Thank you for the thoroughness explaining Business studies. I like the first until explanations by Business activity . Because of the use of picture i memorized it easier by making it fun.
1.Profit is the revenue gained after business activity expenses,taxes and costs.It is important so the business can grow, hire more employees, buy new equipment, pay back debtors, loans or mortgage, reward shareholders, compensate owners and employees and impact stock price. 2.Cash and profit is not the same as cash is the money available currently and comes in via investors. 3.We can increase profit by lowering the operating cost, increasing the selling price of our product or service or by finding cheaper suppliers. 4.A business' financial statement and balance sheet are not the same thing. 5.A balance sheet reports assets ,liabilities and equity while an income statement reports revenues and expenses that net to a profit or lost. 6.Two main elements of an income statement are operating costs and net profit and two main elements of a balance sheet are assets and equities.
q&a q1) profit is the cash made by a business after all expenses have been paid. it is important for a business because without profit the business will become un able to expand and will also become vulnerable as they will not be able to pay the debts owned by them to the creditors or to the banks q2) NO q3) profit can be increased by a) reducing the cost of raw materials and components. b) increasing the selling price of a product. c) making sure that you are paid in cash instead of supplying credit q4) yes q5) no, income statement shows the revenue and costs of a business over a period of time however a balance sheet shows the assets and liabilities and equity held by a business at the current time. q6) balance sheet : assets liabilites income statement : revenue expenses
Q1) profit is the regained money u get in ur business in other words you can know what’s your profit when you minus ur sales revenue and and the costs Profit is really important for all businesses regarding if it’s private or public if you don’t make a profit in your business no shareholders will be interested to invest in your business and it will be hard to get a bank loan or an overdraft since it will be hard to pay them your debt back Q2) profit and cash aren’t the same you can’t star a business without a cash and you can’t survive without a profit when doing a business you need to hv the money for it and when investing with that cash you will be able to get your profit after paying all your expenses Q3) lncreasing the prices and discounts and finding cheaper suppliers
Q1- profit is the amount of money received by a firm that exceeds the value of a good or service that he/she has sold. Profits are important so that a firm can expand his/her business. Q2- no. Q3-increase product quality, increase labour productivity, advertising. Q4-yes Q5-the balance sheet reports the assets, liabilities and equity of a business while the income statement reports the revenue and costs that identify if a business is making profits or losses. Q6- balance sheet-[assets and liabilities] income statement-[revenue and costs]
1. Profit is the amount of money gained after all expenses and costs are paid for. Its is important for providing dividents to shareholders, investing money back into the business, expand the business etc. 2. Cash is vital for a business. It is required on a recurring day to day basis, and is the life-line of a business. On the other hand, profit is what is made "extra" after all expenses are met. A business can continue for a while without profit but not cash. 3. We can increase profit by finding cheaper suppliers, hiring cheaper staff and by selling more. 4. Yes. The statement of financial psision and balance sheet is the same thing. 5. A balance sheet contains information about the assets, liabilities and equity held in a business over a period of time. However, an income statement contains info about the revenue and expenses of a business, depicting the profit or loss in the end. 5. Two main elements of a balance sheet are assets and liabilities. For income statement, we have revenue and expenses.
A profit is the amount that business get when its exceeds its expenses and it is also a positive respond from the business operations . It is important as if there is no profit the shareholders won't get any dividends . There will be no expansion for the business and the debts will take longer to get paid. Profit is aim of all the businesses in order to expand and invest more but cash is the blood of the businesses cash is important for the operation of the business it can be referred as the king. 1. By increasing price 2. By giving no discounts 3. by increasing sales A sofp is a report of assets, liabilities and equity over a given period of time of a company whereas an income statement is a financial record of a business consisting the retained profit of a business.
great vid man! btw if i study using these vids, exam-style questions, and checking the mark scheme, do u think that would be enough or should i also go through the textbook too just in case?
1. the amount of money remaining after all expenses by business. it is important because by earning profit a business can expand, and if more profit, more people would want to invest as they can get higher dividends, it also important because businesses can reward themselves and their employees. 2. no it's not. cash is the money currently or soon to be available in the business, whereas profit is the amount of money left after all expenses are paid. 3. No discounts, decrease cost, increase output, increase selling price 4. statement of financial is another name for Balance sheet 5. Balance sheet contains assets, liabilities and equities where as income statement is the finacial report of a company withing a period that contains revenue, profits. expenses that net to profit or loss. 6. Balance sheet contains: equity, assets Income statement: Gross profit, net profit.
1. Profit is the revenues - total costs. It is important for the business survival. 2. No 3. More sales, cutting costs and cheaper suppliers 4. Yes 5. Balance sheet leaves a statment of the equities, assets and liabilities. Income statement is the profit and loss of a business over a period of time. 6. Income statement: -Profit -Loss Balance sheet: -Assets -Equiity
Thank you for the thoroughness explaining Business studies. I like the first until explanations by Business activity . Because of the use of picture i memorized it easier by making it fun.
1.Profit is the revenue gained after business activity expenses,taxes and costs.It is important so the business can grow, hire more employees, buy new equipment, pay back debtors, loans or mortgage, reward shareholders, compensate owners and employees and impact stock price.
2.Cash and profit is not the same as cash is the money available currently and comes in via investors.
3.We can increase profit by lowering the operating cost, increasing the selling price of our product or service or by finding cheaper suppliers.
4.A business' financial statement and balance sheet are not the same thing.
5.A balance sheet reports assets ,liabilities and equity while an income statement reports revenues and expenses that net to a profit or lost.
6.Two main elements of an income statement are operating costs and net profit and two main elements of a balance sheet are assets and equities.
Got my igcse tmr only form of studying was ur vids
same here good luck
@@medinecharyyeva9313 thanks same to you
@@alexkawar3931 im not ready at all, what bout u?
Same
If ur still watching these vids try 1.5x speed
q&a
q1) profit is the cash made by a business after all expenses have been paid. it is important for a business because without profit the business will become un able to expand and will also become vulnerable as they will not be able to pay the debts owned by them to the creditors or to the banks
q2) NO
q3) profit can be increased by
a) reducing the cost of raw materials and components.
b) increasing the selling price of a product.
c) making sure that you are paid in cash instead of supplying credit
q4) yes
q5) no, income statement shows the revenue and costs of a business over a period of time however a balance sheet shows the assets and liabilities and equity held by a business at the current time.
q6) balance sheet : assets
liabilites
income statement : revenue
expenses
Good answers
Sense Business Studies thank you
Q1) profit is the regained money u get in ur business in other words you can know what’s your profit when you minus ur sales revenue and and the costs
Profit is really important for all businesses regarding if it’s private or public if you don’t make a profit in your business no shareholders will be interested to invest in your business and it will be hard to get a bank loan or an overdraft since it will be hard to pay them your debt back
Q2) profit and cash aren’t the same you can’t star a business without a cash and you can’t survive without a profit when doing a business you need to hv the money for it and when investing with that cash you will be able to get your profit after paying all your expenses
Q3) lncreasing the prices and discounts and finding cheaper suppliers
Q1- profit is the amount of money received by a firm that exceeds the value of a good or service that he/she has sold. Profits are important so that a firm can expand his/her business.
Q2- no.
Q3-increase product quality, increase labour productivity, advertising.
Q4-yes
Q5-the balance sheet reports the assets, liabilities and equity of a business while the income statement reports the revenue and costs that identify if a business is making profits or losses.
Q6- balance sheet-[assets and liabilities] income statement-[revenue and costs]
spot on.
1. Profit is the amount of money gained after all expenses and costs are paid for. Its is important for providing dividents to shareholders, investing money back into the business, expand the business etc.
2. Cash is vital for a business. It is required on a recurring day to day basis, and is the life-line of a business. On the other hand, profit is what is made "extra" after all expenses are met. A business can continue for a while without profit but not cash.
3. We can increase profit by finding cheaper suppliers, hiring cheaper staff and by selling more.
4. Yes. The statement of financial psision and balance sheet is the same thing.
5. A balance sheet contains information about the assets, liabilities and equity held in a business over a period of time. However, an income statement contains info about the revenue and expenses of a business, depicting the profit or loss in the end.
5. Two main elements of a balance sheet are assets and liabilities. For income statement, we have revenue and expenses.
A profit is the amount that business get when its exceeds its expenses and it is also a positive respond from the business operations . It is important as if there is no profit the shareholders won't get any dividends . There will be no expansion for the business and the debts will take longer to get paid.
Profit is aim of all the businesses in order to expand and invest more but cash is the blood of the businesses cash is important for the operation of the business it can be referred as the king.
1. By increasing price
2. By giving no discounts
3. by increasing sales
A sofp is a report of assets, liabilities and equity over a given period of time of a company whereas an income statement is a financial record of a business consisting the retained profit of a business.
Your are a life saver thank you
great vid man! btw if i study using these vids, exam-style questions, and checking the mark scheme, do u think that would be enough or should i also go through the textbook too just in case?
InshAllah it will be enough. No need for text book. I am not using it.
ik im late but go through the textbook
1. the amount of money remaining after all expenses by business. it is important because by earning profit a business can expand, and if more profit, more people would want to invest as they can get higher dividends, it also important because businesses can reward themselves and their employees.
2. no it's not. cash is the money currently or soon to be available in the business, whereas profit is the amount of money left after all expenses are paid.
3. No discounts, decrease cost, increase output, increase selling price
4. statement of financial is another name for Balance sheet
5. Balance sheet contains assets, liabilities and equities where as income statement is the finacial report of a company withing a period that contains revenue, profits. expenses that net to profit or loss.
6. Balance sheet contains: equity, assets
Income statement: Gross profit, net profit.
As an accounting student, this is the first time i felt happy bcoz of my subject😂😂😂
1. Profit is the revenues - total costs. It is important for the business survival.
2. No
3. More sales, cutting costs and cheaper suppliers
4. Yes
5. Balance sheet leaves a statment of the equities, assets and liabilities. Income statement is the profit and loss of a business over a period of time.
6. Income statement:
-Profit
-Loss
Balance sheet:
-Assets
-Equiity
In 8:20 isn't that gross profit rather than profit?
this is the best guys
0:06 he said 3.5 instead of 5.3
nobody cares my guy
well done
you count wages as a cost of sale not expenses
you're wrong, wages is considered as an expense for the business (from business pov)
16:54
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