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Aims of A Marketing Department
For a successful business it is important that marketing plays a pivotal role. Marketing department is one of the most important components of a business’s survival in the market. The main aims of the marketing department revolve around understanding the customers and their needs. Marketing activities involve designing, promoting, pricing a product according to the [...]
Accounting Principles
Introduction to Accounting Concepts and Principles
Accounts are records of financial transactions, where the information about how much has been spent and how much has come in, is entered onto a sales ledger. The completed ledger can be manipulated to produce reports and this helps with financial planning.
In preparing accounts there are several accounting principles which [...]
Sources of Finance
For new businesses and those wanting to expand and grow, where to get the money to finance that objective is crucial.
Sources of Internal and External Finance Available:
Internal sources:
Personal savings: This is most often an option for small businesses where the owner has some savings available to use as they wish.
Retained profit: This is profit already [...]
Cash Flow Management
Budgeting and Cash Flow Management
Cash is crucial to a company’s survival. It’s a key indicator of corporate health as whilst a company can survive short-term without sales or profit, it will fail without cash to finance the day-to-day running of the business.
The amounts and timing of money coming in and going out of the business [...]
Profit and Loss
An Introduction To Business Accounts.
Profit and loss accounts and balance sheets are two of the most useful tools to see how well a company is performing.
The profit and loss (P&L) account is a basic record of an organisation’s annual accounts. It will show how much the company has earned, how much it has spent to [...]
