Updated on: 01/12/2023 Business finance enables a business organisation to operate on a day-to-day basis, and over the long term, develop new products and invest in new equipment in order to access new markets. Decisions relating to business finance require careful planning and monitoring, which involve deciding where to obtain the finance, calculating business costs, and understanding how to evaluate and improve the overall performance of a business. In this unit, you will consider the importance of business finance and the types of business finance available in different contexts. The unit will introduce you to accounting terminology, the purpose and importance of business accounts, and the different sources of finance available to businesses. You will prepare and analyse business finance planning tools such as cash flow forecasts and break-even analyses. Measuring the financial performance of an organisation will require you to prepare and analyse statements of comprehensive income, and statements of financial position, in relation to the organisations profitability, efficiency and liquidity. This unit will give you a background to business finance and accounting as you progress to employment and further training.
Category: Past Courses - BTEC Level 3 (BTEC3D)