Business BTEC Level 3 - unit 3 - business finance level 3 business BTEC - **not A Level** 0.0 / 5 ? Businesspurpose of accountingA2/A-levelEdexcel Created by: neve_xxCreated on: 23-11-23 14:39 Accounting involves recording financial transactions, and the use of these figures to produce financial information 1 of 9 Income the money coming into the business 2 of 9 Capital income the money put into the business by the owners/investors used to set up the business/buy equipment 3 of 9 Revenue income the money that comes into the business from performing its day to day function e.g. selling goods 4 of 9 Expenditure the money spent by the business 5 of 9 Capital expenditure it's used to buy capital items which are assets that will stay in a business for a long time 6 of 9 Non current assets Tangible items that will appear on the statement of financial position and include things like land, vehicles,etc 7 of 9 Intangible assets Cannot be touched but add value to the business e.g. goodwill, patents, etc 8 of 9 Revenue expenditure The spending of items on a day to day basis 9 of 9
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