the first year of business, I have to compare two things - the expected level of sales taken from my cash flow forecast and the break - even point on the break - even analysis graphs. My cash flow forecast shows that for the first year of business, my expected level of sales will be approximately £58,800. This is the approximate income for the sale of 29,400 drinks in the first year. The expected level of sales is worked out using the number of drinks each person will buy, the number of customers per week, the price of these drinks (on the assumption that there is no special offers, and all drinks are full price), and the number of weeks in each month. The formula for each month looks like this: - Customers x Nº of Drinks x Price x Weeks Total income To work out the number of drinks which I will sell in the first year, I used following formula:- Average nº Customers x Nº of Drinks x Nº of Weeks x Nº of days Total Nº of Drinks The break - even point of my graph, when the price is £2.00, shows that I should be making £72,000 and selling 36,000 drinks within my first of business. These figures are only rough estimates. Having got figures from both my cash flow forecast and break - even graphs for both my total income and total number of drinks, I am able to say that my business, from
Financial accounting
ABSTRACT The primary role of accounting information is to provide information for decision-making purposes. Both financial and managerial accounting rely on the same basic accounting database. However, there are important differences between the two disciplines. Neither financial nor managerial accounting is a subset of the other. They each have a distinct purpose and audience. Financial accounting is defined as measuring and recording business transactions and providing financial statements that are based on generally accepted accounting principles (Matteson, 2004). Financial accounting is concerned with external reports to owners, creditors, and shareholders. One objective of financial accounting is to provide information that is useful in making investment and credit decisions; in assessing the amount, timing, and uncertainty of future cash flows; and in learning about the enterprise's economic resources, claims to resources, and changes in claims to resources. The object of financial accounting is to assist accountants in their stewardship function: the safeguarding of the organization's assets. The central outputs of financial accounting are auditing financial statements such as balance sheets and income statements. By contrast, managerial accounting "measures and reports financial and non-financial information that helps managers make decisions to fulfill the
Financial Management
Financial Management > Understand the meaning of financial management > Know about the various aspects of financial management > Know about the different terms used in financial management > Learn about the importance of raising funds and fund allocation through budgeting Introduction Every organization, irrespective of its size or ownership pattern, has to manage its finances. The overall objectives of an organization cannot be achieved in the absence of financial management. Many organizations fail in their objectives because of financial mismanagement and this failure rate is quite high among the small business enterprises. Hence, financial management is vital for all types of organizations, profit making as well as non-profit making. In case of non-profit making organizations also the effectiveness and performance depends on their financial resources management. Financial Management When we attempt to analyze the financial functions of an organization we find that funds (capital) have to be: > Procured > Allocated for various activities > Used effectively > Monitored Further, the results of all these have to be recorded also. All this brings to fore a three dimensional financial process: > Financial management > Management Accounting > Financial Accounting > All these three are at the same time separate yet overlapping areas of thee financial functions of
A Role of Ethics and Social Responsibilities in Management
A Role of Ethics and Social Responsibilities in Management. Ethics can be defined as a process of evaluating actions according to moral principal of values(A.Alhemoud). Throughout the centuries people were trying to choose between profit and moral. Perhaps, some of them obtain both, but every time it could have roused ethical issues. Those issues concern fairness, justice, rightness or wrongness; as a result it can only be resolved according to ethical standards. Setting the ethical standards for the way of doing business in corporation is primarily task of management. Corporations have to maintain the same standards as an individual person and, in addition, corporations, as organizational units, have their own social responsibilities toward customers, employees and society. However, any business should keep it's original purpose of functioning - making profit. Balancing the traditional standards of profitability and burden of social responsibilities is not an easy task. In recent years it has been a trend of setting standards of corporate ethics according to high degree of morale. To be able to keep the ethical standards management must follow the law. However, there are some complications in enforcing it. The law affects and is affected by social forces and prevailing ethical standards. "Although the law can codify societies ethical
If You Were a Teacher How Would You Teach Personal Finance and What Lessons Would You Want Your Pupils to Learn
If You Were a Teacher How Would You Teach Personal Finance and What Lessons Would You Want Your Pupils to Learn Personal Finance [1] is a term which is used to describe when people manage all of their financial decisions whether they are transactions, borrowings and or transactions. This is an important lesson for pupils because they are at the stage of their personal life cycles when they have a lot of demands such as new phones and games. This makes personal finance ever so important as pupils will be looking to spend. I would make my lessons entertaining as well as give them responsibility. Firstly, the key lessons I would want my pupils to learn will be about managing their money wisely and not being rash to spend it. Another lesson I would want my pupils to learn would be about what need and wants are because a lot of pupils will buy things that they think are good without think about the longevity and the use of the product. This is a very important lesson as people’s wants are unlimited and hence it is good if the pupils understand at an early age that money is a very limited resource hence they should manage it wisely by spending it carefully and looking at the best options to borrow and spend. Secondly, I would teach personal finance over a course of a few lessons and that way I could cause excitement within the pupils to build up and make them look forward to
Management accounting
Management accounting is those areas of accounting concerned with financial planning, principally through the interpretation and use of financial data for important management of the business. The role of accounting is to provide relevant information, which will assist management with decision-making, planning economic performance, controlling costs and improving profitability. However, note that the information generated by the management accounting function is just one component part of the decision-making process. It is not the 'be all and end all'; it must be used in conjunction with other data. The purpose of this essay is outline the objectives of and the main stages in, a managerial planning, decision making and control process and describe the role served by managerial accounting in this process. The aim of management accounting is to provide management with information, which will help them to: * Achieve their objectives/goals. * Formulate policy. * Monitor and assess performance. * Appreciate the financial implications of changes in the internal and external environment in which the organization operates. * Plan for the future. * Make comparisons between alternative scenarios. * Manage more efficiently the scarce resources, which are at their disposal. * Control the day-to-day operations. * Focus their attention on specific issues, which really need their
