COSTS, REVENUES AND PROFITS

Description

Mental map about costs, profits and revenues in a business
Milagros Badillo Palomino
Mind Map by Milagros Badillo Palomino, updated more than 1 year ago
Milagros Badillo Palomino
Created by Milagros Badillo Palomino about 7 years ago
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Resource summary

COSTS, REVENUES AND PROFITS
  1. COSTS
    1. Total expediture incurred by a business
      1. Necessary to meet the operations of the business
      2. TYPES
        1. CHANGE
          1. Fixed
            1. Variable
              1. Semivariable
              2. ALLOCATION
                1. Direct
                  1. Indirect
              3. REVENUES
                1. Money received by a business as a result of trading operations
                  1. Formmula: Total Revenues= Unitary Price X Quantity Sold
                2. PROFITS
                  1. Formula: Total Revenues - Total Costs
                    1. Indicator of business success
                      1. If possitive, indicates good state
                        1. If negative, indicates a bad state
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