Edexcel Business Studies Unit 3 (incomplete)

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  • 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
    • How to improve profit
      • Reduce costs
        • Reduce workforce
        • Cut wages
        • Contract-out the work
      • Increase revenue
        • Raise prices
        • Increase sales
        • Introduce new products
    • Break-even
      • total costs = fixed costs + variable costs
      • variable costs = variable cost per unit x no. of units sold

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