Business Planning & Accounting Flashcards
What is the difference between a balance sheet and income statement?
Balance sheet shows all of the businesses assets and liabilities, Income statement shows performance over a 12month period illustrating how a business earns/ spends their money.
Where might I find a company’s financial information?
Companies house.
What is the CCS framework?
Crown Commercial Service – Brings together direct buying, advice and legislation in order to save the tax buyer money.
What is McBains business plan?
Continue expanding with a focus on public contracts.
Links with universities.
What might be included in a business plan?
CRM, Marketing, budgets, goals, targets, strategies, customers
What is a balance sheet?
Summary of assets & liabilities.
What is an Income statement?
Measures business performance through highlighting income and costs.
What is a Cash Flow statement
Shows how a business has generated cash and spent funds.
What is the difference between a cash flow statement and an Income statement?
the income statement reflecting a business’s performance via its revenues, expenses, and profits, and the cash flow statement reflecting how that profit or loss flows throughout the company—they are both inextricably linked.
