(0.5 points) A pay stub is a record of the hours you’ve worked or your salary an vacation times and then also your final pay. Lesson 3 (3.0 points) 1. What is financial responsibility? (0.5 points) Financial Responsibility is a value shared by many people. It means being responsible about the way you spend your money.
Why? 1.4 Identify sources and types of information and advice available in relation to employment responsibilities and rights. Contracts Job description Websites available to access such as www.direct.gov Terms and conditions set by employment Additional learning support Citizens advice bureau 2.1 Describe the terms and conditions of own contract of employment. It tells me what my pay will be per hour including pay on weekends. That at the end of each year I will be assessed on how well I’ve done and what I’ve achieved throughout the year as an employee.
(0.5 points) An agreement where a payment is made for the temporary use of a good, service or property owned by another individual or company. 2. What is a financial plan? (1.0 points) Financial Planning is an ongoing process to help you make sensible decisions about spending money that can help you achieve your goals in life. 3.
The options for above the line deductions are the standard deduction (or) itemization, and the personal exemptions. If itemization is used items like mortgage interest, student loan interest paid, and moving expenses all come into play. The final AGI figure is what is used to calculate your tax liability/refund for the year. Chapter 13 (5 pts) 3. What is an Installment Sale?
Why do you feel this ratio is most important? What are some methods of analyzing financial statements? As a potential investor, what risks do you want to identify with financial statement analysis? Week 2 DQ 2 Relevant Financial Information for a Small Business Please respond to the following discussion question by replying to this thread. Your response should fully address all elements of the question and be a minimum of 200 to 300 words long.
* Hours of work: Your employer will confirm here in this section, the hours you will be working for them. * Salary: Here the employer will say how much you will earn in the year, or possibly the hourly rate also depending on the contract you have. 2a) List three key points of legislation that affect employers in a business environment. * Pay and Pensions: Businesses with a fair amount of staff should have an Occupational Pension scheme. Smaller businesses should have a stakeholder Pension Scheme.
Each department head has to prepare a statement of the budget, sign it, commit to it, and send it to the general manager. “The purchase order in the CP3 system is the source document for all of the company’s expenses recorded in its accounting system, in other words it is the document that the hotel controller uses to charge expenses on the hotel’s books” (DeFranco and Lattin 2007). In other words as long as it falls within the monthly budget it can be approved right away without waiting for an invoice. The payroll part of the system is set up to help see not only who shows up for work and who does not but also if any overtime has to be paid out which might put the monthly budget over what it is set at. That of course would not be good for the hotel because they would be losing money instead of making it.
Whether you will be buying it outright with cash, or taking out a car loan. In either case you want to want to budget the price. In the case of a loan you want to find out how much you can afford to spend every month and not be eating ramen noodles every night. You also can not forget to include the price of title transfer and registration fees on top of the price of the car. Plus you then want to get a quote from your insurance company to find out how much your insurance will be
How People Make Economic Decisions 6/06/2011 How People Make Economic Decisions Individuals make decisions each day when they decide what items that they purchase and what services to pay for. Decisions consumers make depend on many factors where options are weighed and substitutes compared to one another based on the marginal benefit and the marginal costs of the options they hold. Recently, I needed to make a decision concerning what television set I wanted to purchase. My options were narrowed down to the choice between two televisions- “A,” a 42” HD LCD for $400.00, or “B,” a 40” HD LCD with Google internet for $650.00. The marginal cost, or the additional cost I would incur for purchasing television “A” (when compared to “B”) is losing the internet service and a total of $400.00 and the marginal benefit is the size of an added two inches.