provides information in quantitative terms about requirements to achieve a particular purpose?
What is Budgets
100
relate to the main activities of a business and may include budgets relating to sales, production, raw materials, direct labour, expenses and cost of goods sold
What is Operating budgets
100
Relate to capital expenditure and research and development
What is projects budgets
100
Relate to financial data of a business and include the budgeted income statement, balance sheet and cash flows
What is financial budgets
100
are the mechanisms employed by a business to ensure that data are recorded and the information provided by record systems is accurate, reliable, efficient and accessible
What is Record systems
200
is the risk to a business of being unable to cover its financial obligations
What is Financial risk
200
are the policies and procedures that ensure that the plans of a business will be achieved in the most efficient way
What is Financial controls
200
Relates to the short term and long term borring from external sources by a business
What is Debt finance
200
relates to the internal sources of finance in the business
What is equity finance
200
it is a financial statement that indicates the movement of cash receipts and cash payments resulting from transactions over a period of time
What is cash flow statement
300
it is a summary of the income earned and the expenses incurred over a period of trading.
What is income statement
300
is the value of stock that a business has sold to its customers
What is the cost of goods sold
300
is that part of a business's profit that represents operating income minus cost of goods sold
What is gross profit
300
it is the difference between the gross profit and expenses