WorksheetsFinancial acumen
Total questions: 15
Worksheet time: 3mins
What does EBITDAR stand for?
Earnings before Interest, taxes, devaluation, Amex and roadworks
Earnings before Interest, taxes, depreciation, amortisation and rent costs
How is Gross Profit calculated?
Sales - cost of sales / revenue
Cost of sales - sales / revenue
Revenue - sales / cost of goods
Sales - cost of goods
What is GPLW?
Gross profit less waste
General profits less wages
General profits less waste
Gross Profit less Wages
What is the correct % sales Growth. This years sales = £32k Last year sales = £30k
2.7%
4%
6.66%
5.25%
On the P&L what is a fixed cost?
Disposables, chemicals, printing & stationary
All stock costs required to make sales
Insurance, rents & business rates
All overheads are classed as fixed as we account them monthly
What are the approval limits for Repair & Maintenace?
UBM £350, SFM £500, SOM £1000, ROD £5000
UBM £350, SOM £1500, ROD £10000
UBM £350, SOM £1000, ROD £5000, Estate Manager £30k
UBM £350, SFM £759, SOM £1000, ROD £5000
What is the blue book used for?
My view & holiday details
Instruction on how to implement control activities
Stock controls
An overview of financial controls?
How many control cycles are there?
25
9
6
5
What is the green book used for?
Payroll instructions
Instruction on how to implement control activities
Stock controls
An overview of financial controls
On the P&L what is a variable cost?
We don’t have variable costs
Disposables, chemicals, printing & stationary
Insurance, rents and business rates
All overheads are classed as variable as they can be different values
What is an optimum?
Expected profit before losses
Average profit the company expects to make
Expected profit after waste & stock loss
The plan margin
What is A&P for on back page expenses?
Accounting & post accounting
Accounting & printing costs
Accruals & Prepayments for expected invoicing
Account & postage payments of all delivered items
What VAT rules apply to gaming?
All gaming has 20% gaming duty, VAT applies to prize machines only
All gaming has 20% VAT applied as standard
They don’t as they are exempt
VAT only applies based on revenue level
How do you calculate the cost of sales?
Opening stock + purchases + closing stock
Opening stock + purchases - closing stock
Opening stock - purchases - closing stock
Opening stock - purchases + closing stock
What costs are included in staff related costs?
Uniforms, credit card charges & training
Travel, accommodation and training
Wages, uniforms, reward & recognition
Linen & uniforms, accommodation and subsistence, training
