3.6.4 Analysing the Financial Performance of a Business
- Purpose of financial statements
- Components of financial statements
- Interpretation of data given on financial statements
- understand the importance of financial statements for assessing business performance and helping make business decisions
- identify the main components of the income statement and the statement of financial position
- understand the difference between assets and liabilities and that the statement of financial position is a snapshot in time
- make judgements on the performance of a business through the interpretation of the information contained in income statements
- consider current performance, performance against previous years, performance against competitors and performance from the perspective of a range of stakeholders
- calculate gross profit margin and net profit margin to help assess financial performance.
Tutor2U Financial Accounts - BBC Bitesize video - Financial Records - Sam Wich Profit and Loss - Balance Sheets
Balance Sheet Activity - Asset,, liability, revenue, expense - BBC Bitesize recap Financial Records - Complete the Laurie Driver account
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