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Business

Sources of Finance

QuestionAnswer
The role of the Finance Department? Recording & maintaining financial records , paying bills and wages.
What is a Government grant ? Give an advantage and a disadvantage When the government pays the grant to encourage business to locate to areas of high unemployment so the business will bring jobs to the area.This does not need to be paid back but could be restrictions on how the money is spent.
What is a Bank overdraft? one advantage and disadvantage When the bak allows the business to take more out of its account than they actually have.Used to cover small cash deficits& expensive if used long term interest may be high
What is a Bank loan?one Advantage and disadvantage Bank allows business to borrow an agreed sum of money to assist with buying assets.budgeting and planning easier &small business pay higher interest rates
Name sources of finance available for the PRIVATE sector? Government grant / Bank overdraft /Bank loan / Owners own capital/ Issue share capital/Trade credit
What is a Trade credit ? Advantage and disadvantage? Suppliers allow business to use goods/services before paying for them. Helps business survive when cash flow is poor and no discount for prompt payment
What is a Issue share capital? Advantage and disadvantage When the business invites new shareholders not the business to invest more money or more to existing shareholders.Have limited liability to encourage new sH & ownership is diluted
2 reasons for Final Accounts A summary of all trading activities during the year Indvidual records are to detailed to understand
Created by: emilylogue