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Finance

Sources and uses of finance

There are a number of ways of raising finance for a business, below we examine the sources and uses of finance. The type of...

Use of personal income

There are a number of ways of raising finance for a business. The type of finance chosen depends on the nature of the business....

Organisations that provide financial services

Banks like Abbey provide a number of important financial services to businesses: Loans provide businesses with expansion capital. A secured loan is one that is...

Financial advice, sources of credit and savings and investments

Sources of finance are where finance comes from. For example, Bank loans,Owner's (share) capital,Trade credit, The MFI case study shows how MFI was able to obtain finance...

Insurance

Insurance is the business of taking on other people's risks. The UK lies at the heart of the world's insurance market. We were one...

Investment appraisal

One of the most important long-term decisions for any business relates to investment. Investment is the purchase or creation of assets with the objective...

Contribution and break-even analysis

An important business objective is to break even i.e. to exactly cover your total costs by sales revenue. It is even more desirable to...

Fixed, variable costs and break-even

The break-even point of a business is the level of output or sales at which the revenue received by the business is exactly equal...

Covering the costs of a new product

Costing is an important aspect of production because: By knowing how much it costs to produce an item or to carry out an activity it...

Costing and profitability

Knowing the cost of an item, or activity makes it possible to calculate the profit of that item or activity. This is very important....

Cost and profit centres

For any business, it is important to have an understanding of how much it costs to run various parts of the company, for example,...

Calculating costs of production

Costing is an important aspect of production because: by knowing how much it costs to produce an item or to carry out an activity it...

Using a cash flow forecast

A forecast is an estimate of future figures based on experience. You can make forecasts about all sorts of events e.g. the weather, the...

Cash Flow management

Budgets are statements setting out the planned performance of a business type in a table made up of numbers. Usually, these plans deal with...

Finance

Businesses need finance for their day-to-day activities and in order to grow and change over time. Businesses must respond to their external environment in...

Budgets and cash flow forecasts

A budget is a plan, which is set out in numbers. It sets out figures that an organisation like a company hopes to achieve...

Analysis of profitability, liquidity and performance

The profit of a business is the difference between its revenues and its costs. It is important to consider two main types of profit: 1.Gross...

The personal budget

A budget is a plan, which is set out in numbers. It sets out figures that an organisation like a company hopes to achieve...

Products that can help you manage your personal finances

Banks provide a number of important financial services to business: Loans Provide businesses with expansion capital. A secured loan is one that is guaranteed by some...

Estimating the profit or loss of a business

By law companies are expected to produce financial statements each year. These statements appear in Company Reports. There are two main financial statements: 1.The profit and...

Using a budget

A budget is a plan, which is set out in numbers. It sets out figures that an organisation like a company hopes to achieve...

Calculating the profit or loss of a business

Two of the most important financial statements for a business are the Profit and Loss Account, and the Balance Sheet. The Profit and Loss...

Aims of finance department

The finance department of a business takes responsibility for organising the financial and accounting affairs including the preparation and presentation of appropriate accounts, and...

Accounting principles

Accounting principles involve the recording and interpretation of business activity in figures (recording accounts). Records are kept of business transactions and full sets of accounts...

Financial records and documents

Accounting involves the creation of financial records of business transactions, flows of finance, the process of creating wealth in an organisation, and the financial...

Understanding a balance sheet

The Balance Sheet gives a frozen picture of one instant of time. The other two financial statements show movements over a period of time....

The importance of business accounts

Business accounts are produced to meet the needs of their users. Typical users and the use they make of accounts are shown below: There are...

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