Business Studies Definitions

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Flashcards on Business Studies Definitions , created by p3121 on 17/11/2015.
p3121
Flashcards by p3121, updated more than 1 year ago
p3121
Created by p3121 almost 9 years ago
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Question Answer
Liabilities Debts owed by the business
Current Assets Those assets owned by a business and used within a year
Gross Profit This is made when sales revenue is greater than the costs of goods sold
Non Current Assets Items owned by a business for more than one year
Current Liabilities Short-term debt owned by a business
Working Capital The finance needed by a business to pay its day-to-day cost
Net Profit The profit made by a business after all costs have been deduced from sales revenue
Depreciation The fall in value of a fixed asset over time
Trading account Shows how the gross profit of a business is calculated
Assets Those items of value that are owned by the business
Non current liabilities Long term debts owed by a business
Liquidity The ability of a business to pay back its short term debts
Capital employed The total value of capital used in the business. This is : shareholders' equity plus non-current liabilities
Illiquid This means that assets are not easily convertible into cash
Profit The total income of a business (sales revenue) minus total costs.
ROCE (Return of Capital employed) Earnings before interest and Tax / Capital employed
Gross profit margin Revenue - costs of goods sold / Revenue
Net profit margin Net profit / total revenue
Acid Test Current assets-Inventory / Current liabilities
Current Ratio Current assets / current liabilities
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