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câu trả lời |
What are key financial statements that companies provide? bắt đầu học
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Profit and loss accounts, balance sheets, cash flow statements.
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What is the difference between management and financial account? bắt đầu học
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Management accounts are for the internal use of the management team, financial accounts are the company accounts that are required by UK law.
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What is a difference between a profit and loss account and balance sheet? bắt đầu học
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A profit and loss accounts shows the incomes and expenditures of a company and resulting profit or loss. the balance sheet shows company's assets and liabilities at given point in time.
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What is a cashflow statement? bắt đầu học
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It is the summary of the actual or anticipated ingoing and outgoing of cash in a firm over the accounting period. It measures the short - term ability of a firm to pay off its bills.
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Explain capital allowances bắt đầu học
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tax relief on certain items purchased for the business for example tools and equipment.
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bắt đầu học
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founds that are set aside for future expense or long - term debt.
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bắt đầu học
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Insolvency is an inability to pay debts where liabilities exceed assets.
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bắt đầu học
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An agency that incorporates and dissolves limited companies within the United Kingdom.
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bắt đầu học
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Her Majesties Revenue and Customs.
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bắt đầu học
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measure the ability of a company to pay off its current liabilities by converting its current assets into cash. Liquidity ratio calculation is current assets divided by current liabilities.
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Liquidity ratios what can indicate? bắt đầu học
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The ratio is usually around 1.5 but it depends on the sector of activity. A liquidity ratio of less than 0.75 can be early indicator of insolvency.
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What are profitability ratios? bắt đầu học
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Profitability ratios measure the performance of a company in generating its profits. The trading profit margin ratio = turnover - (cost of sales/ turnover).
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bắt đầu học
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What can indicate low margin. Low margins can be due to a growth strategy and it doesn't always indicate poor management.
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What are Financial Gearing Ratios bắt đầu học
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These measure the financial structure of the company which are crucial indicators for the external suppliers of debt and equity as well as for internal management. They help to measure solvency. the payment of interest reduce the profit.
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Why chartered surveyors need to understand and be able to interpret company accounts? bắt đầu học
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To aid in preparing their own business accounts. For assessing the financial strength of the contractors and those tendering for contracts. For assessing competition.
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What is the purpose P & L bắt đầu học
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To monitor and measure profit (or loss). To compare against past performance and against company budgets. For valuation purposes. Calculate taxation. Forecasting
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bắt đầu học
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Creditors are business entities that are owed money by another entity that they have extended credit to. Perhaps, if you have provoded services to a client and they owe payment of your fees, you become creditor to that client.
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bắt đầu học
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Debtors are business entities that owe money to another respective company.
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What are Management Accounts? bắt đầu học
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The internal management use. Accounts prepared for a lender, such as a bank to evaluate how you will be able to repay the funding. These accounts are not be audited externally.
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bắt đầu học
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Financial Statement is forecasts of income and expenditure that can be used as as analytical tool to identify potential shortfalls and surpluses.
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bắt đầu học
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they demonstrate a companies sales, running costs, profit loss over a financial period usually 1 year. They are use to show sales vs expense. They can also be used to identify non- profitable work
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bắt đầu học
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Balance Sheet shows the value
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bắt đầu học
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Cash flow forecast summarises the amount of cash or cash equivalents entering and leaving a company or project entity.
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Cash flow forecast on construction projects bắt đầu học
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Cash flow forecast on construction projects usually show as an S curve. Typically there is a small financial outlay at the start, a steep increase during the midway point and a taper towards the end.
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bắt đầu học
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S- Curve means standard and refers to the shape of the expenditure profile when shown in graphical form.
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bắt đầu học
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At the start expenditure is lower for site set up and enabling works, in the middle of the programme the rate of expenditure will typically increase as more expensive building components such as M&E or steel works are installed. Then it slows down.
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How financial ratios, statements, cash flow forecast and S- curve are used by surveyors? bắt đầu học
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To track, analyse and assess business accounts and performance. For assessing the financial strength of contractors. To compare actual progress of the work against pre- contract predictions.
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bắt đầu học
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A separate account owned by a third party, held on behalf of two other parties. A bank account with defined contractual conditions for the release of founds. Project bank account. Payment certificates for relese of founds
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When have you used company accounts in your work? bắt đầu học
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To assess the financial strength of contractors at Pre - Qualification Stage and tender stages.
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How do you analyse a company's accounts? bắt đầu học
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I would look at the worning signs by calculating ratios such as liquidity ratios, profitability ratios and gearing ratios. I would calculated ratios myself.
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How do you carry out a credit check? bắt đầu học
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I use the Credit Safe website to which my company subscribes to access a companys accounts. I consider both the group accounts and the company accounts. I would also calculate ratios and involve clients accountants.
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what are signs of insolvency bắt đầu học
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low credit score and liquidity ratio below 0.75, a failing working capital ratio, a low return on equity, company reliant on loans, failing cash flow statement.
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Would you recommend the appointment of a contractor with low credit rating bắt đầu học
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No as they might be increased risk of the contractor failing to deploy sufficient resources and materials to the project and increase the risk of contractor insolvency.
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What would you do if the client wanted to appoint a contractor with a low credit rating? bắt đầu học
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Performance bond that my client could use if main contractor would not perform, review tender submission if its not excessively front loaded, review interim valuations accordingly
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