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University of Waterloo
Accounting & Financial Management
AFM 131
Bob Sproule

ARBUS 101AFM 131FINAL SHORT ANSWERS REVIEW SOS SESSION TutorCoordinator Alexandra PazBarreirasPLEASE NOTE I HAVE NOT PROVIDED ANY NOTES ON MIKES BIKES Question Marks Subject Number 1 18 Marketing I BusinesstoBusiness Market Financing Obtaining ShortTerm Financing Accounting Analyzing Financial Statements Issues with Mikes Bikes 4 part 2 12 Role of Government Laws and Regulations 2 part 3 12 Human Resource Management Laws Affecting Human Resource Management Compensating Employees Scheduling Employees and Evaluating Employees 4 part 4 8 Operations Operations Management Planning1 part 5 82 Multiple choiceall chapters lectures articles and videos20 of the questions on knowledge 80 on understanding or application of learning outcomesFour from each of Globalization and Role of Government Teamwork and Mikes Bikes Six from each of Accounting Marketing I Marketing II Operations Finance Twelve from each of Ethics Leadership and Human Resource Management MARKETING IBUSINESSTOBUSINESS B2B MARKETbusinesstobusiness B2B market all individuals and organizations that want goods and services to use in producing other goods and services or to sell rent or supply goods to others items are often sold and resold several time before sold to final customer Number of customers in B2B market is relatively fewCompared to millions of individual consumersSize of business customers is relatively largeFew large organizations account for majority of employment and production of various goods and services Tend to be geographically concentratedMarketing efforts may be concentrated in a particular geographic areaDistribution problems can be minimized by locating warehouses near industrial centresBusiness buyers are generally thought to be more rational in their selection of goods and servicesUse specifications carefully weigh total product offer quality price and serviceSales tend to be directThere is much more emphasis on personal selling Consumer promotions are based more on advertising Fewer customers who demand more personal service and the quantities being purchased justify the expense of a sales forceFINANCEOBTAINING SHORTTERM FUNDINGcareful management of shortterm financial needs for daytoday operations of the businesssmall businesses need to stay afloat until they can build capitalcreditworthiness requires security for a loan trade credit TC practice of buying goods and services now and paying for them laterleast expensive most expensive most commonly used buyer can take discounts if it is paid off within a certain amount of time cut costs of interest
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