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Finance and Accounts 1

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Finance and Accounts

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Key Terms

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Costs

• Fixed (Indirect/Overheads)
• Variable (Direct)
• Semi-fixed

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Revenue

• Price
• Quantity

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Break Even

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Purpose of Accounts

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Profit and Loss Account - Flow

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Balance Sheet - Snapshot

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Source of Funds

• Liabilities
• Loans
• Shares

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Use of Funds

• Fixed Assets
• Current Assets

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