Monitoring the business
Ratios, accounts and the importance of financial information.
Fill the gaps: 1 · Match the pairs: 2 · Multiple choice: 3 · Numeric answer: 11 · Short answer: 1 · Written answer (self/teacher assessed): 1
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Read the passage: Kavanagh's Hardware, Tullamore
Kavanagh's Hardware is a family-owned private limited company in Tullamore, Co. Offaly. It sells building materials, tools and garden products to tradespeople and households. Last year it installed an electronic point-of-sale (EPOS) system linked to its stock records. Extract from the accounts (year ended 31 December): • Sales: €900,000 • Gross profit: €270,000 • Net profit: €45,000 • Current assets: €180,000 (including closing stock of €110,000) • Current liabilities: €100,000 In January a storm damaged the shop's roof and stock, causing a loss of €80,000. The premises and contents were worth €600,000 but were insured for only €450,000. During the clean-up, a sales assistant, Tomás, worked a basic 39-hour week at €16 per hour plus 6 hours' overtime paid at time-and-a-half.