Premium Essay

Business Studies Level 3 Btec Unit 2 P5

In:

Submitted By PaulaAdams
Words 2459
Pages 10
-------------------------------------------------
P5 - Interpret the contents of trading, profit and loss account and balance sheet for a selected company.
In this assignment I will be interpreting the contents of the trading and profit loss account of Marks and Spencer’s and their balance sheet. I will then give my opinion on how well the might look to shareholders in the business.
Scenario
Marks and Spencer’s Finance Manager is attending the AGM set for the shareholders and other stakeholders next week. He has asked you to produce a presentation to address the stakeholders for Marks and Spencer’s.
Why is a trading, profit and loss account important?
A trading and profit loss account shows the how successful the business has been in terms of achieving their ultimate aim which is to make a profit. Most of the time the trading, profit and loss account of a business would tend to show the volume of revenue the business has received within the year of the trading, profit and loss account and the cost involved in generating that revenue. It is important as it allows them to compare their performance to previous years.
This is also important because similarly to the balance sheet as it allows investors and shareholders to look at the businesses financial status and decide whether they would prefer to invest in the business. This puts added pressure on a business such as M&S because if they have failed in their objective of making a profit there is a high chance of them losing shareholders which could ultimately cause them to lose money also.
Revenue
Revenue is the income gain from trading activity and allows you to know whether your company is making a profit or a loss. To calculate revenue businesses must take away cost of goods, which are variable costs, from the sales revenue. In the case of Marks and Spencer’s we can see from their trading, profit and account

Similar Documents

Premium Essay

Unit 13 Recruitment and Selection

...Unit 13: Unit code: QCF Level 3: Credit value: Recruitment and Selection in Business A/502/5434 BTEC National 10 Guided learning hours: 60 Aim and purpose The aim of this unit is to introduce learners to recruitment and the importance of ensuring that the best people are selected to work in organisations. Learners will study selection and recruitment techniques and will set up, and take part in, a selection interview. Unit introduction Recruiting the right people is the key to the success of many organisations. These organisations ensure that the processes and procedures involved in recruitment and selection meet their needs and are legal. In this unit, learners will develop an understanding of the impact of the regulatory framework on the recruitment process. Potential applicants may decide to apply for a post based on the quality of information that they receive. Details of the post will usually be the first communication they have with the organisation. It is important that the organisation makes a good first impression on potential applicants to ensure that they attract sufficient applicants of the right calibre. Learners will develop their knowledge of the types of documentation used in an interview process. A structured and planned selection procedure is crucial to the success of the selection process. The impression a business makes may determine an applicant’s decision to accept an offer of appointment. Staff conducting the interview will also be forming their impressions...

Words: 4020 - Pages: 17

Premium Essay

Btec

...Unit 4: Unit code: QCF Level 3: Credit value: Business Communication H/502/5413 BTEC National 10 Guided learning hours: 60 Aim and purpose The aim of this unit is to show learners that the collection and management of business information, and the successful communication of that information throughout a business, is critical for the future prosperity of the organisation. Unit introduction A business needs accurate and relevant information from internal and external sources in order to operate profitably. Proper collection of data creates an environment where informed decisions can be taken for the benefit of the business. In order to manage information effectively, there must be good communication systems within the organisation. Staff must possess good verbal and written skills in order to communicate and share information Business information can be used to obtain competitive advantage and promote efficiency. Organisations generate information internally, recording details of products manufactured, purchased and sold, and their associated costs. Businesses use information to manage not only what is currently happening in the organisation but also to plan for the future and ensure their survival. Information is collected, stored, manipulated, analysed and reported to those who need to use it. People need to become skilled manipulators and users of information to ensure organisations become more efficient and succeed in achieving their stated purposes. Since the...

Words: 3972 - Pages: 16

Premium Essay

Unit 16 Human Resource Management Issue 2

...Unit 16: Human Resource Management in Business Unit code: K/502/5445 QCF Level 3: BTEC National Credit value: 10 Guided learning hours: 60 Aim and purpose The aim of this unit is to introduce learners to methods of managing human resources in the workplace. Learners will use their knowledge of relevant human resources management theory and link it with current human resource management practices in organisations. Unit introduction Human resource management is a dynamic activity in any organisation as it takes place against a changing economic, technical, legal and social background. It is important for learners to appreciate that effective human resource management means getting the best out of the people who work for an organisation in order to ensure the organisation fulfils its purposes, whether it is a football club winning the premiership, or a hospital increasing the success rates for medical operations. Many organisations say that their employees are their most valuable resource because of their skills, knowledge and attitudes. As labour is both an expensive and valuable resource, it is important to ensure it is planned and that the best value is obtained from employees contributions. Human resource managers have to plan their human resource requirements against a background of internal and external factors which are dynamic and constantly changing. The first part of this unit introduces learners to the factors that influence human...

Words: 3747 - Pages: 15

Free Essay

Business Recources

...BTEC Level 3 Subsidiary / Diploma, Business Studies Unit 2 – Business Resources Assignment 1 (P1, P2, M2) – Recruiting the Right Staff Scenario You are coming to the end of your BTEC course and you have been considering getting a job in the summer break before you start university. As well as earning some extra money, you are looking forward to the opportunity to develop your skills and put into practice the knowledge you have learnt on your BTEC course. Task one (P1 part) Research some jobs that you can apply for on job websites. You could look at www.monster.com or www.totaljobs.com. You need to find a job that you think you could apply for either now or at the end of year 13. You need to collect a job description, person specification and application form as evidence. (P1 part) Task two (P1, P2 M2) To show that you understand the relevance of these documents used in recruitment you need to complete an information sheet which analyses their contents (see attached for template). Your information sheet should 1. Describe the recruitment documentation used for the job you have chosen. What is a job description, what is a person specification and what is an application form? How are they used in business? (P1) 2. Identify the skills required on the job description. Describe how you have these skills or if you don’t have them, describe how you could develop them this year. (P2) 3. For each of the skills that you have already identified...

Words: 1833 - Pages: 8

Premium Essay

Sugar

...Unit 3: Introduction to Marketing Unit code: Y/502/5411 QCF Level 3: BTEC National Credit value: 10 Guided learning hours: 60 Aim and purpose The aim and purpose of this unit is to give learners an understanding of how marketing, research and planning and the marketing mix are used by all organisations. Unit introduction Marketing is at the heart of every organisation’s activity. Its importance is also growing in the non-commercial, public and voluntary sectors. Also, at the heart of marketing is the customer. This unit will introduce learners to some of the tools and techniques all types of organisations use to achieve their objectives. Firstly, learners will explore how different types of organisations use marketing principles to meet the needs of their customers and achieve their objectives. The constraints under which organisations operate are important and learners will study the legal requirements and voluntary codes that affect marketing. Learners will then go on to investigate how organisations collect data through market research and turn it into useful information which can be analysed and used to plan their marketing activities. The segmentation and targeting of groups of customers is a key marketing technique and this is studied in detail. This includes the different bases for segmentation of both consumer and business markets. Next, learners will examine how a marketing mix is developed to meet the needs and aspirations of...

Words: 4051 - Pages: 17

Premium Essay

Business

...Unit 2: Unit code: QCF Level 3: Credit value: Business Resources D/502/5409 BTEC National 10 Guided learning hours: 60 Aim and purpose The aim of this unit is to develop learner knowledge of the range of human, physical, technological and financial resources required in an organisation, and how the management of these resources can impact on business performance. Unit introduction At the core of every organisation are the human, physical, technological and financial resources that enable it to function. This unit will give learners a broad understanding of the importance organisations place on managing their resources efficiently in order to achieve their objectives. It is important that learners are able to relate their understanding of resource management to a real organisation. This will provide an essential link between theory and practice. Understanding how these resources are managed is one of the keys to assessing how well the organisation is performing. The first part of this unit explores the range of human, physical and technological resources for a selected organisation. Learners will investigate the importance of managing these resources efficiently. The contribution that recruiting and retaining suitable staff can make to the organisation’s performance is examined. The importance of managing the organisation’s physical and technological resources efficiently is also explored. For an organisation to survive its finances need to be sound and secure. The...

Words: 4156 - Pages: 17

Premium Essay

Business Accounting Spec

...Unit 5: Business Accounting Unit code: M/502/5415 QCF Level 3: BTEC National Credit value: 10 Guided learning hours: 60 Aim and purpose The aim of this unit is to enable learners to understand the purpose of accounting, and the associated processes and its role in the managing of a business. Learners will develop the skills and knowledge needed to understand financial information. Unit introduction Understanding how a business operates and what makes it successful, requires knowledge of the accounting process. Accounting involves recording business transactions and, this in turn, leads to the generation of financial information which can be used as the basis of good financial control and planning. Inadequate record keeping and a lack of effective planning ultimately lead to poor financial results. It is vital that owners and managers of businesses recognise the indications of potential difficulties. Remedial action can then be taken. The unit is divided into two parts. The first develops an understanding of the accounting processes necessary to provide accurate and relevant financial information. The second part covers the practical aspect of carrying out those accounting activities. Learners will be introduced to accounting terminology as they study the purpose and function of accounting and consider the various categories of business income and expenditure. It is important to know the sources of an organisation’s income and the nature...

Words: 3890 - Pages: 16

Premium Essay

Human Resource Management

...ESSEX INTERNATIONAL COLLEGE Programme: Unit Number: Unit Title: Unit Code: Credit Value: QCF Level: BTEC Higher National Diploma (HND) in Business 21 Human Resource Management K/601/1264 15 4 Writer of the brief: Internal Verifier name: Mr Alfred Dr Rahman Learning outcomes and criteria covered by this assignment:    All pass criteria All merit descriptors All distinction descriptors Key dates: Assignment distribution date to learners: Assignment/Portfolio submission date for TASK 1 & 2: Assignment/Portfolio submission date for TASK 3 & 4: Assignment/Portfolio returns date to learners (if applicable): 14 May 2013 20 June 2013 01 August 2013 10 September 2013 Page 1 of 11 BTEC HND in Business/ Human Resource Management/May 2013 -BLANK PAGE- Page 2 of 11 BTEC HND in Business/ Human Resource Management/May 2013 Introduction Recruiting and retaining staff of the right caliber contributes to the achievement of organisational purposes. Staff must make a valued contribution to the work of the organisation. Eventually they will leave, more often than not because they find alternative employment or retire. Occasionally, however, employment has to be terminated. This unit considers how human resource management deals with these aspects of working. However, the focus of human resource management has moved beyond personnel management towards a more proactive approach that, in addition to the traditional roles associated with staff management, also considers...

Words: 2845 - Pages: 12

Premium Essay

Introduction to Marketing

...Assignment brief – QCF BTECAssignment front sheet | Qualification | Unit number and title | BTEC Level 3 90 credit Diploma in Business | 3 Introduction to Marketing | Learner name | Assessor name | | Julie Flavell | Date issued | Hand in deadline | Submitted on | | | | | | Assignment title | Market Segmentation | In this assessment you will have opportunities to provide evidence against the following criteria. Indicate the page numbers where the evidence can be found. | Criteria reference | To achieve the criteria the evidence must show that the learner is able to: | | Task no. | | Evidence | P5 | Explain how and why groups of customers are targeted for selected products | | 1 | | | P6 | Develop a coherent marketing mix for a newproduct or service. | | 2 | | | M3 | Develop a coherent marketing mix that is targeted at a defined group of potential customers. | | 2 | | | Learner declaration | I certify that the work submitted for this assignment is my own. I have clearly referenced any sources used in the work. I understand that false declaration is a form of malpractice.Learner signature: Date: | Assignment brief Qualification | BTEC Level 3 90 credit Diploma in Business (Business Pathway) | Unit number and title | 3 Introduction to Marketing | Assessor name | Julie Flavell | Date issued | 27.11.15 | Hand in deadline | 18.12.15 | | ...

Words: 890 - Pages: 4

Premium Essay

M.R Mohamed Abdi

...Stretch and support NS = Non-supervised individual study time Week 1 Non-supervised individual study time and research: 40 hours Outcome Content Learner activity Resources Assessment and PLTS LO1: Know the range of different businesses and their ownership Introduction to unit and the structure of the programme Introduction to LO1 Range of different businesses: local; national; international; global; public; private; not-for-profit/voluntary; sectors of business activity (primary, secondary and tertiary) Business purposes: supply of products or services; difference between profit and not-for profit organisations Set up file for new unit Reflective questions AS1 Business types and ownership, Task 1; as individual or pair activity SB activities: • Starter stimulus • Tony and Guy • Aresenal • VSO • Primary, secondary and tertiary businesses Sample assignment brief Task 1.1 for P1; learners should spend the session time and NS time on this activity SB activities: • Poundland AS1 Business types and ownership SB Sample assignment brief Task 1.1 Stretch and support Assessment P1 PLTS RL BTEC National Business © Pearson Education Ltd 2010. Copying permitted for purchasing institution only. This material is not copyright free. BTEC National Business Unit 1 The business environment Unit 1 The business environment Scheme of work 5 3 4 5 Content...

Words: 1775 - Pages: 8

Premium Essay

Nice One

...Unit 2 Business Resources Student Name: | | Centre: | Leamington Spa | Course Title: | Extended Diploma in Business | Year of Course: | Year 1 | Unit Manager/Assessor: | Helen Morten | Internal Verifier: | L Cutter | Unit Title: | Milestone 3 Analysing Performance | Grading Criteria: UNIT 2 Business Resources | Evidenced inAssignment | P1 | Describe the recruitment documentation used in a selected organisation | Already covered in the recruitment project | P2 | Describe the main employability, personal and communication skills required when applying for a specific job role | Already covered in the recruitment project | P3 | Describe the main physical and technological resources required in the operation of a selected organisation | 1 | P4 | Describe the sources of internal and external finance for a selected business | 1 | P5 | Interpret the contents of a trading and profit and loss account and balance sheet for a selected company | 3 | P6 | Illustrate the use of budgets as a means of exercising financial control of a selected company | 2 | P7 | Illustrate the financial state of a given business | 3 | M1 | Explain how the management of human, physical and technological resources can improve the performance of a selected organisation | 1 | M2 | Assess the importance of employability and personal skills in the recruitment and retention of staff in a selected organisation | Already covered in the recruitment project | M3 | Interpret the contents...

Words: 1122 - Pages: 5

Premium Essay

Project

...BTEC Business Project |Assignment |2013/2014 | Learner Declaration I declare that all the work submitted for this assignment is my own work or, in the case of group work, the work myself and other members of the group in which I worked, and that no part of it has been copied from any source. I understand that if any part of the work submitted for this assignment is found to be plagiarised, none of the work submitted will be allowed to count towards the assessment of the assignment. |Centre Name: |Westminster Kingsway College |Centre No: |10240 | |Learner’s Name: | | |Learner’s Signature: | | |Assessor’s Name: | | |Assessor’s Signature: | |Date: | | |Date Issued: |3rd February 2014 |Submission Date: ...

Words: 2493 - Pages: 10

Free Essay

Unit 4 Assignment Brief

...Assignment Title | Unit 4: Communication in Business | Assessor | Peter Green | Date Issued | 13th January 2015 | Hand in Date | 20th March 2015 | Duration (approx.) | 11 weeks | Qualification suite covered | Level 3: BTEC Diploma in Business | Units covered | Unit 4 | Learning aims and objectives | The aim of this unit is to inform you that the collection and management of business information, and the successful communication of that information throughout a business, is critical for the future prosperity of the organisation.Learning outcomes:1. Understand different types of business information2. Be able to present business information effectively3. Understand the issues and constraints in relation to the use of business information in organisations4. Know how to communicate business information using appropriate methods | Durations (approx) | 60 hours | BackgroundCase studiesScenario | Proper collection of data creates an environment where informed decisions can be taken for the benefit of the business. In order to manage information effectively, there must be good communication systems within the organisation, and staff must possess good verbal and written skills in order to communicate and share information. Throughout this unit, you will be researching how one organisation obtains and provides information verbally, via written context, and with the use of multi-media.You have been given the choice of the following organisations to research in order...

Words: 1171 - Pages: 5

Premium Essay

Alright

...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. I understand that false declaration is a form of malpractice. I understand the requirements of this BTEC Level 3 National Certificate in Applied Science. I have been offered constructive feedback and the opportunity to improve my work. Assessor I declare that I have issued the relevant resource material. I ensured that the student understood the requirements for the completion of this course. The student named above completed the work that is submitted and the work is their own. Student Signature | Assessor Signature | Date | Date | Unit 2 – Business Resources At the core of every organisation are the human, physical, technological and financial resources that enable it to function. This unit will give learners a broad understanding of the importance organisations place on managing their resources efficiently in order to achieve their objectives. It is important that learners are able to relate their understanding of resource management to a real organisation...

Words: 1597 - Pages: 7

Premium Essay

Management

...Semester Period Unit No 103 Units Covered Unit Name Further Mathematics for Engineering Technicians Electrical and Electronic Principles Data Communications and Networks Analytical Methods for Engineers Engineering Science Telecommunication Principles Advanced Mathematics for Engineering Electrical and Electronic Principles Business Management Techniques for Engineers Computer Programming Techniques Radio Communication Engineering Electronic Principles Principles and Applications of Microcontrollers Digital and Analogue Devices and Circuits Management of Projects Project Design, Implementation and Evaluation Personal and Professional Development Work-based Experience Credit Hours 10 10 15 15 15 15 15 15 15 15 20 15 15 15 15 20 15 15 Unit Level 3 3 4 4 4 5 5 5 4 4 4 5 4 5 5 5 5 5 Semester 1 (10 weeks) September- November 2014 101 119 001 Semester 2 (10 weeks) December- February 2014 002 118 059 Semester 3 (10 weeks) March - May 2014 005 007 112 Semester 4 (10 weeks) June - August 2015 120 039 113 Semester 5 (10 weeks) September-November 2015 117 037 Semester 6 (10 weeks) 003 December 2015 -February 2016 027 029 Industrial Training March 2016 - September 2016 UNIT 1: ANALYTICAL METHODS FOR ENGINEERS Unit 1: Unit code: QCF level: Credit value: Analytical Methods for Engineers A/601/1401 4 15 • Aim This unit will provide the analytical knowledge and techniques needed to carry out a range of engineering...

Words: 26988 - Pages: 108