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1854424
Finance
Descrição
Mapa Mental sobre Finance, criado por Alice Rogers em 11-01-2015.
Sem etiquetas
gcse business studies unit 1
Mapa Mental por
Alice Rogers
, atualizado more than 1 year ago
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Criado por
Alice Rogers
mais de 9 anos atrás
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Resumo de Recurso
Finance
Business Costs
Revenue
the income earned by a business
mostly earned by selling their products to customers
sales x price = sales revenue
Direct Costs
expenses that can be attributed to making a particular product
e.g labour, raw materials
Indirect Costs
the general overheads of running the business
e.g. salaries, phone bills, rent
Fixed costs
do not vary with output (indirect)
they have to be paid no matter how much the firm produces
Variable Costs
will increase as the firm expands it's output
usually direct costs
Sources of Finance
Grants
new/small firms
e.g business in an area of high unemployment
given from government/charities
do not need to be paid back
Short Term
Trade Credit
the suppliers issue an invoice so they so not have to pay on delivery
Overdrafts
taking more money than the firm has out of the bank
high interest rates
Long Term
Loans
Bank Loans
quick and easy
repaid with interest
bank can repossess if not repaid
Friends and Family
useful alternative
Mortgages
interest is relatively low
risky for sole traders
Venture Capital
invested money by individuals or businesses that specialise in giving finance or expanding new firms
in return they then get a stake of the business
Help and Support
Government
they benefit as it reduces the state benefits the government has to pay out
they will also receive taxation revenue when the firm makes profit
funds business link - organisation that offers help and support
new firms can apply for a loans underwritten by the government so if they fail the government will pay back the loan
Private Firms
Banks
some businesses are set up to provide advice they usually charge but sometimes offer free advice to new firms
Charities
advice
grants
low interest loans
usually for young entrepreneurs
e.g. princes trust
Cash Flow
the flow of money going into and out of the business
Net Cash Flow
difference between cash inflow and cash outflow over a period of time
if you don't have enough money flowing i then you wont have enough money to pay bills
Forecasts
help firms anticipate problems
can forecast if they think the firm will face liquidity
they can predict when an ovrdraft may be needed and then plan how to pay it back
they need to be watched carefully so that they can monitor the effect of unexpected cash flows
Credit
the cash flow will change if they give their customers longer to pay
credit terms tell you how long after agreeing to buy the product the customer has to pay - this can effect the timings of the cash flow
Problems
poor cash flow
lack of working capital
not enough cash to cover day-to-day expenses
staff may not get paid on time
discounts may be offered to prompt payment
some creditors may not wait for payment and take legal action
reasons
poor sales
overtrading
Poor desicions
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