Friday, April 29, 2016
Andrew has been in business for some years now and he wants to begin building up a share portfolio. He realises that he needs to be able to read and analyse published financial statements first. His wife, Joan, suggests that he should call up Richard and ask for some help. Why not join them both and become the ‘Sherlock Holmes’ of the financial world? Ready Spring 2018
An International version will follow.
An international version of Understand Accounting will soon be available. In it you will find Ricardo advising Manuel, whose taxi business is located in America. It will illustrate both UK, Australian and USA financial presentations.
Some of Andrew’s friends have heard about Richard and have asked him to explain management accounting to them with reference to their own businesses. Why not join them too? Coming soon.
This eBook will be of particular help to bankers who are working in this field.
THE JEWEL BOX LTD. – LEVEL 3
David Bowers’s Jewel box business rents its premises from the local authority, so, of course, its fixed assets do not include anything for land and buildings. They do include, however, the shop fittings, its safe and its repair equipment. Most of its customers pay by credit card; some do with cash. As well as selling jewellery it has a thriving repair business, both of jewellery and of watches.
The business accounts are made up to the 31st December, and the opening balances are available in the case study together with details of its transactions for that year. Blank working papers are provided and you are asked to prepare the financial statements and to advise David on future strategy.
THE MOBILE HAIRDRESSER – LEVEL 3
Alice has been in business for three years now. She visits her clients’ homes by appointment, often doing the hair of a principal client and her invited friends. She also sells a selection of toilet and beauty products. She is considering employing a manicurist to enlarge her services.
THE PSYCHOLOGIST – LEVEL 3
Located in Harley Street, London, Alan’s business consists of one to one consultations and small group ones. He also sells a series of dvd’s. A solo consultation lasts about an hour and joint sessions are just a half hour long.
After preparing his financial statements you will advise him on how to increase his business’s profitability.
THE MEDICAL CLINIC – LEVEL 5
There are five doctors employed in the clinic, which has both National Health Service patients and some private ones. It has only recently been put in charge of its own finances. The National Health work is paid for on a predetermined rate. The private work is charged on a per hour basis. Further charges are made for the use of specialised equipment such as x- rays or mri scans.
Once you have prepared the financial statements you will advise them on how to asses the profitability of the different departments of their business.