Small Business Operations and Financial Reporting: AKS IT Services

This report provides a comprehensive analysis of AKS IT Services, a small business offering consulting services. It examines the company's operations, financial management, and strategies for expansion in a competitive market. The report covers essential aspects such as cash flow management, sources of funding, and the creation of financial statements (balance sheets, profit and loss accounts, and cash flow statements). It also delves into forecasting, budgeting techniques, break-even analysis, and the use of budgets for performance monitoring and control, including variance analysis. Furthermore, the report discusses the importance of financial documents and legal compliance, including tax, employment, record-keeping, and health and safety regulations. The analysis highlights the significance of financial planning, resource management, and adherence to legal frameworks for small businesses, concluding with the recommendation to use the provided software to frame and improve several financial reports.

Managing and
Running a Small
Business

EXECUTIVE SUMMARY
From this document, it can be analysed that small business are operating and setting up by
less fund or capital and people for offering commodities and services so individual can make
determinations of purchasing. To comprehend about small business AKS IT Services Company
has been taken which operate its business by offering number of consulting facilities to its target
audiences and assist to maximise the business execution in rivalry business atmosphere. This will
assist to enlarge the acknowledgement about small business, essentialness of fiscal reports and
laws that are essential to make expansion in business.

INTRODUCTION
Small business management is an activity and procedure which usage by businessperson
at time of operating their production actions and functions. Entrepreneurs may need to
understand that how to administrate employees, appropriate financial information and attain
financial resource or company resources and formulate diverse trade determinations (Wong,
Holmes and Schaper, 2018). To operate and manage a small business, the administration of an
organisation develops and formulates effective plans of actions, policies and strategies as well
tactics so that business can operate in appropriate form. To develop and enlarge the
acknowledgement concerning small company and its require AKS IT Services has been chosen
which is a undersized computer authority offer diverse facilities to its target audiences by
offering Software that utilises to monitors payment and consultant facilities of business
enterprise. This written document will defines about needs of small business to tackle assets to
attain business aims, measurement of different process of consumer relation administration and
plan of actions of making business expansion at global level.
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ACTIVITY 1
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ACTIVITY 2
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TASK 3
P4.
Cash Flow– It indicates to a document and report that framed and designed by including several
acts in context of finance which is identified as fund flow. It assists in defining the productivity
phase of their production in rival company atmosphere (Steingold and Steingold, 2019) Each
establishment should improve fund flow report by managing and determining their actions that
can assist in managing the elevated profit margins by assisting and monitoring their actions
which can assist in managing the high revenue and productiveness in competitive business
surroundings. Business is supported to monetary value and its ebullient products that assist to
operate production by executing each process and enlarging manufacturing appropriately. The
AKS IT Services is also recommended to its target audiences to mange effective records of
business transaction with the help of its software and framing fund flow document so all action
can be executed in improved manner.
Sources of funds
To operate a company, finances and capital are significant to form substantial of each
activity and procedure by utilising fund and administrate the elevated execution in aggressive
trade are (Park, 2018). Lacking of capital it becomes complex for business incorporation to
organise its business operations and acts. So there are numerous resources that are utilises to
operate company and maximising the construction that are defined as beneath:
Own saving– It mentions of an individual and person has determined to set up and operate
business then it should have own saving that can be utilise to purchase goods and commodities
and manage relations with providers in effective manner. It assists in incorporating to rise
separately by satisfying crucial necessities and demands of their production so all divisions can
be coordinated efficiently.
Equity finance– It is another source that utilises by organisations by issuing share to public
and workforce who are making their contribution in operating business firm in adequate manner.
It assists to conduct the business by gathering capital in appropriate manner. The respective
cooany has this chance to organise finance from impartiality assets by accumulating money and
managing the actions constantly.
Loans from family and friends– This way and tool of finance is supple that can be organize
by company apprehension for the motive of operating production and developing profit margins
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ratio. The administrator of respective firm has alteration to conduct money by raising finance
from associators and family so that trade of a company can be set up in easier way and manage
profits in efficient manner.
Bank loan– It is other form of finance that is utilises by mainly of commerce administration
to operate and administrate the company actions and operations of a company. Persons who are
taking finances from banks and other financial institutions, they require to offer safety for
assurance that they can assist to run smack production in effective manner (Tidd and Bessant,
2018). AKS IT Services company can management all actions and frame or create cash slow
report by raising loans form bank that require to pay after granted time duration. So all process
and functions can be administrated appropriately and maintain the effective execution.
Balance Sheet, P&L and cash flow statement of the Silent London Limited:
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Profit and Loss Account at the year ended
Cash flow Statement
Cash budget for the year
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Forecasting and budgeting
Forecasting define as the determination of necessities and including the quantity that are
departing to acquired in production with the object of operating company. It is vital that should
be performed by administrators who have information and experience towards budgets and
determining income as well as expenditures that are needed in company (Pakroo, 2018). In AKS
It Services, administrator are utilising estimating and improving finances by monitoring earning
and expenditures so all business actions and operations can be operate in adequate form.
The techniques for budgeting and forecasting are as defined:
Calculating the moving average– This tool is utilise by administration of respective venture
for acquiring the view and impacting the norm and standard by operating company. It assists in
increasing the distinguishing and understanding information regarding accounts and enable in
developing business of enterprise.
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Time series data– This method is utilised to determine and disclose the information
progression in record and graph that can be easier to understand and develop the production
execution in rival company atmosphere (Kremer, Rizzuto and Case, 2019). It also assists in
carrying out all utilises and operation of respective firm n formulating and making visual
communication that manage all business activities and operations in term of profit and
productivity in amended form.
Dealing with seasonality– It defines the reliability of a business is pledging with diverse
time. As in same period the need of commodities of goods and facilities develop and in some
time it minimise that become a contract for enterprise to contract with it. AKS IT Service is
recommending to its consumers to uses this tool and system so all data in term of need of
commodity of goods in period that can be understood appropriately.
P5.
Break Even analysis– It is monitored as a structure with fiscal tool in context of obtain the
relevancy and equitability of monetary value. This refers the prominence and benchmark of
business by operating firm and manages same post in rivalry business atmosphere. By utilising it,
a production apprehension get data at what costs consumers are prepared to maintain equality
like no profitability and loss circumstances (Hickman and Silva, 2018). It is also helps in
analysing the relations among fixed and variable resources of establishment.
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