Please see below for some guidance notes on TMA03.
To help with this you may wish to have a look at Paula’s Pipes in Book 3 and work through the figures there.
Throughout TMA03 you need to explain the usefulness of the financial statements so look at Session 3 and comment on the usefulness (or limitations) of the statements for assessing the trading performance and financial strength of the business. Most of this is book-work that you should be able to pick up by reading about each of the financial statements. Also don’t just look for “bottom line” figures, but how these figures are arrived at. For example in a P/L A/c you need to pay attention to the section that looks at expenses. In addition look to see how the financial statements are linked together.
You also need to comment on trends and any concerns you identify relating to the financial positon of the business. Evaluate how the business has been performing commenting on features that you think are significant. Examine the financial position and performance that affects profit, cash management and the financial structure of the business. You may wish to calculate percentages or ratios in this section. Also put yourself in the position of the owner and consider what you think would be most concerning to you. Working capital in relation to Balance Sheets is always a good concept to be mindful of.
Be selective about the issues you identify, describing them and associated actions concisely. A few relevant points, explained in some depth and illustrating the concerns will score more marks than a list of issues which are not explained in very much depth.
There is no specified format for this assignment. It does not have to be in a report format. However, make sure that you answer all of the questions and number the questions clearly
Use the order calculator below and get started! Contact our live support team for any assistance or inquiry.
[order_calculator]