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Erstellt von Jemma Pettinger
vor mehr als 9 Jahre
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Frage | Antworten |
Financial Management- | Is the process of producing and interpreting accounts that record a business's expected or actual costs, revenue and profits. This helps managers to take good decisions. |
Costs- | Are the expenses paid by a business, such as its employees' wages. |
Revenue- | Is the income received by a business from selling goods and services. |
A budget- | Is a financial plan for the future operations of the business. Budgets are used to set targets to monitor performance and control operations. |
A business plan- | Is a detailed statement setting out the proposals for a new business or describing the ways in which an existing business will be developed. |
Cash flow- | Is a measure of the amount of money moving into and out of a business over some time period. |
A sole trader- | Is a business owned and operated by a single person. |
A partnership- | Is a group of between 2 and 20 people who contribute capital and expertise to an enterprise. |
A company- | Is any incorporated business. |
Shareholders- | Are the owners of a company. |
Limited liability- | Provides protection for the owners of a company (normally the shareholders). They only risk the amount they have invested in the business in the event of its failure. |
An internal source of finance- | Is one that exists within the business. |
An external source of finance- | Is an injection of capital into a business from individuals, other businesses or financial institutions. |
A share- | Is a document representing part ownership of a company. |
Assets- | Are anything owned by a business from which it can benefit. Assets include land, vehicles, stocks and brand names. |
Trade credit- | Is a period of grace offered by suppliers before payment for goods and services is due. |
Collateral- | Is the security offered to back up a request for a loan. Usually this is in the form of property, as this is unlikely to lose value. |
Marketing- | Is the management process that identifies, anticipates and supplies customer requirements efficiently and profitably. |
Business objectives- | Are the targets or goals of the entire organisation. |
Profit- | Measures the amount by which revenues received from selling a product exceed the total costs involved in supplying it over some time period. |
Human resources- | Are the people who work within an organisation, including office staff, operational and shop floor employees, and managers. |
Physical resources- | Are an organisation's fixed assets such as premises and vehicles, as well as tangible items such as stocks of raw materials, components and finished goods. |
Financial resources- | Are a business's cash and capital resources. An assessment of a business's financial resources involves examining profits and profitability as well as cash flows, working capital requirements and company financing (that is, loans, share capital and reserves). |
Allocative efficiency- | Is the process of distributing resources effectively so that the minimum number of resources are in the right place at the right time. |
Fixed costs- | Are costs that do not vary with the level of output. Fixed costs exist even if a business is not producing any goods or services. |
Variable costs- | Vary directly with output. They include labour, fuel and raw materials. |
Total cost- | Is the sum of fixed and variable costs. |
Semi-variable costs- | Are expenses incurred by a business that have fixed and variable elements. |
Revenue- | Is the income a business earns from selling its goods and services. |
Breakeven- | Is the point at which a business sells exactly the right number of products so that its revenue equals its costs. In other words, at breakeven the business makes no profit but also incurs no loss. |
Margin of safety- | Is the amount current output exceeds the amount necessary to break even. |
Cash flow forecasts- | Are detailed estimates of when and how cash is expected to flow into and out of a business. |
Cash inflows- | Are money received by a business from sales, investments or loans. |
Cash outflows- | Are money that leaves a business through paying for wages, materials, marketing, fixed assets, etc. |
Trade credit- | Is arrangement in which suppliers allow customers a period of time (usually one or two months) to pay their bills. |
Working capital- | Is the excess of current assets over current liabilities. |
Variance analysis- | Is one of the methods used to monitor company performance. It is the comparison of what actually happened with what the business budgeted (planned to happen). |
An adverse variance- | Occurs when the business's actual results are worse than those anticipated and planned for in the budget. |
A favourable variance- | Occurs when the actual results are better than those anticipated and planned for in the budget. |
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