M4 - Analyse the reasons why costs need to be controlled to budget? Introduction: For this task I will be analysing the advantages and disadvantages about the business that Brad owns which involves transporting business people to and from airports using luxury cars and limousines. Addition to this I will also be explaining what the words budget, fixed, variable and total costs mean. One of the main topics that I will be covering is the fact that if Brad does nothing with his costs what the
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too much money • Difficulty in predicting costs When being overdrawn on consecutive months you should look to cut back on immediate expenses such as insurance, suppliers, rent and employees. You could also increase product prices however you have to bare in mind whether the customers will pay that little bit extra to pay for the product. Another option, but more risky, is to gain more credit from creditors but this will bring interest costs and adds another liability for the future. When
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M4-Analyse the reasons why costs need to be controlled to budget. In my report I’m going to analyse the reasons why costs need to be controlled and why businesses set budgets as targets or limits. I am also going to use the figures from the income and expenditure for the business Hairliners and going to explain the reasons why Headliners needs to use a budget to control their costs. Costs and budgets need to be controlled in order to know what is received and spend. For instance, if costs and budgets
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M4 analyse the reasons why costs need to be controlled to budget. For M4, learners should show an awareness of the problems that can arise if costs are not controlled to budget. This can be demonstrated by looking at a given scenario and breaking down the various elements of the budget to determine why it is overspent and by identifying the problems that this will create for the selected organisation. Introduction: if prices don't seem to be controlled by a corporation then their prices
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M4 – Analyse the reasons why costs need to be controlled to budget. Introduction – for this assignment I will be analysing the advantage and disadvantage about the business that brad owns, which involves transporting business people to and from the airports using luxury cars. Furthermore I will also explain what the word budget, fixed, variable and total costs means. The main topic that I will cover is the fact that if brad does nothing to his costs than what effects will it have on the business
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Illustrate the use of budgets as a means of exercising financial control of a selected company | | 1 | | | P7 | Illustrate the financial state of a given business | | 2 | | | M3 | Interpret the contents of a trading and profit and loss account and balance sheet for a selected company explaining how accounting ratios can be used to monitor the financial performance of an organisation | | 2 | | | M4 | Analyse the reasons why costs need to be controlled to budget | | 1 | | | D2 |
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Edexcel Level 3 Extended Diploma in Business Harrow High School Unit 2: Business Resources Grade P1 | P2 | P3 | P4 | P5 | P6 | P7 | P8 | P9 | | | | | | | | | | M1 | M2 | M3 | M4 | D1 | D2 | D3 | D4 | | | | | | | | | Overall Grade P | | M | | D | | Deadlines Date Issued: | Date Due: | Date Submitted: Date | Declarations Student: I declare that the work submitted in this assignment is my own work and any resources used have been acknowledged
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CREDIT |10 Credits | |ASSIGNMENT |Assignment 1- The Role of Financial Resources – Costs & Budgets | |TUTOR NAME | | |STUDENT NAME
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Sainsburys would be best using to fund the building of a new distribution warehouse costing £800k-£1m. You will need in this report to: * Discuss available sources of finance open to Sainsburys (Retained profits, Share Issue, Bank Loans), giving the advantages and disadvantages of each for funding this size of investment. * Choose one (or more) to recommend using and give detailed reasons for the choice. Grading Criteria Completion of this task will lead to achievement of the following learning
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organisation. This could relate to one of the job descriptions used above;M2 * An explanation of the skills required from candidates applying for this job. This should include: * Employability skills * Personal skills * A justification of why the skills are important to the success of the organisation and the success of the job role.Consider the skills in relation to recruiting an appropriate employee and keeping them
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