1. Pre- starter
What is included in a business budget?

2. Unit 3 Topic 3: Business banking and budgeting

3. Starter – What do businesses need to do with regards to money?
Aspire: Suggest methods business can use to manage their budgets.
Challenge: Identify the factors of a business budget.
Starter –
What do businesses need to do with regards to money?
receive payments (for example from customers);
make payments (for example to suppliers); and
keep a record of all transactions.
All incoming – outgoing = profit/loss
Keywords: money, balance, debt, payments, salary, resources, buildings and income.

4. Aspire: Suggest methods business can use to manage their budgets.
Challenge: Identify the factors of a business budget.
Starter –
Let’s discuss – how do businesses and customers pay for items ?
Direct debit
Standing order
Telephone banking
Cash
Cheque
Credit and debit card
Chaps and bacs
Paypal
Online banking
Mobile banking
Faster payments
Keywords: money, balance, debt, payments, salary, resources, buildings and income.

5. Aspire: Suggest methods business can use to manage their budgets.
Challenge: Identify the factors of a business budget.
Telephone banking
Keywords: money, balance, debt, payments, salary, resources, buildings and income.

6. Why must businesses keep track of their finances?
Aspire: Suggest methods business can use to manage their budgets.
Challenge: Identify the factors of a business budget.
Why must businesses keep track of their finances?
Keywords: money, balance, debt, payments, salary, resources, buildings and income.

7. Ideas about managing money:
Aspire: Suggest methods business can use to manage their budgets.
Challenge: Identify the factors of a business budget.
Ideas about managing money:
Banking – electronic / telephone, card payments, transfers, cash-flow forecasts / budgeting, financial planning.
Keywords: money, balance, debt, payments, salary, resources, buildings and income.

8. Money available for expansion
Aspire: Suggest methods business can use to manage their budgets.
Challenge: Identify the factors of a business budget.
Keeping track of finances; flexibility – businesses affected by external factors (eg government), income, investments, unforeseen
Money available for expansion
/ investment in goods, employees or training.
Keywords: money, balance, debt, payments, salary, resources, buildings and income.

9. Aspire: Suggest methods business can use to manage their budgets.
Challenge: Identify the factors of a business budget.
Using topic text 3:
What payment methods could Paul Chater and Sue Baker use to accept payments from customers?
Keywords: money, balance, debt, payments, salary, resources, buildings and income.

10. Cash flow forecast

11. Let’s think about cashflow. Try this quiz:
Aspire: Suggest methods business can use to manage their budgets.
Challenge: Identify the factors of a business budget.
Let’s think about cashflow.
Try this quiz:
Let’s read about Toms cash flow
What are the problems
What can Tom do?
Keywords: money, balance, debt, payments, salary, resources, buildings and income.

12. Let’s think about cashflow. Let’s read about Toms cash flow
Aspire: Suggest methods business can use to manage their budgets.
Challenge: Identify the factors of a business budget.
Let’s think about cashflow.
Let’s read about Toms cash flow
What are the problems
What can Tom do?
Overdraft
Credit terms
Carry less stock – issues?
Keywords: money, balance, debt, payments, salary, resources, buildings and income.

13. Aspire: Suggest methods business can use to manage their budgets.
Challenge: Identify the factors of a business budget.
Starter
Why is Tom’s Toy Shop’s closing balance at the end of December (£24,500) different from the predicted profit
(£15,000)?
Keywords: money, balance, debt, payments, salary, resources, buildings and income.

14. How can a business raise money?
Aspire: Suggest methods business can use to manage their budgets.
Challenge: Identify the factors of a business budget.
How can a business raise money?
What do they need to do to persuade investors?
Find out what a business plan is and what the key elements are – key notes in your book
Keywords: money, balance, debt, payments, salary, resources, buildings and income.

15. Business plan interrogation!
Aspire: Suggest methods business can use to manage their budgets.
Challenge: Identify the factors of a business budget.
Business plan interrogation!
In pairs – list the advantages and disadvantages of the plan. Would you support it??
Coffee Kiosk
Keywords: money, balance, debt, payments, salary, resources, buildings and income.

16. Unit 3 Topic 3: business banking and budgeting
Read the topic summary, check the glossary and take the quiz