Creado por ethan strange
hace casi 5 años
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Pregunta | Respuesta |
Definition of Money?(Purpose) | 1)Divisible 2)Portable 3)Durable 4)Scarce 5)Recognizable |
What are the functions of money? | 1)Unit of Accountant 2)Means of exchange 3)Store of value 4)Legal Tender |
What Factors affect spending? | 1)Personal Attitude 2)Life Stages 3)Culture 4)Life events 5)External influence 6)Interest Rates |
What does IVA stand for? | Individual Voluntary Arrangement |
When Are IVAS best use ? | When you have Assets you don't want to loose. However if you don't have Assets just Declare Bankruptcy . |
What types of Current Accounts Are there? | 1)Standard 2)Packaged Premium 3)Basic 4)Student |
5 Forms of Borrowing? | 1)Over Draft 2)Credit Card 3)Mortgage 4)Loan 5)Family members |
What does APR mean? | Annual Percentage Rate (Loan + APR + Set up Fees) |
5 Types of Saving Accounts? | 1)Saving loose change 2)Bank Account (Current) 3)Saving Accounts(No Fixed term) 4)Saving account (Fixed term) 5)ISA(Cash) |
The Three types of Car Insurance? | Third Party Third party, Fire and Theft Fully Comprehensive |
What is the difference between Compulsory and Voluntary Excess? | Compulsory- How Much you must pay to make the claim Voluntary- Is Determined by you and how much your willing to pay? |
Financial Institutions? | Bank Of England Building Society A Bank |
Places to get money Advice ? | Citizens Advice Independent Financial Adviser (IFA) Money Advice Service Debt Counselors |
5 Inflows | 1)Sales Cash 2)Sales Credit 3)Loans 4)Bank Interest Received 5)Capital introduced |
5 Outflows | 1)Stock 2)Asset Purchase 3)Credit Purchase 4)Salaries 5)Utilities |
Key Terms (Find Definitions) | Opening Balance Closing Balance Credit period Liquidity Insolvent |
Types of Income? | Capital Income Loans Mortgages Shares Owners Capital Debentures |
What is the purpose of business accounting? | Measures performance Compliance Record Transactions Control Management of business Compliance |
Profit Calculations? | Profit = Revenue - Cost |
Gross Profit Calculations? | Gross Profit = Sales Revenue - Cost Of Sales |
Net Profit Calculation? | Net Profit = Gross Profit - Operating Costs |
Capital Expenditure? | Is Used to buy Capital Items, which are assets that will stay in the business for a long period of time. |
What is a non-current asset ?(Tangible) | Items that will be owned in the business for a long period of time. |
what is an Intangible asset? | Something owned by the business that cant be touched(Patents,Trade Marks,Brand Names) |
Retained Profit? | Profit that's kept in the business |
Net Current Asset? | The Money Available to fund day to day expenditure |
Sales Of Assets? | Selling an item of worth to achieve an instant injection of cash flow |
Owners Capital | The money invested in the business from the owners personal Savings |
Venture Capital? | When an experienced entrepreneur Invests in A Business |
Types of Cost? | Variable Costs Semi-Variable Fixed Cost Total Costs |
What is break even point? | When your revenue Generated cover costs. |
Types of Revenue? | Total Revenue Total Sales Selling price Per Unit Sales in value Sales in Volume |
Contribution per-unit Calculation? | Contribution per-unit= selling price - Variable costs per Unit |
Total Contribution Calculation? | Total Contribution = sales Revenue - Total Variable Cost |
Break Even Calculation? | Break even = Fixed cost/ Contribution |
Total Variable cost? | Total Variable Cost= Variable cost per unit * quantity |
Margin Of safety Calculation? | Margin of Safety = Actual Sales - Break even Levels of Output |
Return on Capital Employed Calculation ? |
Image:
Roce1 (binary/octet-stream)
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Mark Up Calculation | |
Net Profit Margin Calculation | |
Gross Profit Margin Calculation | x100 |
Current Ratio Calculation | |
Liquid Capital Ratio Calculation | Current Assets - Inventory / Current Liability |
Inventory Turnover Calculation | (Average Inventory / Cost Of Sales) x 365 Average Inventory = Opening + Closing / 2 |
Trade Receivable Days Calculation | (Trade Receivable / Cost Of Sales) X 365 |
Trade Payable Days Calculation | (Trade Payable / Credit Purchases) X 365 |
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