1. Explain the purpose and use of a profit and loss account: The purpose of the profit and loss account is to: Show whether a business has made a PROFIT or LOSS over a financial year. Describe how the profit or loss arose – e.g. categorising costs between "cost of sales" and operating costs 2. Explain why it is important for a business to prepare a Profit and loss account: Business keeps various types of financial record to monitor its performance and ensure that taxes are paid. These include profit
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Team cohesion is a vital thing it is what keeps the team together after the exercise takes place. team cohesion is about maintaining the team bonding effect and preventing group fragmentation. Any good team bonding activities should include common goals and purpose to ensure that team cohesion is in place in the future; if there is a common goal‚ there will be team cohesion. Team cohesion could be lost if someone is off ill and do not turn up for the team building activates then the team cohesion
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Why is the work of Adam Smith considered so crucial in the development of economic thought? Adam Smith is widely regarded as the father of economics as a social science‚ and is perhaps best known for his work The Wealth of Nations. Throughout this work Smith states and informs towards his belief that society is not at its most productive when ruled over by rules and limitations with regards to trade‚ and that in order for markets to maximise prosperity‚ a free trade environment should be made
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P5: Describe how budgets can be used to set targets to monitor and control an organisation To: Managing Director of Supper Fix From: Date: 28/11/13 This report is to discuss the ways in which targets can be set to monitor and control the organisation. Financial resources in a business can be obtained internally such as the profits from last year’s sales‚ or externally such as a bank loan‚ having management is these areas can ensure the objectives in an organisation are accomplished
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Interpret the contents of a trading profit and loss account and balance sheet for a selected company. Wansbeck Motors Ltd is a limited company‚ there for have to submit their income statement and balance sheet to HM Revenue and Customs every year‚ for larger businesses this could be more often. The Income Statement (Trading Profit And Loss Account) I would also point out the fact that the “trading profit and loss account” is now called an income statement. The income statement was constructed
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1. About non-profits: Briefly describe what type of organization qualifies as a “non-profit” or community benefit organization. An organization that will qualifies as a non-profit organization would be an organization serving homeless individuals with healthcare‚ meals‚ shelter and social services. An example of a non-profit organization in Fresno‚ CA is the Poverello House which offers all the services said above. How does society benefit from having a healthy community of CBO’s? Society
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identification and analysis‚ the Balance of Payments is separated into two separate components namely the‚ Current Account and the Capital and Financial account which deal separately with certain aspects of Australia’s international public and private sector interactions. Resulting trends as a consequence of the calculation and analysis of the Balance of Payments such as the Current Account Deficit and the Terms of Trade become significant economic issues both in Australia and their effect can have profound
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P5-explain the concept of homeostasis P6- follows guidelines to interpret collected data for heart rate‚ breathing rate and temperature before and after a standard period of exercise Homeostasis Conditions in the body have to be controlled with narrow limits. This is called homeostasis. These conditions include water content‚ ion content‚ body temperature and blood glucose concentration. The thermoregulatory centre is the part of the brain that monitors and controls body temperature. The pancreas
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Describe & Evaluate any two theories in developmental psychology Piaget’s (18961980) theory of moral development was based on his cognitive developmental theory. Piaget stated that children’s moral reasoning developed through a number of different stages similar to that of cognitive development. (Eysenck‚ M 2002) Piaget played games of marbles with children of different ages. He wanted to observe their understanding of the rules of that game and how important they thought it was to obey the rules
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P4 Describe‚ with examples‚ the impact of government policies on different public services P5 Identify how society is affected by government policies In the UK‚ policies are in place in order to protect us and help enforce diversity and equality. Sometimes they are not always positively impacted on our society and public services; they can be negative as well. In this assignment‚ I will cover both the impacts of government policies on the public services and how society is affected. Human Rights
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