Questions

Please answer all of the above questions.

7. Discuss benchmarking in a small business context. What is it? Why is it important?

8. (b) Describe the information included in the balance sheet.

8. (c) Briefly discuss the process for preparing a balance sheet.

9. Discuss the importance of effective inventory control relevant to effective financial management of a small business. Include a description of how your business manages stock. If your business does not carry stock, include a description of the principles of effective stock management for a small business.

10. Explain the key requirements of each of the following pieces of legislation, regulation or code, and how they influence the financial services industry: a. Competition and Consumer Act 2010 b. Anti-Money Laundering and Counter Terrorism Financing Acts c. Privacy Act 1988 d. ePayments Code e. A New Tax System (Goods and Services Tax) Act 1999