This one I don't know if if you seen if you've seen fbm is a boat building business. Is this one familiar to you? I've put it on so you can draw doodle. Oh, that's good then and I have I say I randomly picked the one. Paper one. Okay, that's not a bad place to start, is it? Paper one? Okay. So gives you some information at the top here. We'll come back sort of to that, but it's a boat building business. I would always in these, underline the numbers, okay? You will be using quotes and things or application in certain bits of the exam. The easiest way to prove application is use the numbers that they have given you. Okay? So fbm is a boat building business that has 100 skilled employees. The operations director is concerned that fbms hold high levels of inventory. Inventory. Do you know what inventory is? I tend to use another word for inventory, but stock, Yep, very good. She is also concerned that the business is starting to experience this economies of scale. The finance director has been asked to analyze fbm's cost and output data and the extract shown is table 1.1. So variable costs, fixed costs and number of boats made each year. Okay. So nothing too sort of complex there. So define this economies of scale worth two Marks. Do you know what this economies of scale or economies of scale is? Either of them. Do you know what that is? Can you remember anof scale is when a certain number of production would sort of result in maximum efficiency and the minimum cost. Excellent. So economies of scale. So not not dieconomies. Okay. Economies of scale. Is where? Output is increasing, which means the average cost. Is decreasing. Okay, sorry my type I but my typing is lazy. Okay, so excuse my spelling, but anyway, I'll just type quickly as we go along. So economies of scale is where output is increasing, which means average cost is starting to decrease. So what's this economies of scale? Have you heard of it? Yeah. The well, the ends of the graph, it is the end of the graph of view. Yeah would you be able to define it then? How would you define it where the number of production actually results in a higher cost? Yeah, just be very you're right. Just be very careful. Whenever you're talking about economies of scale, you're right, it's cost. But the key word you've got to have average cost in there. Okay? Just be very careful with economies of scale is about average cost. It's about sort of the average unit cost. So your best definition for something like that would be so this economies of scale is where the business is growing and has got so large. That average costs have started to increase. Okay. So the business growing has got so large, the average costs have starting to increase. Can you think of a practical example of that? Can you think of an this isn't in the question, by the way, your two Marks would be got just from the orange, but just so I sort of know that you understand it. Can you think of a practical example of something where that might happen, where you're growing and your average costs have got bigger? Where would you experience this economy ies of scale? Can you think of an example. No, I can't really think of an example. Okay, so to give you one that sort of might kind of ring with you, imagine you're in your classroom. I don't know how many people are in your class. Let's just pretend there's 20, say there's 20 seats, okay? If there's 18 of you already in the class, another person comes, the average cost goes down. Then another person comes, the average cost goes down. You're now at peak you know you're at economies of scale. You're at peak economies of scale. 20 people. You're using the full sort of allocation of resources. You get one more person. You need to hire an extra teacher, you need an extra classroom. All your costs have suddenly gone up. You need to split the class. Okay? So you've grown so big that you need another premises or another room, and that's taken your average costs up. It's the idea you've grown so big, you've got additional costs that have come into play. Okay? So economies of scale, your average costs are decreasing as you grow this economy ies scale exactly like you said, the end of the graph. This is where you've got so large that the average costs have started to increase again. Again, the key point with this is you're right with costs. Just make sure you've got the average word in there. Okay? Perfect. Good. Good. Okay. One b, identify two ways of business can used cost data to help make decisions. Cost status. I don't know what that is. It's just cost data is just about information costs. But it's to be honest, it's a very Cambridge exam term. It's just about how much stuff costs nothing very complex. So what how would a business use the information about how expensive things are, how much things cost to make things, to make decisions? To adjust the price exactly right to set prices to adjust prices excellent. So set stroke adjust prices. Nice and way too. And the amount of body. Gone, sorry. No, I'm just trying to phrase it. Okay, the amount of it divide time. So how much stock to purchase? Yeah. Yeah how much stock to purchase? Yeah. Very, very good. They might look at it or where to buy stock from. I'll give you some other ideas. You know I've worked from or you could have said if to actually continue making a product, Yeah could be another one. But yours were good yeperfect nothing to to worry in there. So cost data, just information about the costs of things. Okay. Identify four fixed costs of businesses might business might have. So you've got fixed costs and variable costs. What's the difference? Tell me fixed cost is what you regularly pay and variable costs could be something. Go on. Could be something. What. Such as a loan, you don't do it every year, but sometimes you just have it sort of sort of I'm going to give you the sort of correct definition for fixed and variable costs. So just not that it matters here because you've not got to give a definition, but just so you sort of if you did have to make a definition or you did have to understand it, so fixed costs are costs. Or costs which do not change. With output okay and variable cost. Change with output. Okay, so there your they're your sort of technical definitions. So regardless if I always give the example because I like pizza and pizza shop, if I was running a pizza shop now, my fixed costs would be the same. Regardless if I sell one pizza that day or 100 pizzas that day, my variable costs would be the ones that would change whether I sold one pizza or 100 pizza. So I will give you some of the variable costs in my pizza shop because that isn't this question. And then you can try and do some fixed costs. Generally they don't have to be related to the pizza costs. So variable costs in the pizza shop would be cheese, pizza boxes, tomatoes, you know things that actually vary according to how many pizzas I sell. Now can you think of fixed cost? Doesn't have it's not obviously related to pizzas but I'll was just given the example. So can you think of four fixed costs rent? Oh, brilliant. And you pick the most obvious the the first one you should always pick very good. Yes, that's exactly right. Salaries for employees. Yes, yes, I'll come I'll come back to that. We just you're right, we're full time employees and Yeah, Yeah, Yeah, Yeah, Yeah very good very good because actually it can salaries is a bit of a wages can dip into beable costs for Excellent Excellent you understand that what other ones can you think of? Utility PaaS? Yes, I would go with something like sort of rates utilities electricity a little bit because obviously the more you cook but Yeah rates or bills maybe Yeah rates I would go rates sort of that you know like taxes on the building Yeah Yeah rather than electricity. Go on. Can you think of another one. No, that's all good. Okay? You could have insurance or. Advertising trying think Wales advertising insurance market get research. Yes. Yeah, Yeah Yeah because that doesn't matter does it? However much you've you've done, it doesn't matter how many you're selling. Yep, good. But well, well done. I'm impressed with the order. You pick them out always. If you were only asked for two there you're there. You're most obvious too. So good. Well done on pulling out that one first because what I like to do as well is tell people the ones the most, you know, because sometimes people in exams try and pick sort of slightly wacky, slightly weird answers and like try and be a bit different and it's like, no, just do the obvious one that's going to be on the marschewe're. Not it's not it's not about it's about getting the Marks, you know? So well done yet. Good. Okay, explain one advantage and one disadvantage to fbm of holding a high level of inventory. Okay. Remember, fbm was the business we saw at the top. So what's this question actually asking? Like just one advantage and one disadvantage for high inventory, and it needs to be related to to fbm. Okay. So I would at this point where it's asked you of fbm holding, you do not want to be writing a general answer about a business holding a high level of inventory. You want to be using things that are in the fbm like case study. So if we go back to it, I would be saying to you things like, what do they, what do they build boats? I would be using the word boats. I would be trying to put in some numbers. I would be I would be using the name fbm. Okay. Oh Yeah. It's a boat building business. You want to be making sure with these longer ones where it specifically says. Where is it? It's not just tell me one advantage and one disadvantage about inventory. It's about specifically to fbm holding a high level of inventory. Can you see the sort of site difference there? Yeah. Okay. So what's your thoughts? By the way, you can move it. You can move it up and down you Yeah sorry, ga. Sudden high demand could. Could be resolved due to having extra materials in stock. Okay. So they could they so they are so your advantage could be able to respond to a sudden high demand? Good. Tell me now make sure you include something about fbm in this explanation. As it makes wood. I don't think this might need just specific information about it. It does. Two of your six Marks will be using information from the case study. If you don't use information from the case study, you will only ever get four Marks. So for example, shall I give you an example? And then you can sort of see so able to respond. So what was it called fbm? Builds. Now what I always tell my students to do is what you've got to remember you can do it in two ways, right? Is examiners mark quickly? Okay, examiners mark very, very quickly. They want to see that you have hit the criteria. If you I was marking this as an examiner, I would check you had this right. Boom, Yeah, you've got your point. Now, have you given me an explanation and have you linked it back to the case study? If I can see very quickly that you've linked it back to the case study, I'm instantly given you those Marks very quickly. So I tell my students to either quote the things from the case study or underline it. Really make it obvious for that examiner. Look, I've done exactly what I need. Look, I've linked it to fbm. It wants me to link it to fbm. Here it is. Just give me the three Marks for each section and let's all move on. Give me the top Marks and let's go you know very quick. Make it very easy to mark. Always make your stuff easy to mark for somebody to give you the Marks. Yeah so I would put fbm builds boats if there was a sudden increase in orders. They would have the available parts for a boat Yeah underlying it. So I am. To be able to we the order meaning day can increase the sales and I don't know, keep a good reputation. Okay, summing along those lines, okay, easily got more than your Marks. You've done more than you need to do there, but you need to be putting in things now. Like I said to you, the other actually let me look at the numbers. There was another number I would always try and put numbers in. They made 300 boats a year. So you could have even thrown that in. So I could have put favorite parts for both to be able to create order their sales. I could have put here. Okay. Above the 300 and then I could have underlined it. And Yeah. So can you see you haven't the question isn't tell me everything you know about problems of heart holding a high level of inventory. The question is very specifically linked to this company, what would be a bad thing and what would be a good thing of this company holding the high level of inventory if you just write inventory is good because blah, blah, blah, an inventory is bad is because blah, blah. Blah, and it could go on any case study, you will not get the full Marks. Okay. So do the disadvantage now. So do that. What was bad about fbm holding a high level of inventory? It's bad about having having lots of stock. In the company's case, I can't think of any yes, but the stock might get outdated. Yeah okay. These are your. Okay there your two most obvious ones. Okay, if I was to say give me, give me one example of what's a bad thing, I would choose one of them. Either of them you could go with, I would tend to go with the outdated one where it's a technology one or it's a perishable good. If it was me writing this question, I would go with that one. Not to say that the other question, the other the outdated couldn't be used, but I think the cost of storage would be an easier answer in this situation. But you can do outdated if you want up to you. So let's look at whatever it's called. If the demand is less than. The demand is less than 300. The materials purchased might not producenough votes to profit from to cover the fixed costs and variable costs. Nice. Yeah, very good. Very good. Yep. Notice you just threw the word Boin. You used a number. It can't be you know, you've clearly used the case study and you've answered it. That's the it sounds really silly, but it's those tiny little tweaks that get you the extra Marks. Okay, right. Good. Do you think customers have a more important role in the success of a business than its employees? Justify your answer. How many Marks six? Now this isn't about effect, whatever it's called that business, is it? This is a general question. So it doesn't say about that. So we don't need to include the boat nonsense, all right? We just need to talk about stuff. What's your thoughts? I mean, Yeah, you need to have customers to have a demand. But you still need employees to cover that demand. Yeah, good. So I would I would structure this into, if it was me, I would structure it in two paragraphs, right? I A paragraph one and paragraph two. So I would have, do you think customers have a more important role in the success of a business than its employees? So I would say, so customers, what we're going to say are vital. Why? As without customers. There is no business, is it no cash flow? Yeah, and it won't survive, will it? So right with that, there's no business, no cash flow and it will not survive. However. Customers are attracted. Why staff aren't they? What why do you think staff is important? Tell me about why staff would be important. So there would be, first of all, to produce the service or the what the items. What stuff behavior? Might be able if the stubehavior will could increase or could encourage or discourage customer loyalty. Yeah, nice because of what? Keep going. Keep going. Keep at it. Keep going. This is nice. What what would happen? So discourage customer loyalty leading to what. Leading to more customers and. Yeah what just interest, out of interest what your teacher told you to do for your linking words? Because I've got certain linking words that I make students kind of use in their essays. Any question I make them use the same linking words. Have they given has the your ticause. I don't want to go against it. I want to kind of support it. They did not give me any exam techniques yet. Okay. So when when I'm getting the students to do this, I kind of say they they make their, they say something, right? Whatever that something is, it doesn't really matter, right? Well, it does matter, but you know what I mean? They say something. Okay, just so you know, like this is your analysis. This is your analysis. This is your getting your analysis Marks. You're extending you're extending your answer. This is your evaluation Marks. Okay, these are how you get evaluation Marks. And this this is sort of a way I always say that they should use. Now different teachers tell you different linked words. It doesn't matter. Is just something that works for you that encourages you to lengthen your answer. Okay, continue, continue. So this means that leading to resulting in so if we go back to that question, do you think customers have a more important role in success than its employees? I could say. What could I do? I could do well. Give, give me a point. What point could you make in this, this essay? What do you mean it what answer could you possibly give? Or could you think of another one or anything we could give in this essay? And then I'll just give you an example of how so do you think customers have a more important role in the success than employees? Customers can self advertise for the business. Okay. So the rocake. So customers are vital as they are able to they are able to self promote the business. This means that they could, this means that they could go on social media or other such sites and leave positive reviews, leading to an increase in market share as more customers come see the reviews and come to the business, resulting in higher revenue for the business and a more successful. You know outcome. And then I could say, however, this depends upon the type of business and whether it is one that is severely impacted by customer reviews. Yeah can you see how what that this means that leading to resulting in however, this depends on is it makes you lengthen your point? And that's your analysis and that's your evaluation. So just like I say, they're the one with my students. I make them use these unless they come up with something that is is you know that works for them, but it has to be something. And the reason I make them do three points is usually in gcse you are marked in three es. Okay. So you are marked in like it's three marked in this, it's two, three Marks. You get effectively, okay. But what I say is we get one mark for answering the question, and then you get normally two Marks for analysis. But I make them do three Marks, three points for analysis in this, because then if one of them 's weak or a bit rubbish, or they get it slightly wrong, you've still got the other two to fall back on. So it's always best if you need to get three points, you know your answer from two points, you want to do your answer from three points because then if one's very similar or it's a bit, then you get your mark from somewhere else because these are positively marked, okay. If you, if you go one, that's a bit, they don't go all that whole things g's terrible. They look for the positive Marks. Okay? So it's a really, it's a really good way to kind of extend your answers. So this means that leading to resulting in and if you get that in your head and use it, it really does help with your exams, okay? And then this is your evaluation. So that's something and if we sort of Carry if we as we go through, if we Carry on, I will say that to you, this means that and then you'll tell me, leading to resulting it and it just becomes kind of second nature, okay? And it just extends your answers. Okay, right. We've moved on. Adn is a food retailer. It has five shops and 300 full time employees. All adn employees receive off the job training. We can already predict what the questions are gonna to be by the case study. Look, adn has a tall hierarchical structure. Managers have a narrow span of control and use ser autocratic leadership style. Adn directs a plan to expand the business and cannot decide whether it's better for the business to use internal growth or external growth. And I can already predict without looking at them, exam paper exactly what questions are. It is because you already know, right? Define span of control. Do you know what span of control is? It's okay. If not, do you have any idea? Yeah the the direct amount of subordinates someone controls. Very nice. Yeah Yeah very good. How many people and you can have a wide or a narrow span of control. Nice. Define autocratic leadership style. Can you remember the different leadership styles? It doesn't matter if not means that there's like. No actual manager? No, it's the other one. It's, you will do what I say. You will do it. You will clear it up. It's all my way. I don't care what you think. Yeah, it's that one. Can you reup? So trying to find that one without saying it. One outside of Yep who it's it's it's just bear in mind it's two mark so just expand it slightly. Who what do they listen to? Others opinions? Do they do their control over the business? Yeah complete control. They don't listen to others that that you know it's the exact opposite of Democratic. So Democratic is like voting. You know they want to take into account of everyone else autocratic as I will. You will do what I say and you will you know this. I want this done here then and then and I'm not listening so much for the feedback. Yeah, okay, two benefits. What are we noticing about this question? What we're noticing about the words of the question what is in there so what you know you have to include the some parts of the adn exactly. Exactly so you're going to get one mark on each of that so the is it worth four Marks? Hang on I say is it worth have I lost you? Come on. Sorry I'll just Press some on my laptop. Yeah four Marks. Yeah. Okay. So you're gonna get two Marks, one for a benefit and one for a benefit, and then you're gonna get two Marks, one for linking to the case study and one for linking to the case study. All so have a little look at adn. Two benefits to adn of having full time employees. Should we go up and see the case study again? Adn Yeah, what's good for adand f, having full time employees always throw in numbers. Remember I said can't not have used the case study. If you throw in numbers. And they're very quick to throw in as well. Quick, you know, because you time is really fast in this exam as well. You want to be doing the questions quickly and easily. Full time employees are therefore the. Wait, there's six c for each shop. So so if there's a sudden high demand, 60 employees, es will always be there to handle it. Yep, good. Good. Think about customer service. What's good for another one? Think about customer service. What's good about having full time employees? Is it nice for customers to have the same. Sort of stop. Good. Give me that one. Tell me that as an example and link it to this. What is it, food retailer? A full time, full time employees could be at the, could regularly be at the shop and give service to all customers, give traservice to all customers. Yeah I would just argue there. Do you know what? If I was marking that as a marker, you would be boa line whether you were getting one or two because I know you said the word shop and I know but I would make sure I would have got food in there to make sure you definitely got that other mark. Do you see what I mean? That if that was be a mark, that would really depend on the marker whether you got that extra application mark, make it so it's kind of the examiner can't give not give you that mark. So you've wanted to say in either in one of their five in all of their five shops or in their food shops really make it specific to that case study. Okay, just to make it. But Yeah, it was good apart from that. But I know that this is sort of a new sort of thing to you, so it's just I'd rather be, if I'm picky now, you'll do it naturally every time going forward, and it's just far easier you wanna be learning it now so that when you come to your exam, that's all second nature. Okay, good, good, good, good. Explain one benefit and one limitation of aid again, adn using off the job training. Okay. Is this a six marker now? Are we on the six marker? Yeah. One benefit and one limitation of adn using off the job training. Sorry, do you know what on and off the job training is? Can you remember? Yeah one is hands on training with a experienced employee for many and the other one is a specialized. Training that takes drug time but is supposed to be outside workspace aces or non job perfect? Yeah, Yeah Yeah your your knowledge is is good, excellent. Okay. So what could be a good or bad thing for adn of off the job training? That's it. That a specialized trainer would give better advice. To the employee no, not to the employee. To what use a number. Link it to the question. Link it to link it to the case. Statplease, perfect. See, the very slight difference is, I know this sounds silly, but it really is the difference between, you know okay, and what does that mean? Leading to. Leading to better customer service and improved job efficiency. Perfect. Lovely. Absolutely spot on. Okay, that's that's your three Marks. Very nice. So now now a disadvantage, what would be a disadvantage of using of the job training? It would take job time, which means means higher demands may not be fulfilled if many of the parts of the 300 employees would be at training and the training fees would also have to be covered. Good, good. I would link it slightly more to to them. I would try not to just just where you've in the same question, try not choose the same application twice because again, depending on the marker will depend on whether youget it twice. So you've used 300 in your first question. You don't really want to be relying on 300 only in your second question. So you could have said something like when you said take away from the shops, meaning the the food you know from the food retailer shops. I would have added in there just a little tweak, but Yeah good. Just watch the duplication of the application with the I'll across different questions. Yes, within the same question. Just be careful. Ding, ding, ding. Off the job, right? Good. Do you think Oh, here we go. Do you think it's better for a business to use internal growth. Or external growth when planning to expand, justify your answer. Now this is just general, not about our little case study. So what do you think internal growth, external growth when planning to expand? What it was again? Okay, internal growth is stuff that comes from inside the business. So it's things like creating a new product, designing something, increasing advertising, expanding to a new premises, those sort of things. External growth is something outside of business. So this is your mergers and your takeovers. Do you know what I'm certain? I mean, when I say mergers and takeovers, yes. So that's external growth. That's where you grow, where you kind of merge with another business or take over another business. Okay. Okay. So what's your thoughts? What's good or bad about internal or external growth? Internal growth as the. As we definite chance for you, not I to replace it. No, it's okay. No, no. Just to think it's fine. It's fine. It's hard sometimes when you're speaking it because you speak quite, you know everyone speaks fast. You don't sort of think about it. Yeah, I know just right. You will have full control over the business after internal growth where external growth such as merges might result in a split of. Yeah you're right. Of management or something. Yeah management stuff. The only Yeah good. The only thing I'm gonna do is I'm gonna stop you, right? Because what you're doing is you're doing the classic that everyone does. You've set a good point but you didn't expand it. Okay, so let's do because I think your second point was actually stronger. So let's do. External growth is negative. It can be negative because. It's the word you're looking for, culture clash. Have you heard of that? Whether the culture you know you kind of have to share is that you would share ownership. Yep, good. So you have to share ownership. This means that, well, what does this mean? This means that there will be more disputes employees will need to suit the new culture, which might result in a high deficiency boom. Can you see how just by using the linked things, you expand your answer really well and you add it to different links of business? Yeah, excellent. Excellent. Now choose something else to talk about, internal or external, what's good or bad about it? External growth, such as. Wait, what's is one what's is the other external growth method? Again, mergers or takeovers are your external growth ones. Takeovers usually need, usually costs more than than mergers or internal growth. And to remain full control with the management, this means that think about talk about the cost. This means that the business might not have enough capital to afford it. They might have to sell important assets in it. Resulting in. Taking on high debt. Yeah, taking on high debt that might be accelerating bankruptcy. Very good. Increasing costs, possibly accelerating bankruptcy. Okay. Overall, what's your thoughts? Which is better, internal or external? Let's do an we haven't done any internal growth. Ths not that you would necessarily need to add more, but let's just because I have to say internal and external growth is a common, common question. Yeah, theyalways, I would say nearly every year ask you something about internal external growth. So kind of us doing a bit more than this question asks isn't a bad thing. Okay. So internal growth, what can you give me either a pro or con about internal growth? What's your thoughts? Most of the time, business won't have enough money, so it has to take some sort of debt, such as loans or sale of its own assets to make up for the money. This might result in a disrupted cash flow. Nice. Nice. Yeah, very good, very good. Obstrucfurther expansions, yeexpansion or further investment yefurther research. We ought a nice one to throw in further investment in research and development. That's always nice R&D because you can write it as R&D. Very quick to write. Okay, very good internal growth. Talk to me about control. You keep total control with internal growth. Let's expand that one. What's good about internal growth with in regards to control? This all comes from within the business decision making is still concentrated within the original original format. The business culture does not change and thus won't affect productivity. Talk to me possibly about staff retention. If the business culture doesn't change, etcetera, staff and employees are more likely to stay in a business that has expanded when its culture has not been affected. Lovely. These are really good answers. Yeah, really solid answers. Are you sort of feeling like they're good, aunt? Are you happy with like Yeah you sort of comfort happy with something most of that? Good, good, good, good. Oh, I was going to say something. What's going to say? Culture? Yeah. Always think there's sort of things I would always come back to. Always think staff retention. Always think research and development culture, lovely love culture. You know, throwing that in very good internal growth. Basically the big difference between them, internal growth is less disruptive, is cheaper and you regain full control and less risky. External growth more expensive, problems with culture, it's quicker, it's more risky. The big advantage of external growth sometimes for people is they take out a competitor. Sometimes if you're merging or you take over, you would take out a competitor with you. So like that's a big advantage to external growth. All of this though depends upon the type of market it's operating, the business is operating on, which which which growth method is best. So this depends upon which type of business sorry, which type of market the business is operating in and the amount of competitors and the loyalty of the customers to certain brands or businesses. Okay, good, good, good. But I would I would bet a lot of money whatever year you do it, you're gonna na get internal and external growth or 11 or other anyway, Hoke idt managed manufacturers closed for the MaaS market. It's a multinational company with factories in four countries. Idt has short term and long term financial needs. The fd is analyzing idt statements, financial position. An extract is shown as table three. One, he's been asked to calculate working capital and explain how to increase its non current liability. Sorry, explain how an increase in non current liabilities might affect idt. Oh, this sounds this sounds like a fun little section, doesn't it? Right? So first of all, we don't need to worry about any of the stuff above. So define the term MaaS market. What is MaaS market? Let's say market targeting most of the population. Yeah target that goes for the product or service that goes for the majority of consumers is the opposite to a niche market, isn't it? You can always throw that in there. Very, very good. Nice. If I say that, it's also correct. Yeah Yeah I wouldn't just say it as your only answer. I would add it as an extension of my knowledge. Do you see what I mean? I wouldn't put the opposite of a niche market. I would just put it on as as a sort of extra bit at the end. Once you've done you little definition, it just shows again your knowledge. But it just saying Oh it's the opposite of this doesn't do it. Calculate idt's working capital in 2023Oh, 2023 sorry, am I moving? Am I moving it about? So working capital current assets minus current liabilities. 114. That's it. 140000000. That's all it wants you to do. Good, good, good. If you don't remember formulas, this hasn't got formulas on the front, has it? Now if you don't remember formulas, if you forget formulas in gcse, just do something with two of the numbers. Yeah and just come up with build. Get you half mind for that. Yeah, Yeah, Yeah Yeah. Just guess. If if you a level slidifferent gcse, it's normally pretty straightforward. They're only going to give you two or three numbers. You either have to take them away from each other or divide them, like that's basically it, or itgive you a clue. And I'll have a little percentage sign. And you know you've got to get a percentage for whatever formula it is. So if you don't remember, don't freak. Just kind of do something with two numbers and hope for the best year. The other thing you can do is do various things with two numbers, draw a line and don't cross through anything. Again, likely to get Marks. Okay, right. What do we got? Outline one reason why idt might need the following types of finance, long term and short term. Again, very linked back to this company. So are we on a four mark or are we on a six mark at this point? Four mark, notice they just repeat these questions. So we're gonna to need an answer and then we're gonna to need it. How it links to idt for both of these things. Short term answer linked to idt long term answer linked to idt. So short term finance, long term finance, do you know the difference? What is it joterm finances when you have to pay back the loan right, in a automamount of time? Yes. Yes, that yes. So it tends to be financed for a very short period of time. What does it tend to be for things like. Long steps, just watch the word loan. It's finance. So it's it's it's not short term finance tends to not be loans. Long term finance tends to be loans, but it's borrowing that funds short term things. So for example, working capital, it might fund, it might be you know what a credit card is. It might be purchasing on sort of something like a credit card. So it's more day to day expenses or working capital. So just watch the word alone because that tends to be more long term finance. That tends to be more for capital investment or big longer term product products projects. Sorry. So for longer term projects, it tends to be more loan. It tends to have more structured repayment. Okay. So just so they're the different types. What so why would they need the different types? We need to go back and have a look because I can't remember a thing about the businesses. Well, I remember is the man banging. There's lot of figures in there, wasn't I? Okay. They would be the quotes I would be using. So tell me, why might they need either short or long term finance? Finances could be overdrapped for the. For the materials. Link it. Link it more. You're exactly right. Link it more more obviously you're exactly right. Link it with the bank ancouver drops or the payment of materials which they can pay back e after the sale of them. Okay. The materials for what? The clothes? ID, Yeah, exactly. Perfect. Good, nice. And now do me a long term one. The obvious would be an extra factory. Have a thank. Yep, keep going. They thankwhom that they would pay back monthly for a expansion of a new factory in another country. Yep. Increasing that then from four to five. Make sure you link very specifically. Good. Excellent. Excellent. Right. Has that. I don't know if that was what you wanted to do. I mean, that's that's kind of I just did with you what I tend to do with year eleven s that I pick up that are very close to their exams. I find it's the best thing. Then if you find something that's actually problematic, you can go on it a bit deeper, but it's how to cover things very, very quickly in a really focused way. Because ultimately, at this point now I'm not about like making you enjoy business or making you, I don't know, have a really deep understanding of it. My you know you need to PaaS this exam with the highest Marks possible. Like it's not that that's what it is at the end of the day, as bad as that sounds, we're at the end of January. You've got these exams in may. It's not it's not anything else about it's just about passing exam and the only way to do that is focus on the exams. So that's that was that. But anyway, that's I hope you found that helpful if you've got any questions or anything you can ask me but Yeah nice to meet you. Thank you for today. Do Yeah okay then no worries take care. See you later. Bye bye bye.