Financial aspects of business an overiew Assignment

Financial aspects of business an overiew - Assignment Example For sale traders, the liability is unlimited and the personal assets can be used to repay the liabilities of the business. It is important for sole traders to maintain their accounts in order to have an idea about the performance of the business. It would enable the owner to have an idea about the present debt condition of the business. It would also enable in keeping a track on the total sales and purchases of the goods and services. It is essential to keep and maintain accounts because it helps in maintenance of transparency of the business transactions. It also reduces the existence of flaws in any decision making by the trader. Partnership business is conducting business activities together by two or more partners and earning and sharing the profit earned from the business operations. In case of partnership business, the company needs to maintain its book of accounts in order to have a clear and transparent disclosure of all the business activities to all the business partners. I t would also enable assessment of profitability of the company followed by its division among all the business partners. It is very important to keep a track on all the financial transactions of the partnership business in order to maintain its stability. ... There are a large number of complex financial transactions taking place every day. It is very essential to keep a track on each and every transaction taking place (Glynn ?and Murphy 22). Thus, the significance of maintaining accounts by a company is very high. It would display the exact financial position of the company in the market and disclose the profit or loss incurred by it. It would also help in keeping a track on the total assets and liabilities of the company. Question 2 a.1) Trading Account Trading Account Debit Credit Particulars Amount (in ?) Particulars Amount (in ?) To opening stock 2000 By Sales 95414 To Purchases 57580 By Closing Stock 2745 To Wages 11438       To Gross Profit 27141       Total 98159 Total 98159 a.2) Profit and Loss Account Profit and Loss Account Debit Credit Particulars Amount (in ?) Particulars Amount (in ?) To rent 2650 By Gross Profit 27141 To heat and light 3698       To sundry expenses 950       To Net Profit 19843       Tot al 27141 Total 27141 b) Balance Sheet as on 31st December 2012 Balance Sheet Liabilities Amount (in ?) Assets Amount (in ?) Capital 24770 Fixed Assets    (+)Net Profit 19843 Premises 35000 (-)Drawings 2000 Oven and Equipment 9560    42613 Delivery Van 9580 Long term Debt 20440    54140 Current Liabilities    Current assets    Creditors 2000 Debtors 3098       Bank 620       Cash 4450       Closing Stock 2745          10913 Total 65053 Total 65053 c) Importance of double entry book keeping Double entry book keeping suggests that there should be double entry for each and every transaction into the books of accounts (Miner 21). This method of book keeping helps in dealing in a special way with the opening as well as closing balances at

Tourism marketimg Essay Example | Topics and Well Written Essays - 1500 words

Tourism marketimg - Essay Example These breaks supplement the main holiday. Athens too has become a city break destination because of the numerous attractions it offers. There are various reasons why city break tourism has been growing. There is increased holiday and leave entitlements apart from rising prosperity from double income families leading to higher disposable income (Dunne et al). The perception of travel has changed and besides low cost airlines has played a major role in promoting short city breaks. Motivations to travel is governed by the push and pull factors where the push factors refer to the desire to travel and the pull factors depend upon the choice of destination. The seven push motives were, escape from a perceived mundane environment, exploration and evaluation of self, relaxation, prestige, regression, enhancement of kinship relationships, and facilitation of social interaction while the two pull factors include education and novelty. As far as the push factors are concerned, the perceptions and preferences of people have changed. There is move away from mass consumption of standardized holidays and towards weekend and short break holidays. As far as the pull factors are concerned, Athens has many attractions to offer. Athens, the capital and the largest city in Greece is one of the world’s oldest cities. Athens can take the tourist back to the dawn of civilization. Known as the cradle of civilization and the seat of western philosophy, Athens brings together wisdom, art and culture in its attempt to meet the demands of the modern tourists. It is a city where democracy was born and most of the wise men of ancient times. The most important civilization of ancient world flourished in Athens. The city epitomizes epic beauty and is a magnificent classical testament to ancient grandeur (OT Beach, 2007). About half of Greece’s population lives in