BTEC business studies lv2 finance

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  • BTEC business studies finance LV2
    • costs
      • indirect costs are costs that are not directly linked to a product
      • variable costs are costs that are related to the number of products made
        • hourly wages
      • start up costs are costs that are a one of and are paid when a business starts up
    • break even
      • break even is when a businesses costs and revenue cross over to make the business not have a profit or a loss
      • total revenue is all of the money coming into the business from selling services and products
      • total costs are all the costs that come out of the business
      • advantages
        • by using break even you can help spot potential problems
        • by using a break even graph it helps to be able to read break even clearly
    • cash flow
      • inflows into a business is the total amount of money that is flowing into the business
      • outflows out of a business is the total  money that is flowing out of the business

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