HRM
Finance
Insurance
Taxation
Ratios
100

A meeting between employee and HR manager which reviews their performance and can set goals for the future

Performance appraisal

100

How long do you have to repay medium-term finance?

1-5 years

100

Type of insurance which protects the business if a customer gets injured on their premises

Public liability insurance

100

Tax on the profits made from the sale of assets

Capital Gains Tax

100

What is the ideal current ratio?

2:1

200

What are the two key parts of a job advertisement?

Job description and person specification

200

3 ways to deal with a cashflow forecast deficit

Increase receipts

Decrease payments

Avail of a source of finance


200

This person will calculate the amount of compensation the insured person is entitled to

Assessor

200

Give 4 features of the PAYE system

Direct tax

Progressive tax

Two rates - 20% and 40%

Standard cut off point €42,000

Tax on income (wages/salary)

200

What is a liquidity problem?

A business not having the ability to repay short-term debts.

300

What does a human resource manager do to assess the amount of employees that are currently in the business as opposed to the amount that are needed?

HR audit

300

Solution for each short term problem below:

Wages 

Buy raw materials 

Crisis situation

Wages - bank overdraft

Buy raw materials - trade credit

Crisis situation - debt factoring

300

Calculate the compensation owed.

Value = €610,000

Amount insured for = €521,500

Claim = €13,700

€11,712.38

300

Name 3 examples of tax credits

Single person tax credit

Married tax credit

PAYE tax credit

Carers tax credit

Dependent relative tax credit

Flat rate expenses tax credit

300

What is the return on investment (ROI) formula?

(Net profit/Capital employed) x 100 = %

400

3 financial rewards

Bonus, Commission, Employee Share Purchase Plan, Employee Profit Sharing

400

True or false - Leasing payments are tax deductible

True

400

Explain two types of insurance that households have but businesses do not

Health insurance

Life assurance

400

True or false: Businesses do not have to pay Local Property Tax (LPT)

True

400

Give 2 limitations of using ratios to analyse a businesses financial position

Based on inflation. Does not account for inflation. Does not consider the business environment. Does not account for employer/employee relations.

500

Type of training where employees watch what existing employees do and learn from them

Shadowing

500

What is the difference between a long-term loan and debentures?

Long-term loan: original amount borrowed is repaid with interest. Debenture: interest-only repayments and the original amount borrowed is repaid at the end as a lump sum.

500

Principle which states once you receive compensation you give up the right to further claims

Subrogation

500

Only businesses who earn over € _______ million annually have to pay 15% corporation tax in Ireland

€750 million

500

Calculate the gearing ratios.

Long-term loan €310,000. Reserves €26,500. Issued share capital €410,000.

0.71:1