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Unit 2 - Business Resources - P6 P7 £3.99   Add to cart
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Unit 2 - Business Resources - P6 P7

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P6-illustrate the use of budgets as a means of exercising financial control of a selected company P7-illustrate the financial state of a given business

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  • July 5, 2018
  • 9
  • 2017/2018
  • Essay
  • Unknown
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  • p7 il
  • unit 2 business resources
  • unit 2 business resources p6 p7
  • unit 2 business resources p6 p7
  • p6 illustrate the use of budgets as a means of exercising financial control of a selected company

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3  reviews

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By: Chrysolepis_Neocirrhitus.armatus • 6 year ago

not relevant

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By: Orontium_Synchiropus.picturatus • 6 year ago

Reply deleted by the user

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By: Orontium_Synchiropus.picturatus • 6 year ago

Would you tell me why it is not relevant since it is the right for the pas criteria? Unless you have bought the wrong document for the wrong pass criteria? Please double check your requirements first!

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By: Chrysolepis_Neocirrhitus.armatus • 6 year ago

I thought it was the actual answer for p7 the controlled assessment but it’s not

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By: Orontium_Synchiropus.picturatus • 6 year ago

Well, I do apologies for the inconvenience, however it’s clearly states that it is P7-illustrate the financial state of a given business. Therefore, it’s about the financial aspect of the business, if you can tell me what you specifically looking for, I might help you with it. If you could please do the right rate for that as it may effect me..

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By: Chrysolepis_Neocirrhitus.armatus • 6 year ago

I’m not sure what curriculum your reading from but for mine P7 is a controlled assessment

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By: Chrysolepis_Neocirrhitus.armatus • 6 year ago

If you send me your email I can send you what I’m talking about

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By: Orontium_Synchiropus.picturatus • 6 year ago

Well I’m used BTEC Level 3 National Business Student Book 1 and book 2 Chapter- Business Resources unit So this Betc requirement to pass the Extened Dipoma in Business Level 3 certificate.

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By: Chrysolepis_Neocirrhitus.armatus • 6 year ago

That’s the one that I do aswell but as far as I’m concerned it’s irrelevant to the criteria

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By: Orontium_Synchiropus.picturatus • 6 year ago

Humm... Well i had achieved a pass from the btec board for this specific pass criteria, so what i could imagine that it is not the same pass we are talking about. The title of my pass is: P7-illustrate the financial state of a given business. Probably yours is different because all the betc business students follow the same to pass it

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By: primrose_Ptereleotris.zebra • 6 year ago

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By: Calamintha_Ecsenius.bicolor • 6 year ago

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By: Orontium_Synchiropus.picturatus • 6 year ago

Hey, thanks for you review. I would like from if you can tell me, if there is anything no good in my work, or any improvement that I can take in consideration. I have already upload the other 9 units for Btec Level 3 90 Credit Diploma in Business. Hope you would like to see them. Thanks !

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Abdulalah Al-Jobore
Unit 2

Task 4
P6 illustrate the use of budgets as a means of exercising fnancial control of a selected
company
P7 illustrate the fnancial state of a given business
Costs and budgets
Budgeting is essential part of managing fnancial resources as it enable organisations to
check how much money they will spend into the business departments. However, while
making a budget plan, the owner of the business must guarantee there is sufcient cash
going to human resources department to make sure that staf are being good paid and
satisfed with their paid. Budgeting is basic within a business as without it, business will
overspend and soon they will start having debts. Budgeting enables owners to identify
which of the business has had the more money given to them and to and to check if they
speeding wisely or not. It will be easier to see which of the departments are over-spending,
if the owner knows how much money going into each departments.
It is good for Stockport College as business to manage its budgeting as it is very important to
manage the costs and expansive efectively, which help to make a proft and Stockport
College can pay its expensive on time. In order to cope with business changing events,
Stockport College have to keep update with their budget and increase sales revenue, they
must make sure the working capital are available so they can use any time they need it and
also they should make a money alongside with their budget in case of emergency.
Costs managed to budget:
Fixed costs:
The fxed costs are the costs which does not change regardless of the increasing or
decreasing of the amount of products (goods) or the service producer or sales. It is the
expense that have to be paid by the business, whether the business making proft or loss. It
is one of the two segments of the total cost of running a business, alongside the variable
costs. For example, Stockport College’s fxed cost could be the building rent, gas and
electricity; the college have to pay them every month. They are fxed, the price will still
same no mater if the demands are increase or decrees
Variable costs:
Variable expenses are straightorwardly identifed with sales volume, so when the sales are
increased, the variable costs also will increase and vice versa, if the sales decrease, the
variable cost will decrease.
Variable costs are expenses of labour or materials that change with sales. By reducing
variable costs will business will save money. For example the variable costs for Stockport
college will be costs of buying pens and pencils for students and staf to use and also the
diferent materials that used in order to achieve the course, these costs will change depend
on the demands of the products.

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