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Wednesday, April 21, 2021

IB Business Management Depreciation worksheet 4

 

IB Business Management 

Depreciation worksheet  Joe’s Pizza

 

 

IB Business Management Depreciation worksheet

Joe’s Pizza(JP) was started by Ian Lefkowitz in the year 2000. It is a private limited company and has currently 5 locations in the US. It is famous for its cheesy and top-quality pizza and is one of the top pizzerias in the US. The restaurant wants to expand and grow organically. In the past, the company faced allegations and lawsuits due to poor hygiene. Hence, the company wants to improve its corporate image by using popular CSR strategies and wants to spread the PR message that their kitchens are now safe and that all the required sanitation is done regularly.

Joe’s Pizza recently hired a new accountant to manage and project their financial statements. While preparing the records , the accountant had forgotten to include depreciation of the Joe’s fixed assets. The value of the fixed assets was  $250 000 when they were purchased. The accountant then calculated on the basis of a  five year life for the assets and estimated a scrap value of $75 000.

 Financial information for Joe’s Pizza Ltd for the years 2019 and 2020

 

2019

2020

$

$

Sales Revenue

500 000

600 000

Cost of Goods Sold

150 000

230 000

Non- operating incomes

70 000

90 000

Expenses

100 000

150 000

Interest

10 000

12 000

Tax

35 000

45 000

Table 1

 Questions:

a)     Accountant has forgotten to include provision for depreciation in annual accounts. Explain two impact of this on financial statements of JP.

 

 

(2 marks)

b)    Using the relevant figures from the stimulus, calculate the annual amount of depreciation. Show all your workings

 

(2 marks)

c)     Using your answer ( b) and information given in the  table 1,  prepare profit and loss account for both the years and calculate  profit after interest and tax(PAIT)

 

 

( 6 marks)

 

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Friday, April 16, 2021

3 Cs of a Successful Teacher- Clarity, Confidence, and Consistency

 

3 Cs of a Successful Teacher- Clarity, Confidence, and Consistency

3 Cs of a successful teacher


Teaching is an art. Even if you have a lot of knowledge and you don’t know how to convey your message properly, you can never become a successful teacher. Let me tell you that the most successful teachers in the world have three things in common. And we call them the 3 Cs of a successful teacher. Hi guys! Welcome back to my YouTube channel, and in today’s video, I am going to tell you about the 3 Cs of a successful teacher, so make sure you watch this video till the end. But before we start, make sure you subscribe to this channel, and don’t forget to hit that bell icon, so you never miss any updates. Without further ado, let’s get into this.

Clarity

When you are teaching, you are not just telling a bunch of students about something. Well, teaching is much more than that. You need to communicate effectively with your students, parents, and other teachers as well as the principal of the institute. Now, let me tell you that clarity is the most important component of effective communication. Whatever you are writing or saying, you need to express it clearly. You need to understand that a clear message generates better and instant results. And it might require the use of simpler words and a suitable tone. So, what are the things you should be clear about? First, you should plan all of your lessons. Figure out how much syllabus should be covered each week. Moreover, you need to organize your classroom so all students getting enough attention. We all know that managing a class can sometimes be a challenging task. However, if you have clarity, patience, awareness, and good timing, you can effectively manage a classroom. You should set clear rules and boundaries for your students. The next step is to be clear about lesson delivery. You should know where the lesson is going. I would highly recommend that you first plan which topics you are going to cover. This step also involves clarity about the outcome of the lessons. You should know what you are expecting students to learn from your lessons. Let me also tell you that a successful teacher is clear about the expectation of students, parents, as well as the school. You need to understand that when classroom expectations are clear, students thrive. On the other hand, murky expectations can make your students feel confused and reluctant to engage. With that being said, we need to move to the next C, which is Confidence.

Confidence

Great teachers always have strong connections with their students. Think about it, if you are connected to your students, they will try to behave better. And if they don’t behave better, you will be able to easily manage their behavior. On the other hand, if you are not connected to your students, they will not want to learn from you. And this is one of the several benefits of developing a connection with your students. So, how do you build a better connection with your students? Well, you will have to be confident. Think about it, greater self-confidence gives you positive energy and you are able to take action. You are highly motivated as well as energized. And if you are a teacher, you already know that being highly energized is essential to teach effectively, right? Here, the most important thing is to stay confident about delivering lessons and the content. You need to understand that your beliefs in your teaching capabilities could impact how you perceive, approach, and teach your students. This is the reason why you need to be confident about subject content and language.

Consistency

Lastly, you need to be consistent. Although this is the most obvious, I think it is also the most difficult of these three Cs. Well, we all have to admit that being consistent is one of the most challenging tasks on this planet. You need to be deliberate with factors such as how much time you spend building connections with all students, and the tone of your voice to each student. You will have to make sure that all aspects of your behavior are consistent. It will make your students feel that you care equally about all of them. Here, it is worth mentioning that you should always avoid favoritism. Always keep in mind that children easily notice and judge based on that. In simple words, follow your regular routines and be “predictable” in your emotional responses.

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Sunday, April 11, 2021

Makasana – Bhakti Enterprise [MBE] Depreciation Worksheet 3

Makasana – Bhakti Enterprise [MBE]

 

Business management worksheet

Makasana-Bhakti Enterprises[MBE] is a joint venture in Dubai, has been successfully running a huge chain of conglomerate business projects like health, construction, eduction, entertainment, etc. One of the prestigious projects is education. MBE has a chain of schools from preschool to college education. The group has around 50,000 students.

 MBE has fixed assets with an original value of $800,000. All fixed assets of the MBE are depreciated with an annual rate of 17%.

 

MBE’s Profit and Loss Account for the  year 2019

                                                                                      

 

$

Revenue

x

Less: Cost of Sales

(350,000)

GROSS PROFIT

350,000

Less: Expenses

(200,000)

NET PROFIT BEFORE INTEREST AND TAX

y

Less: Interest

(10,000)

NET PROFIT BEFORE TAX AND AFTER INTEREST

140,000

Less: Tax

(25,000)

NET PROFIT AFTER INTEREST AND TAX

115,000

(-) Dividend

(35,000)

RETAINED PROFIT

80,000

 Questions:

 

a)    Identify two external stakeholders of MBE

[2 marks]

b)    With reference to  MBE Explain two  advantages of joint venture

 

[ 4 marks

c)    Calculate the missing figures ‘x’ and ‘y’.

[ 2 marks]

d)    Prepare the revised profit and loss account for MBE incorporating the amount of depreciation.

 

[ 6 marks]

e)    Explain two differences between straight-line method and reducing balance method

[ 4 marks]

f)     Calculate gross profit margin and net profit margin.

[ 4 marks]

 

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Friday, April 9, 2021

QUEENSMOUNT LIMITED DEPRECIATION WORKSHEET 2

 

QUEENSMOUNT LIMITED (QML)- DEPRECIATION WORKSHEET

Depreciation worksheet


Rachel has set up a private limited company named QUEENSMOUNT Ltd (QML). Rachel’s family owns the majority of shares. QML is specialized in manufacturing smartphones, laptops, smartwatches, mp3 devices, and other various electronic gadgets. QML’s consumers are teenagers to adults that keep up with the trend and modernity. At the end of both years, Rachel has asked her finance department to present a record of all the figures for the years 2020 and 2021.

 

Details

31 March 2020 ($)

 31 March 2021 ($)

Revenue

50,000

54,000

Expenses

9,400

10,200

Cost of sales

21,600

23,800

Fixed assets

60,000

70,000

Interest

1,000

1,500

Tax

2,000

2,600

 

As per the QML’s accounting policy, all the fixed assets have been depreciated at the rate of 8 % per annum using the straight-line method.

 Questions

a)      Define the term private limited company.

[2 marks]

b)     State two differences between fixed assets and current assets

[ 4 marks]

c)      Calculate the annual amount of depreciation. Show  the formula and all workings

 

[ 4 marks]

d)     Using the financial information provided for 2020 and 2021, prepare a  profit and loss account for both the years by calculating profit whilst incorporating the provision for depreciation.

 

 

[ 8 marks]

Sunday, April 4, 2021

IB Business Management Depreciation Worksheet

 

IB Business Management Depreciation Worksheet

MB Ice(MBI)

Business management depreciation work sheet

Mill and Bill have set up a private limited company. The registered business name is MB Ice ( MBI). Mill and Bill hold the majority of shares. They make and sell a variety of ice creams. Their customers include local shops,  restaurants,  and hotels. They also have the company-owned  MB Ice Café.

The finance department of MBI presented the following key figures from the records for two years 2019 and 2020.

 

2019 ( $)

2020 ( $)

Sales turnover

35,000

42,000

Cost of sales

23,800

30,200

Expenses

6,800

8,200

Non-operating incomes

2,200

2,800

Net profit for the year

6,600

6,400

Fixed assets

40,000

40,000

Current assets

24,200

28,100

Current liabilities

12,000

13,800

 As per the company policy, fixed assets are depreciated at the rate of 5 percent per annum using the reducing balance method.

However, on examination of accounts, it was discovered that depreciation was provided for both years while calculating profit.

 Questions:

a)     With reference to  MBI, explain two features of private limited company

 

[ 4 marks]

b)    Explain the following:

        i.            Straight-line method of depreciation

      ii.            Reducing  balance method of depreciation

 

 

[ 4 marks]


c)     Using the financial information provided for 2019 and 2020, prepare  profit and loss accounts for two years to recalculate profit incorporating the provision for depreciation.

 

[12 marks]


Monday, March 29, 2021

Business Management and Studies Financial Ratios Quiz

 

Business Management/Studies

Financial Ratios - Quiz

Financial ratios quiz


a)      ……………………………………a ratio that compares a firm’s current assets to its current liabilities.

b)      ……………………………..….calculated by dividing the gross profit   by sales revenue, expressed as a percentage.

c)       …………………………………….assesses the returns a firm is making from its capital employed.

d)      …………………………………….calculated by dividing the net profit before interest and tax ( NPBIT)  by sales revenue, expressed as a percentage.

e)      ………………………………………a ratio that subtracts stock from current assets of a  firm and compares this to its current liabilities.

f)        ……………………………………….measures on average, the number of days a firm takes to collect money from its debtors.

g)      ………………………………………measures how quickly a firm’s stock is sold and replaced over  a given period.

h)      ……………………………………………measures the extent to which the capital employed by a firm is financed from loan/external capital.

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Credit: Business Management Course Companion, by Lokie  Lomine and others, OUP.

Download quiz sheet with answers

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