Availability and cost of finance Availability of labour with appropriate skills Quality of management You are required to explain how a business plan is affected by two different types of constraint. Answer: Pass or Referral AC 3.6 The most commonly used financial terms in the UK include: Define a range of Assets financial terminology Liabilities Depreciation Fixed cost Variable cost Gross profit Net profit You are required to provide clear and correct definitions of five or more financial terms. Answer: Pass or Referral AC 3.7 A financial report is a formal record of the financial activities of a business Explain the purposes that is presented in a specified format. of a range of financial The three most important are: reports Balance or statement of financial position Income statement, or profit and loss account
Availability and cost of finance Availability of labour with appropriate skills Quality of management You are required to explain how a business plan is affected by two different types of constraint. Answer: Pass or Referral AC 3.6 Define a range of financial terminology The most commonly used financial terms in the UK include: Assets Liabilities Depreciation Fixed cost Variable cost Gross profit Net profit You are required to provide clear and correct definitions of five or more financial terms. Answer: Pass or Referral AC 3.7 Explain the purposes of a range of financial reports A financial report is a formal record of the financial activities of a business that is presented in a specified format. The three most important are: Balance or statement of financial position Income statement, or profit and loss account
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