Financial Cycle (1 Viewer)

[chris42]

Hey,

I asked the advice line about what they link about the financial cycle. They said to know it in general, but rather than knowing what each step is, you should more know how to relate it to questions, such as knowing that is is a tool to plan and buget and plan for the future.

 

[AGB]

i hav lost all confidence in the advice line. i rang them up the other night with an economics question just to see whether or not the people there were any decent...(the question was the definition of international convergence) and the guy rambled on something about communism and market economies.....no idea.......

i think ill just be referring to the syllabus and textbooks from now on.......

in regards to the planning cycle, i dont really wanna take the risk of not knowing the steps, especially when they are in the syllabus, which means that we could easily be asked it...

given that it would only take no longer than 10 minutes to learn them, i think it would be worth it...

however, that is just my opinion!!

 

[chris42]

Yeah I've worked out an acronym to remember them.. very weird one but it does the job.

A
D
C
R
I
M
P
M

 

[Dash]

Whats the sentence that goes with it?

 

[chris42]

Acessing the present financial position
Determining financial elements
Cash flows (Planning)
Reports ( Preparing)
Interpreting Reports
Maintaining Records systems
Planing Financial controls
Minimising financial risks and losses

 

[truly-in-bliss]

hey AGB....although the advice line is open...but there will be a concentration of teachers when it gets closer to the actual exam... by concentration i think they are getting more teachers ....

check out the time table... biz's special slot comes in after the 27th of october.... 1 wk b4 our biz exam...

http://users.on.net/unix/adviceline.jpg

 

[Dash]

Argh... I can't wait that long

 

[AGB]

the thing i dont know about the advice line is that you dont know whether or not you are getting a good teacher or a bad teacher...and there are certainly some shockers there...

 

[Jessisbored]

thats wrong...

its :
A
D
D
C
F
I
M
P
M

 

[countrychick]

Hi all,

The way I remember the Planning Cycle is:

A
D
D
P
P
M
P
M

I find this really effectives as you are only using a minimum amount of letters

Assessing the present financial position
Determining financial elements of the business plan
Developing budgets
Planning cash flows
Preparing reports
Maintain record systems
Plan financial controls
Minimise risks & losses

Hope this helps to you all.
I have posted my summaries so far so check them out.

 

[crazy_horse]

Hey will we be required to construct a business report for the exam?

 

[superbird]

crazy_horse: simple answer is definately YES