Summary of booklets given Flashcards
What are the four Ps
Product price, place promotion
What is an Cash flow statement?
A fi nancial report that summarises cash transactions – involving cash fl owing into and out of the business – that have occurred over a period of time.
What is an income statement
A summary of all revenues generated and expenses incurred by a business over a specific period of time, such as a financial year.
What is a balance sheet?
A summary statement of the assets a business owns, the liabilities the business owes and the equity the owners have invested in the business.
How do you calculate Gross profit
Gross profit = sales revenue – cost of goods sold
How do you calculate gross profit?
Net profit = gross profit – expenses
How do you work out assets?
Assets = liabilities + owner’s equity
What is the human resource cycle?
Recruitment, training, maintaining (rewarding) and separation of employees.
What type of employment contracts
Casual
part time
full time
subcontracting
