Applied Business - Unit 3 - 19th May 2014 - REVISION

110% that something with budgeting will come up. Can anyone tell me what a budget/why it's used and adv. and disadv. of it pretty please thanks in advance ladies and lads

110% that something with budgeting will come up. Can anyone tell me what a budget/why it's used and adv. and disadv. of it pretty please thanks in advance ladies and lads

This is really helpful, thanks guys!
What if for question (a) they ask us to write the Advantages and disadvantages to two of its stakeholders? would it be be ok to talk about shareholders and the owner? how would you structure it?

Shareholders are the owners so the other stakeholders could be the employees (managers and BoD), the suppliers as they'll be getting more demand from Hebden Carpets of they're expanding.

I would talk talk about one stakeholder first with the advantages and disadvantages, then talk about the other stakeholder with the adv and disadv for them. The evaluation and conclusion should compare the two stakeholders but bring in new points (relate to case study the whole way through) that could be potential issues for both maybe.

Anyone know how to do the profit and loss? That's a bit tricky, especially looking through past papers


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All the formulas if anyone is interested . .

Basic
Revenue = quantity sold * average selling price
Profit = revenue - total costs
Total costs = fixed costs + variable costs

Breakeven
Breakeven point = total fixed costs / (selling price - variable cost per unit)
Margin of safety = budgeted sales − breakeven sales
Contribution per unit = selling price per unit – unit variable costs
Total contribution = contribution per unit * number of items sold

Cash Flow
Total cash inflow = sum of all cash inflows
Total cash outflow = sum of all cash outflows
Net cash flow = total cash inflow - total cash outflow
Closing bank balance = opening bank balance + net cash flow
Opening bank balance = last months closing bank balance, for your first month if not told opening balance assume it's 0

Hi guys, im struggling to find actual advantages and disadvantages for the stakeholders?

Hi, does anyone know how much we have to write for the first question? My teacher says that because it is ten marks, we have to give 10 points fully explained and in context and then make a justified conclusion.

I was practising the ten mark question and trying to write ten points took me 20 minutes, it took two pages and I didn't even justify it! I know you're supposed to spend only 10 minutes on the first question.

How much are you planning on writing? Since we'll be asked advantages and disadvantages, how many are you writing? If it's the question relating to two stakeholders, how many advantages and disadvantages will you write for each?

Many thanks