Finance and Accounts 1

Finance and Accounts 1 - Mind Map

Mind Maps have been produced to introduce topics and give students an overview of key topics being studied. The maps can be viewed as a whole page or, for those who prefer a more linear approach, as a text version.

Purpose of Accounts
- Provide Information
- Monitor Activities
- Transparency
- Reduce chance of fraud
Break Even
- TC = TR
Profit and Loss Account - Flow
- Gross Profit
- Net (operating profit)
- Profit after Tax
- Dividend
- Retained Profit
Balance Sheet - Snapshot
- Source of Funds
  - Liabilities
  - Loans
  - Shares
- Use of Funds
  - Fixed Assets
  - Current Assets
Key Terms
- Costs
  - Fixed (Indirect/Overheads)
  - Variable (Direct)
  - Semi-fixed
- Revenue
  - Price
  - Quantity
Profit/Loss

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