9031890
Description
Mind Map by Milagros Badillo Palomino, updated more than 1 year ago
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Created by Milagros Badillo Palomino
almost 7 years ago
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COSTS, REVENUES AND PROFITS
- COSTS
- Total expediture incurred by a business
- Necessary to meet the operations of the business
- Necessary to meet the operations of the business
- TYPES
- CHANGE
- Fixed
- Variable
- Semivariable
- Fixed
- ALLOCATION
- Direct
- Indirect
- Direct
- CHANGE
- Total expediture incurred by a business
- REVENUES
- Money received by a business as a result of trading operations
- Formmula: Total Revenues= Unitary Price X Quantity Sold
- Formmula: Total Revenues= Unitary Price X Quantity Sold
- Money received by a business as a result of trading operations
- PROFITS
- Formula: Total Revenues - Total Costs
- Indicator of business success
- If possitive, indicates good state
- If negative, indicates a bad state
- If possitive, indicates good state
- Formula: Total Revenues - Total Costs
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