joes exam finance 4.5 / 5 based on 2 ratings ? BusinessfinanceBTEC NationalOCR Created by: KevinghasemiCreated on: 24-01-17 12:04 what is expenditure? all the businesses costs 1 of 30 what are over heads? everyday running costs. 2 of 30 what is the formual for total costs? fixed costs + variable costs = total costs 3 of 30 what is break even ? compares a firm total revenue with its total costs to indify the minimum sales level needed to make a profit. 4 of 30 what is the breakeven point? number of sales where toal revenue and total costs are the same number 5 of 30 name some problems of breakeven mistakes could be made with calcualtions, it is only prediction 6 of 30 cash inflow is.... the amount of money entering a businesses bank account. 7 of 30 cash out flow the amount of money leaving a businesses bank account. 8 of 30 net cash flow the differences between the cash inflow and outflow. 9 of 30 what is the formula for net cashflow? inflows-outflows 10 of 30 cash balance what a busienss has at start of a month. 11 of 30 cash flow forecast is.... prediction of the movement of cash into and out of a business over a period of time. 12 of 30 name some purposes of cashflow forecast to plan ahead for any potential problems and fix them. 13 of 30 what is a budget? amount of money a business owner has to start its business. 14 of 30 why do they set budgets? try to control their finances carefully and also help the business to achieve its aims and objectives. 15 of 30 name some benfits of budgatary control ? budget set for next period,clear targets to work towards,budgets can be monitored,help to reduce waste 16 of 30 what is variances? the difference between the actuall figure that happens and the budgeted figures. 17 of 30 what is variances anaylasis? investigating why variances have occured and anaylsing their impact on the business. 18 of 30 causes of variances? unxpected outflows,increased advertising,special offers,market trends,incorrect calculations, changes to taxations. 19 of 30 fixed assests items the business owns for more than a year 20 of 30 current assests items the business own for less than a year 21 of 30 current liabilities debts that will be repaid whitin a year 22 of 30 long term liabilities debts that the business has a long term to pay back 23 of 30 debtors customers who still owe the business money 24 of 30 creditors suppliers the buisness owns money to 25 of 30 work capital the cash business has available to run it self day to day. 26 of 30 share holders funds capital employed 27 of 30 retained profit profit carried over a form the previous year. 28 of 30 name some internal sources of finance sales of assests, retaind profit,owners capital 29 of 30 name some external sources of finance mortgage,overdraft,bank loans,government grant, trade credit. 30 of 30
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