Business Unit 5 ( Finance )

Question 1

A) What is a Finance Function?
B) What sort of roles do they have?

Answer 1

A) This refers to the Finance Department, usually found in larger businesses. Small business usually employ a firm of accountants to help

B) Calculating Sales Revenues & Production costs
- Calculating profit or less
- Forcasing cash flow
- Managing payments and reciept money

Question 2

What are some different reasons businesses need finance?

Answer 2

1. Establishing ( Setting up ) a new business - When a business starts up, it will need to buy items before it can produce anything.

2. Funding Expansion - If a business wants to expand, they may need to buy a larger factory.

3. Recruitment - It costs money to advertise jobs & select workers.

4. Marketing - Marketing campaigns need to be fundnded.