Unit 3 Accounts & Finance Financial Accounts. Learning Objectives To be able to explain the purpose of accounts To evaluate the importance of final accounts.

Slides:

Advertisements

Similar presentations

Financing the Business Chapter 36. How are they different? The easiest way to separate accounting and finance is to think of accounting as the past and.

Advertisements

Accounting and finance Introduction to accounting.

Lead Black Slide Powered by DeSiaMore1. 2 Chapter 2 Business Fundamentals.

This is NOT a complete review of Chapter 2 & 3. You must still study your notes and chapter reviews from your electronic workbooks and read the Key Concepts.

Business Accounting GCSE Business Studies tutor2u™

Essentials of Accounting Systems Finance for Non-Financial Entrepreneurs and Managers.

Uses of Accounting Information and the Financial Statements

Financial Accounting, Sixth Edition

1. Writing everything down on paper will help you visualize all the aspects of your business 2. It will help you convince banks and other potential investors.

Aim:  To understand the relationship and conflicts between aims, missions, objectives and strategies. Objectives:  Discuss the aims and objectives of.

Tax Accounting.

Principles of Business, Finance, and Marketing

Introduction to accounting Debbie Gahr. Accounting  It is an information system that reports on the economic activities and financial condition of a.

1 The Role of the Finance Department Higher Grade Business Management 2009.

GAAP PowerPoint #4.  A formal record of the financial activities of a business  Includes four basic financial statements: ◦ Balance Sheet (Statement.

Dr. Mohamed A. Hamada Lecturer of Accounting Information Systems

ACCOUNTING FUNDAMENTALS UNIT :5 CHAPTER 29 PAGE 528.

Business Education Department - Standard Grade Administration.

The Finance Department

ACCOUNTING TRANSACTION CYCLE

ACCOUNTING - AN INTRODUCTION BY: WAQAR AHMAD LECTURER MANAGEMENT SCIENCE DEPARTMENT RANA UNIVERSITY KABUL, AFGHANISTAN.

3.5 Financial Accounts Chapter 22. What are ACCOUNTS? Financial records of business transactions which provide information to groups within and outside.

STAKEHOLDERS Definition: People who have a key interest in the business.

Stakeholders. DO NOW Page 71 Tata Nano Divides Opinion answer all questions at the top of page 72.

Cash Flow Statements Week 3.

Introduction to Accounting Written by Ruby Ann Sawyer, Brantley County Middle School.

WRITTEN BY RUBY ANN SAWYER, BRANTLEY COUNTY MIDDLE SCHOOL Introduction to Accounting.

WEEK 1 INTRODUCTION Interpret Financial Information.

N4 BUSINESS IN ACTION/N5 UNDERSTANDING BUSINESS HOW DO SMALL BUSINESSES OPERATE HOW DO BUSINESSES ORGANISE THEIR ACTIVITIES.

1. The efficient management of finance is important to the success of an organisation. 2.

DEFINITION. The American Accounting Association defines Accounting as follows:

CHAPTER 1 OVERVIEW OF FINANCIAL STATEMENT ANALYSIS.

Chapter 1 Uses of Accounting information and the Financial Statements.

The Role of Financial Planning By Brooke, Chris and Jake.

1 Copyright © 2013 McGraw-Hill Ryerson Limited Learning Objectives LO4Explain the three categories of cash flow reported in the cash flow statement and.

Business & Management Topic 1 Stakeholders. Learning Objectives To know what is meant by a stakeholder Be able to differentiate between internal and external.

USES AND USERS OF INFORMATION. Learning Intentions Know the purpose of analysing financial information Know the purpose of analysing financial information.

1 Information Flows Tracey Murray. 2 THE PURPOSE OF INFORMATION The function of information in an organisation is to serve the needs of each department,

Lim Sei cK.  Cash flow describes the movements of cash into and out of a business  When you look at the bank statement of any business, you soon.

Accounting: Measuring how Efficiently and Effectively Resources are Creating Value and Profit © 2007 The McGraw-Hill Companies, Inc., All Rights Reserved.

Using Financial Ratios A2 Business Studies. Aims and Objectives Aim:  To understand how to use financial ratios. Objectives:  Explain the uses of financial.

The purpose of accounts LO: To know what different views different stakeholders would have of company accounts.

Lecture 1.  Accounting is “the language of business.”  More precisely, accounting is a system of maintaining records of a company’s operations and communicating.

Introduction to Accounting 8 th grade Mrs. Stovall.

Accounting: Introduction Mr. BarryA-level Accounting Year 12.

Look at the following infographic

Section 2Accounting: The Universal Language of Business What You’ll Learn  How the accounting system works.  Who uses financial accounting reports. 

Financial Analysis of a Business

The Accounting function Understand the accounting function within an organisation.

Lead Black Slide. © 2001 Business & Information Systems 2/e2 Chapter 2 Business Fundamentals.

The Role of Accounting. © Hodder Education 2008 What is accounting? Accounting is about accountability. It is a process that involves recording, classifying.

Function of Financial Accounting. Financial Accounting Accounting can be defined as “the process of identifying, measuring and communicating economic.

Lim Sei cK.  Cash flow describes the movements of cash into and out of a business  When you look at the bank statement of any business, you soon.

Management of Working Capital. Balance Sheet A financial statement that summarizes a company's assets, liabilities and shareholders' equity at a specific.

BM Unit 2 - LO31 Higher Business Management Business Decision Areas II Learning Outcome 1 Finance.

HIGHER BUSINESS MANAGEMENT Finance. Content Sources of Finance Cash Budgeting  Analysis  Issues & Solutions Final Accounts  Trading Profit & Loss 

Starter – Think…Pair…Share Explain how ICT can be used to support the following tasks: Payroll Personnel Independently think of a suitable response (2.

BALANCE SHEET. Starter – DON’T LOOK IN BOOKS !!! What does a Trading, Profit and Loss Account show? What does an Appropriation Account show? How is it.

Cash budgeting. What is a budget?   An agreed plan of action for a period of time   A financial plan shown in monetary terms   Sets out financial.

October 21,  The purpose of accounting is to provide the necessary financial information so that accurate and timely decisions can be made.

Accounting Defined. What is accounting? The systematic and comprehensive recording of financial transactions pertaining to a business. In layman's terms.

Finance and Accounts.

The Role of Accounting in Business

1.01 Generally Accepted Accounting Principles – Financial Statements

STAKEHOLDERS WHAT ARE THEY?.

Information Flows.

The Role of the Finance Department

Stakeholder perspectives

1.01 Generally Accepted Accounting Principles – Financial Statements

Finance for Non-Financial Managers

Presentation transcript:

Unit 3 Accounts & Finance Financial Accounts

Learning Objectives To be able to explain the purpose of accounts To evaluate the importance of final accounts to each stakeholder group

Financial Accounts It is essential for businesses to keep detailed records of purchases, sales and other financial transactions Accounts are financial records of business transactions Accounts are needed in order to provide essential information to internal and external stakeholders

Task Next to each question write down the name(s) of the stakeholder(s) affected -How much did we buy from our suppliers and have they paid yet? -How much profit did the business make last year? -Is the business able to pay wages next week?

Stakeholders and account information Different stakeholders will use accounts for different purposes Create spider diagrams for the main stakeholders and how they use business accounts Managers Measure the performance of the business to compare against targets and competition Help take decisions, eg. investments Control and monitor the operation of each department Set targets Banks Creditors (suppliers) Customers Government Investors Workforce Local Community Banks Creditors (suppliers) Customers Government Investors Workforce Local Community