new stuff

Question 1

statement of financial position purpose

Answer 1

• states value/net assets
• informs decision making
• compare with competitors
• used by investors to see possible returns
• legally required

Question 2

Public Relations use

Answer 2

• sponsorships
• charitable donations
• press release
• public statements

Question 3

Benefits of cash budget

Answer 3

• allows to plan ahead
• delegate budgets to departments to keep them on track
• monitor performances
• aids decision making

Question 4

Legislation

Answer 4

• Health and Safety Act: new fire alarms and smoke alarms have to be installed and checked constantly, staff have to be trained to use them
• Equality Act: cannot discriminate when recruiting, staff need trained on how to deal with discriminatory situations
• Minimum Wage: can be costly