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Sunday, 13 January 2013
Tuesday, 27 November 2012
Provide a sample job costing and production schedule for a specified activity.
A technique to keep track of all the labour
and material costs for each job required.
5. Provide an accurate description of the legal responsibilities governing contracts.
An agreement made by 2 or more people and consists of the
offer and the agreement
The three legal responsibilities include:
•
The Supply of Goods and Services Act 1982.
This act covers the work done by
professional along with any products supplied. Anyone who is supplying a
service to you is including in this be it a dentist or a local café.
•
Contractual Agreements
This is either a
verbal or written agreement between 2 or more persons that is legally binding. First there is an offer made and them accepted by the other parties.
A promise of payment of some form, an agreement on when it will be done and the
terms and conditions (fulfilling the promise)
•
Quotes and Estimates.
An estimate is a
guess on how much the work will cost, it is usually based on the sellers past
working experience and on what they can see there and then.
A quote is the
price that you will pay no matter how much work is involved. You should have a
quote put in writing and should include what is to be done, the time it is to
be done in and any materials required.
4. Provide an accurate description of financial management techniques, including financial forecasting and cash flow management.
Financial management techniques is the planning, monitoring and organising of
your company resources and ensuring that nothing is wasted, and that profits
are gained.
Some techniques that can be used are
Setting goals: Have
a good clear understanding of what you are aiming to achieve
Budget creation:
List all sources of outgoing and incomings make a realistic budget that
you can stick to.
Budget maintenance:
Keep an eye on your budgets by tracking expenses
Financial forecasting is thinking about and preparing for the future
and controlling the cash flow of your company. When starting out this is more
difficult to do as it is really a best guess of what will happen financial with
your business and new businesses will not yet have the trading history needed.
Cash flow management allows you to monitor and estimate the amount
of cash you will have at any one time, allowing you to see the cash outflow and
inflow. A cash flow analysis should be done often so you can prepare and deal
with any cash issue that may arise.
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