The Role of Computer in Business
All businesses need to be well organised to achieve their aims and objectives. Certain tasks, or functions, must be done regularly and
these are usually grouped into specific types of activities. In a
large organisation like Tesco PLC, people work together in functional
areas. Each functional area has a specific purpose. Below are the main
functional areas:
Finance
The main activities of the finance department are:
* To record all the business transactions
This means that they record in their schedule all the expenses that
have been paid and all incomings. They also make sure that each
department does not spend more than it has been allocated.
* Measure the financial performance of Tesco
This means the finance department look at how well or badly Tesco is
doing financially.
* To control the finances and cash flow so Tesco stays reliable.
This means that they make sure that there is enough money in the
business to pay off debts, bills and the employees. They also make
sure that there is enough money to survive for the company.
* To take timely financial decisions by comparing the predicted
performance with actual performance.
This means that if the company wants to invest more , then it
would be up to the finance department to make the decision on whether
there are enough funds to do. They would do this by looking and
comparing the financial situation in previous years with the financial
situation of the present year. By this they can see the expense will
leave them with enough money at the end. They also prepare all the
accounts each year so that the company comply with their legal
responsibilities to the Inland Revenue and complete VAT returns which
they send to HM Customs and Excise.
Jumat, 29 Juni 2012
Import and Export
Import export businesses, also known as international trading, are one of the hottest commercial trends of this decade. American companies trade in over 2.5 trillion dollars a year in merchandise, of which small businesses control over 95 percent. As the owner of an import export enterprise, you can work as a distributor by focusing on exporting and importing goods and services that cannot be obtained on national soil (e.g., Russian caviar and French perfumes) or those that are cheaper when imported from other countries (e.g., Chinese electronics).
In addition, you can also open an export management company (EMC), where you can help an existing corporation market its products in a foreign country by arranging the shipping and storing of the merchandise for them without doing the actual selling. EMCs can specialize in one industry or work with different types of import export manufacturers. It is also possible to act as a broker for a company, working on commission over the actual sales. This is a great choice for products that are guaranteed to sell because of high demand or an established brand name.
While basically any country can offer opportunities for import export trade, Canada, Mexico, Japan, and China have topped the trading chart for the past two decades. In the last few years, countries in the former Soviet Union and South America have become major players, but there's still much to learn about trading with these new markets.
Opening an import export business requires an initial investment of $5,000 or more, depending not only on the type of merchandise you're setting up to market, but also on whether you plan on working from home or renting an office, hiring employees, etc. Compared to other businesses, however, import export companies have a very low startup cost.While most products can be exported without the need for licenses, some specialty products or high-risk items, such as firearms or pharmaceuticals, may require special government permits. If that's the case, costs may run considerably higher.
To get started, it may be sensible to consult with the local Board of Trade (or the Chamber of Commerce in smaller cities) or call Consulates and Embassies to find out if they have import export programs set up. Many embassies even have a special department to promote the export of their goods to other countries and are more than happy to help potential import export traders.
Import export businesses, also known as international trading, are one of the hottest commercial trends of this decade. American companies trade in over 2.5 trillion dollars a year in merchandise, of which small businesses control over 95 percent. As the owner of an import export enterprise, you can work as a distributor by focusing on exporting and importing goods and services that cannot be obtained on national soil (e.g., Russian caviar and French perfumes) or those that are cheaper when imported from other countries (e.g., Chinese electronics).
In addition, you can also open an export management company (EMC), where you can help an existing corporation market its products in a foreign country by arranging the shipping and storing of the merchandise for them without doing the actual selling. EMCs can specialize in one industry or work with different types of import export manufacturers. It is also possible to act as a broker for a company, working on commission over the actual sales. This is a great choice for products that are guaranteed to sell because of high demand or an established brand name.
While basically any country can offer opportunities for import export trade, Canada, Mexico, Japan, and China have topped the trading chart for the past two decades. In the last few years, countries in the former Soviet Union and South America have become major players, but there's still much to learn about trading with these new markets.
Opening an import export business requires an initial investment of $5,000 or more, depending not only on the type of merchandise you're setting up to market, but also on whether you plan on working from home or renting an office, hiring employees, etc. Compared to other businesses, however, import export companies have a very low startup cost.While most products can be exported without the need for licenses, some specialty products or high-risk items, such as firearms or pharmaceuticals, may require special government permits. If that's the case, costs may run considerably higher.
To get started, it may be sensible to consult with the local Board of Trade (or the Chamber of Commerce in smaller cities) or call Consulates and Embassies to find out if they have import export programs set up. Many embassies even have a special department to promote the export of their goods to other countries and are more than happy to help potential import export traders.
Modern Banking
"If the debt which the banking companies owe be a blessing to anybody, it is to themselves alone, who are realizing a solid interest of eight or ten per cent on it. As to the public, these companies have banished all our gold and silver medium, which, before their institution, we had without interest, which never could have perished in our hands, and would have been our salvation now in the hour of war; instead of which they have given us two hundred million of froth and bubble, on which we are to pay them heavy interest, until it shall vanish into air... We are warranted, then, in affirming that this parody on the principle of 'a public debt being a public blessing,' and its mutation into the blessing of private instead of public debts, is as ridiculous as the original principle itself. In both cases, the truth is, that capital may be produced by industry, and accumulated by economy; but jugglers only will propose to create it by legerdemain tricks with paper."
- Thomas Jefferson to John W. Eppes, 1813. ME 13:423
"The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in iniquity and born in sin. Bankers own the Earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough money to buy it back again...Take this great power away from them and all great fortunes like mine will disappear, and they ought to disappear, for then this would be a better and happier world to live in. But if you want to continue to be slaves of the banks and pay the cost of your own slavery, then let bankers continue to create money and control credit'."
- Sir Josiah Stamp, The Bank of England
Money and its Function
Money
does not just consist of notes and coins. Only about 3 to 5% of the
UK’s money supply consists of actual cash. Most money is held as
deposits in banks and other financial institutions. The bulk of these
deposits only appear as book keeping entries in the accounts of these
institutions. It is possible for people to access the money in their
accounts through the use of debit cards, cheques, standing orders,
direct debits and so on without the need for cash. This means that banks
and other financial institutions need to keep only a small percentage
of these deposits in their safes and at their counters in the form of
cash.
The Functions of Money
The primary function of money is to facilitate the buying and selling of goods, services and assets. This is known as a medium of exchange. There are also two other main functions of money. The main functions are covered in more depth below:
The Functions of Money
The primary function of money is to facilitate the buying and selling of goods, services and assets. This is known as a medium of exchange. There are also two other main functions of money. The main functions are covered in more depth below:
- Medium of exchange. In an economy where people make items
themselves to meet their own needs there would be no need for money as
people would barter using their spare items that they have produced. If
one person wanted an item another person had they would simple barter
and arrange an exchange of goods. In a modern economy which is highly
developed, barter would be impractical in most circumstances. What is
needed is a medium of exchange which is generally acceptable as a means
of payment for goods, services, labour and factors of production/
service. Money carries out this function. To be an effective and
suitable means of exchange, money must be light for it to be carried
around, be divisible (come in different denominations) and not be easy
forged or replicated.
- Means of Evaluation. Money allows for the comparison of the
value of goods, services and assets. The value of goods and services is
expressed in terms of prices and these prices are expressed in terms of
money. This allows for different items which are dissimilar, such as a
company’s assets, to be added up. Money, thus serves as a ‘unit of
account’.
- Store of wealth. People and organisations need to be able to use the earnings of one days labour or operation to purchase goods and services in the future. This would mean they would need to store their wealth and that they need a means of saving. Money facilitates the storing of wealth as it can be saved.
Why Finance ?
Why Finance Matters - Building Financial Acumen
Now there’s a way to help your people develop the financial understanding they need to maximize their effectiveness, make sound business decisions, and drive bottom-line results.
Why Finance Matters, is a web-based offering from BTS, one of the world’s most trusted names in financial acumen. It delivers comprehension and on-the-job results, even for individuals who find “the language of business” a bit intimidating.
Why Finance Matters, instruction is delivered in a story setting complete with colorful characters and full motion video. What’s more, because the learning is web-based, getting around is a simple matter of point and click.
The 11 learning modules and associated proficiency exams of Why Finance Matters address every aspect of financial acumen—from understanding income statements and balance sheets, to calculating return on investment, to constructing what-if sensitivity work-ups. In fact, one highly regarded Fortune 50 firm uses the program to develop its career financial professionals.
Use Why Finance Matters to equip leaders with the financial know-how to develop business plans and budgets and make decisions that contribute to your organization’s bottom line. Already an integral part of many corporate university leadership development programs, Why Finance Matters is also an ideal foundation for executive-level case studies and strategic simulations—ensuring that participants of varying financial backgrounds enjoy a level playing field.
Imagine if your salespeople were able to cost-justify their business proposals based on an intimate understanding of a prospect’s financial situation. Why Finance Matters can give them the wherewithal to do so.
For professionals charged with investing in new products and making significant technology and infrastructure commitments, Why Finance Matters provides analytic tools that assure your organization and shareholders an acceptable return. Managers will optimize the way they manage inventories, collect receivables, process transactions and extend credit to improve cash flow and return on sales. In fact, consider Why Finance Matters for any manager or knowledge worker who needs to understand the financial impacts of everyday decisions and the ripple effects across other work units.
All of the case examples in Why Finance Matters™ are easy for learners to grasp and then apply to their own work environment. But BTS can also customize the learning experience to include your organization’s financials as well as terminology and key performance ratios specific to your industry, your customers and your competition. The process is surprisingly quick and easy: You’ll find our consultants extremely adept at understanding your business goals and objectives..
Why Finance Matters - Building Financial Acumen
Now there’s a way to help your people develop the financial understanding they need to maximize their effectiveness, make sound business decisions, and drive bottom-line results.
Why Finance Matters, is a web-based offering from BTS, one of the world’s most trusted names in financial acumen. It delivers comprehension and on-the-job results, even for individuals who find “the language of business” a bit intimidating.
Developing Financial Acumen:
An Interactive Online Experience That Fully Engages the Learner
Why Finance Matters, instruction is delivered in a story setting complete with colorful characters and full motion video. What’s more, because the learning is web-based, getting around is a simple matter of point and click.
The 11 learning modules and associated proficiency exams of Why Finance Matters address every aspect of financial acumen—from understanding income statements and balance sheets, to calculating return on investment, to constructing what-if sensitivity work-ups. In fact, one highly regarded Fortune 50 firm uses the program to develop its career financial professionals.
The Perfect Business Skills and Finance Education Launch Pad
Use Why Finance Matters to equip leaders with the financial know-how to develop business plans and budgets and make decisions that contribute to your organization’s bottom line. Already an integral part of many corporate university leadership development programs, Why Finance Matters is also an ideal foundation for executive-level case studies and strategic simulations—ensuring that participants of varying financial backgrounds enjoy a level playing field.
Essential for Any Manager That Needs to Understand the Financial Impact of Decisions
Imagine if your salespeople were able to cost-justify their business proposals based on an intimate understanding of a prospect’s financial situation. Why Finance Matters can give them the wherewithal to do so.
For professionals charged with investing in new products and making significant technology and infrastructure commitments, Why Finance Matters provides analytic tools that assure your organization and shareholders an acceptable return. Managers will optimize the way they manage inventories, collect receivables, process transactions and extend credit to improve cash flow and return on sales. In fact, consider Why Finance Matters for any manager or knowledge worker who needs to understand the financial impacts of everyday decisions and the ripple effects across other work units.
Incorporate Your Own Business Financials in the Learning Process
All of the case examples in Why Finance Matters™ are easy for learners to grasp and then apply to their own work environment. But BTS can also customize the learning experience to include your organization’s financials as well as terminology and key performance ratios specific to your industry, your customers and your competition. The process is surprisingly quick and easy: You’ll find our consultants extremely adept at understanding your business goals and objectives..
The Balance Sheet
The Balance Sheet, one type of financial condition statement, provides a summary of what company owns and what it owes on a particular day.
Assets represent everything of value that is owned by a business, 5 such as property, equipment, and accounts receivable. on the another hand, liabilities are the debts owed by a company-for example, to suppliers and banks. if liabilities are subtracted from assets, the amount remaining is the owners share of a business. this is known as owners or stockholders equity.
The balance sheet must follow the following formula:
Assets = Liabilities + Shareholders' Equity
It's called a balance sheet because the two sides balance out. This makes sense: a company has to pay for all the things it has (assets) by either borrowing money (liabilities) or getting it from shareholders (shareholders' equity).
Each of the three segments of the balance sheet will have many accounts within it that document the value of each. Accounts such as cash, inventory and property are on the asset side of the balance sheet, while on the liability side there are accounts such as accounts payable or long-term debt. The exact accounts on a balance sheet will differ by company and by industry, as there is no one set template that accurately accommodates for the differences between different types of businesses.
The Balance Sheet, one type of financial condition statement, provides a summary of what company owns and what it owes on a particular day.
Assets represent everything of value that is owned by a business, 5 such as property, equipment, and accounts receivable. on the another hand, liabilities are the debts owed by a company-for example, to suppliers and banks. if liabilities are subtracted from assets, the amount remaining is the owners share of a business. this is known as owners or stockholders equity.
The balance sheet must follow the following formula:
Assets = Liabilities + Shareholders' Equity
It's called a balance sheet because the two sides balance out. This makes sense: a company has to pay for all the things it has (assets) by either borrowing money (liabilities) or getting it from shareholders (shareholders' equity).
Each of the three segments of the balance sheet will have many accounts within it that document the value of each. Accounts such as cash, inventory and property are on the asset side of the balance sheet, while on the liability side there are accounts such as accounts payable or long-term debt. The exact accounts on a balance sheet will differ by company and by industry, as there is no one set template that accurately accommodates for the differences between different types of businesses.
An Accounting Overview
Accounting is frequently called the “language of business” because of its ability to communicate financial information abaout an organization. Various interested parties, such as managers, potential investors, creditors, and the government, depend on a company’s accounting system to help them make informed financial decisions. An affective accounting system, therefore, must include accurate collecting, recording, classifying, summarizing, interpreting, and reporting of information on the financial status of an organization.
In order to achieve a standardized system, the accounting process follows accounting principles and rules. Regardless of the type of business or the amount of money involved, common procedures for handling and presenting financial information are used. Incoming money (revenues) and outgoing money (expenditures) are carefully monitored, and transaction are summarized in financial statements, which reflect the major financial activities of an organization.
Two common financial statements are the balance sheet and the income statement. The balance sheet shows the financial position of a company at one point in time, while the income statement shows financial performance of a company over a period of time. Financial statement allow interested parties to compare one organization to another and/or to compare accounting periods within one organization. For example, an investor may compare the most recent income statements of two corporations in order to find out which one would be a better investement.
People who specialize in the field of accounting are known as accountants. In the United States, accountants are usually classified as public, private, or governmental. Public accountants work independently and provide accounting services such as auditing and tax computation to companies and individuals. Public accountants may earn the title of CPA(Certified Public Accountant) by fulfilling rigorous requirements. Private accountants work solely for private companies or corporations that hire them to maintain financial records, and governmental accountants work for governmental agencies or bureaus. Both private and governmental accountants are paid on a salary basis, whereas public accountants receive fees for their services.
Through effective application of commonly accepted accounting systems private, public, and govermmental accountants provide accurate and timely financial information that is necessary for organization decision making.
Accounting is frequently called the “language of business” because of its ability to communicate financial information abaout an organization. Various interested parties, such as managers, potential investors, creditors, and the government, depend on a company’s accounting system to help them make informed financial decisions. An affective accounting system, therefore, must include accurate collecting, recording, classifying, summarizing, interpreting, and reporting of information on the financial status of an organization.
In order to achieve a standardized system, the accounting process follows accounting principles and rules. Regardless of the type of business or the amount of money involved, common procedures for handling and presenting financial information are used. Incoming money (revenues) and outgoing money (expenditures) are carefully monitored, and transaction are summarized in financial statements, which reflect the major financial activities of an organization.
Two common financial statements are the balance sheet and the income statement. The balance sheet shows the financial position of a company at one point in time, while the income statement shows financial performance of a company over a period of time. Financial statement allow interested parties to compare one organization to another and/or to compare accounting periods within one organization. For example, an investor may compare the most recent income statements of two corporations in order to find out which one would be a better investement.
People who specialize in the field of accounting are known as accountants. In the United States, accountants are usually classified as public, private, or governmental. Public accountants work independently and provide accounting services such as auditing and tax computation to companies and individuals. Public accountants may earn the title of CPA(Certified Public Accountant) by fulfilling rigorous requirements. Private accountants work solely for private companies or corporations that hire them to maintain financial records, and governmental accountants work for governmental agencies or bureaus. Both private and governmental accountants are paid on a salary basis, whereas public accountants receive fees for their services.
Through effective application of commonly accepted accounting systems private, public, and govermmental accountants provide accurate and timely financial information that is necessary for organization decision making.
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