- The five sources of finance are: Assistance by the Government., Commercial Bank Loans and Overdraft, Financial Bootstrapping, Buyouts, Personal Investment or Personal Savings.
- A customer need is a need that motivates a customer to purchase a product or service. The need can be known (i.e., the customer can put it into words) or unknown, and is the ultimate factor that determines which solution the customer purchases.
- The break-even point is reached when overall costs and total revenues are equal, leaving your small firm with no net benefit or loss. In other words, you've achieved the point in production where the revenue from a product equals the cost of manufacture.
- Technology used in Business: Computers, Software, Networking, Telephone Communication, Accounting System, Inventory Control System
- Cash flow table: The net cash outcome of an activity is shown at regular items over a period of time in a cash flow table, which is a spreadsheet representation of cash inflows and cash outflows in a venture or department. These cash flows are positioned next to collected income and costs to demonstrate the difference between cash and books.
- Revenue is another word for the amount of money a company generates from its sales. Revenue is most simply calculated as the number of units sold multiplied by the selling price. Total Costs = Net Revenue - Net Income. If the result is positive, the revenue is more than expenses, making a profit.
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