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Money Bag

Unit 3 - Finance & accounts

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Chart Increasing

Unit 1 - Introduction To Business Management

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Briefcase

Unit 2 - Human Resource Management

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Direct Hit

Unit 4 - Marketing

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Factory

Unit 5 - Operations management

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Bar-Chart

Unit 6 - Assessment

What are Final Accounts?

<ul>
	<li>Financial statements made by businesses at the end of a fiscal year.</li>
	<li>A snapshot of transactions, revenues, and expenses.</li>
	<li>Tells us about a company&#39;s financial health.</li>
</ul>

👥 Internal Stakeholders: People within the business.

<ul>
	<li>Shareholders: Own parts of the company.</li>
	<li>Managers: Run different segments of the business.</li>
	<li>Employees: People working day-to-day for the business.</li>
</ul>

🌍 External Stakeholders: People outside the business but affected by it.

<ul>
	<li>Customers: Those who buy the company&#39;s products or services.</li>
	<li>Suppliers: Provide materials or services.</li>
	<li>Government: Big brother watching!</li>
	<li>Competitors: The business rivals.</li>
	<li>Financiers: Banks and others lending money.</li>
	<li>Local Community: People living around the business location.</li>
</ul>

<ul>
	<li>
	Shareholders 📊

	<ul>
		<li>Want to know if their money is safe.</li>
		<li>Check if the company is profitable.</li>
		<li>Real-World Example: Think of someone checking the health of their plants. They want to see growth!</li>
	</ul>
	</li>
	<li>
	Managers 📋

	<ul>
		<li>Use accounts to set goals.</li>
		<li>Helps with budgeting.</li>
		<li>Real-World Example: Like a coach tracking team stats to improve performance.</li>
	</ul>
	</li>
	<li>
	Employees 👥

	<ul>
		<li>Check if the company is profitable = Job security.</li>
		<li>Hope for pay raises.</li>
		<li>Real-World Example: Workers hearing of a company&#39;s success and hoping for bonuses.</li>
	</ul>
	</li>
	<li>
	Customers 🛍

	<ul>
		<li>Want to ensure the business will keep providing products.</li>
		<li>If a company seems unstable, they might jump ship!</li>
		<li>Real-World Example: Imagine not knowing if your favorite ice-cream shop will be open next summer.</li>
	</ul>
	</li>
	<li>
	Suppliers 🚚

	<ul>
		<li>Check if they should give more time to pay or demand cash now.</li>
		<li>Real-World Example: A farmer deciding if they should continue giving fresh veggies to a restaurant on credit.</li>
	</ul>
	</li>
	<li>
	Government 🏛

	<ul>
		<li>Ensure businesses follow the law.</li>
		<li>Tax collection!</li>
		<li>Worried about high unemployment.</li>
		<li>Real-World Example: Traffic police checking if cars have valid permits.</li>
	</ul>
	</li>
	<li>
	Competitors 🥊

	<ul>
		<li>Compare their success against others.</li>
		<li>Real-World Example: Sneaking a peek at someone else&#39;s test score.</li>
	</ul>
	</li>
	<li>
	Financiers 💰

	<ul>
		<li>Assess if a business is good to lend money to.</li>
		<li>They look at things like &quot;gearing&quot; (a company&#39;s debt level).</li>
		<li>Real-World Example: Think of someone assessing if they should lend their bicycle to a friend.</li>
	</ul>
	</li>
	<li>
	Local Community 🏘

	<ul>
		<li>Looking for job opportunities and community growth.</li>
		<li>But also, is the company eco-friendly?</li>
		<li>Real-World Example: Neighbors being excited about a new mall but worried about the noise it might bring.</li>
	</ul>
	</li>
</ul>

Remember the local community point? Companies should be environmentally conscious. No one wants a factory that&#39;s bringing in jobs but also a ton of pollution

 
🎓 Quick Test: Can you recall the main interest of suppliers when looking at a company&#39;s accounts? How about financiers?

&nbsp;

Remember, finance isn&#39;t just about numbers, it&#39;s about stories they tell! 📖📈

 
Happy Studying! 🌟📚

Unlocking the Power of Final Accounts: A Guide for Stakeholders

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Standard Level

Business Management SL

Unit 3 - Finance & accounts

Unlocking the Power of Final Accounts: A Guide for Stakeholders

Table of content

Introduction 📌

Stakeholders - who are they? 🎭

Unlock the Full Content!

Unit 3 - Finance & accounts

Unlocking the Power of Final Accounts: A Guide for Stakeholders

Table of content

Introduction 📌

Stakeholders - who are they? 🎭

Unlock the Full Content!