2.1.1 internal sources of finance
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finance
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14 Terms
Finance
the management of the investment needed to run a business.
owners equity
personal savings
advantage of owners equity
show commitment to the business
disadvantage of owners equity
limited
when is owners equity used
expanding
retained profits
profits a business has after a year or more of trading
advantages of retained profit
no interest to pay
disadvantages of retained profit
not useful for all businesses
when is retained profit used
any appropriate time
sale of assets
selling items that you own
advantages of selling assets
can improve efficiency
disadvantages of selling assets
the asset will not be on the balance sheet
when is the sale of assets appropriate
when the business is in debt
balance sheet
a financial statement which lists a businesses information.