5877111
Description
Mind Map by Lester Stoffels, updated more than 1 year ago
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Created by Lester Stoffels
almost 8 years ago
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Financial Plan
- Profit and Loss
- Types of costs
- Cost of sales refers to cost incurred
in bringing goods to point of sale
- Cost of sales refers to cost incurred
in bringing goods to point of sale
- Work out your different costs
- Shows all income earned and all costs incurred
- If income is greater than cost incurred then = profit
- If Costs exceed income = loss
- New business - projected statement of profit & loss
- Types of costs
- Cash Flow Statements
- Indicates financial position by
describing profit/loss of business
- It shows all the money that is
coming in and being paid out
- Difference between
opening & closing balances
- Helps identify operational problems
and if finance is needed
- Indicates financial position by
describing profit/loss of business
- Break-even Analysis
- Point at which sales are equal
to costs at a particular price
- Determine the amount of sales
required to keep business going
- Shows investors how
profitable a business might be
- Depends on costs
and profit estimates
- Point at which sales are equal
to costs at a particular price
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