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OCR Business > All Equations > Flashcards

All Equations Flashcards

1
Q

total costs

A

fixed costs + variable costs

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2
Q

unit cost

A

total cost/output

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3
Q

average cost

A

(fixed costs + variable costs)/output

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4
Q

average revenue

A

total revenue/number of sales

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5
Q

contribution per unit

A

price - variable costs

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6
Q

profit

A

total contribution - fixed costs

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7
Q

break even

A

fixed costs / contribution per unit

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8
Q

margin of safety

A

Actual level of output - breakeven level of output

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9
Q

payback

A

amount owed/net cash flow for following year

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10
Q

ARR

A

/

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11
Q

gross profit

A

sales revenue - cost of sales

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12
Q

operating profit

A

gross profit - expenses

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13
Q

profit before tax

A

operating profit - finance costs

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14
Q

profit for the year

A

net profit - tax and dividends

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15
Q

cost of sales

A

opening inventory + purchases in this year - closing inventory

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16
Q

straight line depreciation

A

initial cost - (residual value)/life of asset)

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17
Q

current ratio

A

current assets/current liabilities

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18
Q

acid test ratio

A

(current assets - inventory (stock))/current liabilities

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19
Q

gearing

A

non current liabilities/capital employed x 100

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20
Q

debt to equity ratio

A

debt/equity x 100

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21
Q

interest cover

A

operating profit/interest payable

22
Q

non-current asset turnover

A

revenue/non current assets

23
Q

stock (inventory) turnover

A

cost of stock/average stock

24
Q

debtor days (trade receivables)

A

trade receivables/revenue x 365

25
Q

creditor days (trade payables)

A

trade payables/purchases x 365

26
Q

gross profit margin

A

gross profit/sales x 100

27
Q

net profit margin

A

net profit/sales x 100

28
Q

ROCE (return on capital employed)

A

profit/capital employed x 100

29
Q

ROE (return on equity)

A

profit for the year/shareholders equity

30
Q

dividend per share

A

total dividends paid/number of shares issued

31
Q

dividend yield

A

dividend per share/market price of share x 100

32
Q

earnings per share

A

profit for the year/number of shares issued

33
Q

price earnings ratio

A

market price of share/earnings per share

34
Q

labour turnover

A

no. of employees leaving during the year/average number employed during year x 100

35
Q

absenteeism

A

total days absent in month/total available working in month x 100

36
Q

lateness

A

(total number of late arrivals x 100)/total number of scheduled arrivals

37
Q

productivity

A

output (week/month/year)/average number of employees

38
Q

Vrooms expectancy theory

A

force = (valance x expectancy)

39
Q

standard deviation

A

/

40
Q

market share

A

sales value or volume for the individual business/shares value or volume for whole market

41
Q

market growth

A

change in total sales by value of volume/original sales value or volume x 100

42
Q

price elasticity of demand

A

percentage change in demand/percentage change in price

43
Q

income elasticity of demand

A

percentage change in demand/percentage change in income

44
Q

cross elasticity of demand

A

percentage change in the demand for A/percentage change in the price of B

45
Q

advertising elasticity of demand

A

percentage Change in demand/percentage change in advertising spending

46
Q

adding value

A

selling price - CPU (contribution per unit)

47
Q

PERT (Programme Evaluation Review Technique)

A

(optimistic time +4) x likely time + (pessimistic time/6)

48
Q

productivity

A

number of goods produced/average number of employees

49
Q

capacity utilisation

A

actual or current level of output/max possible output x 100

50
Q

average stock level

A

(max stock level + min stock level)/2

51
Q

wastage/reject rates

A

number of rejects produced/total number of products produced x 100

52
Q

percentage change

A

(change/original) x 100

OCR Business (72 decks)

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