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cash flow

a prediction of the inflow and outflow of money in a business

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sole traders

a person who is the exclusive owner of a business entitled to keep all profits after tax and is liable for all losses

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partnerships

an assosiation of two or more persons engaged in a business enterprise in which the profits and losses are shared proportionally

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private limited company

offers limited liability or legal protection for its shareholders but that places certains restrictions on its ownership

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public limited company

liablity of each shareholder is limited to the amount of the capital agreed to be invested by him in it; liability does not extend to the members other assests

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business software

data base, spread sheets, internet. SYS needs good internet to be able to run properly due to it operating online.

excel, edexel. used to draw up budgets and cash flow forecasts, records of sales, present year-end accounts. helps collect customer feedback, orders new materials.

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business plan

detailed documents describing a business. contains info of marketing , finance, aims and objectives, location, types of finance. used to monitor on going performance

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resources

human resources, material resources, information resources and financial resources.

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costs

fixed costs, semi-variable costs and variable costs.

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revenue

price X quantity

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profit/loss

revenue - total cost

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contribution per unit

selling price punit - unit variable costs

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breakeven

fixed costs devided by selling price - variable cost

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net cash flow

cash inflow - cash outflow

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total costs

fixed costs + variable costs

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closing balance

net cash flow + opening balance

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budget

 a particular amount of money given to a certain department to spend.

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adverse and favourable

adverse- if you spend more than the budget

favourable- if you spend less than the budget

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monitoring budgets

the use of forecastd and actual budget data and the analysis of variences

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cash flow forecast

prediction of the inflow and out outflow of money in a business

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