Revision thread - Accounting (AQA) Unit ACCN1 - 10 January 2012 (pm)

As well as the owners there are many other interested parties (known as stakeholders) [Key term].

These include:
Lenders/potential investors (e.g. banks, entrepreneurs)
Suppliers (cash and creditors)
Customers (cash and debtors)
Government (local and national)
Employees or Trade unions of employees
Competitors
Local community
Pressure groups e.g. Trade unions

What interest may they have?
Lenders/Bank: to ensure that they are repaid amounts due.
Potential Investors: to check whether the business is worth investing in.
Suppliers: to check that they will be paid amounts due.
Customers: to check that they will be supplied with orders made.
Government: to confirm the amount of taxes due.
Trade Unions: to ensure that Mark is offering his employees good terms and conditions.
Competitors: to compare the performance of their business against Mark’s.
Local Community: to provide jobs in the local area.

hey, ive done all the past papers for Accounting unit 1. Is their any website which just has random questions on stuff like cash book, control accounts, trading and profit and loss account? Really appreciate it if someone can give me a website with questions related to unit 1.
Thanks

are we allowed to discuss the paper on this thread straight after the exam?

Guys i have the may 2011 paper electronically i can upload it if you want. btw im not even resitting unit 1.

Yes please upload it! thanks

enjoy