Edexcel Business Studies Unit 3 (incomplete)
- Created by: abc
- Created on: 09-05-13 18:43
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- Section 3 - Effective Financial Management
- Cash flow is inflows and outflows
- Inflows
- Money from customers
- Outflows
- Mortgage, wages, electricity etc
- How to improve cash flow
- Overdraft
- Better credit terms
- Quicker payment from customers
- Destocking
- Inflows
- How to improve profit
- Reduce costs
- Reduce workforce
- Cut wages
- Contract-out the work
- Increase revenue
- Raise prices
- Increase sales
- Introduce new products
- Reduce costs
- Break-even
- total costs = fixed costs + variable costs
- variable costs = variable cost per unit x no. of units sold
- Cash flow is inflows and outflows
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