Revenue
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The document discusses revenue, profit maximization, and the relationship between marginal costs and marginal revenues. It defines revenue as income received from normal business activities like sales of goods and services. Profit is the amount remaining after subtracting total costs from total revenue. A firm maximizes profits where marginal revenue equals marginal costs - the point where additional revenue from one more unit of output exactly offsets the additional costs of producing that unit.
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Measurement of profit
The document discusses the measurement of profit according to accounting standards. It defines key terms like income, revenue, gains, expenses, losses, comprehensive income and equity. It explains the different approaches to measuring periodic profit and notes that the comprehensive income approach is adopted in AASB 101. Accounting standards for items like revenue, expenses and equity are also outlined.
Profit
This document defines profit and distinguishes between accounting and economic profit. It states that profit is the reward to owners for taking risks and is the difference between revenue and costs. While accountants view costs as expenses, economists see costs as also including opportunity costs of using resources. Economic profit subtracts normal profit, which is the amount that could be earned elsewhere, from accounting profit. Abnormal profit occurs when economic profit is positive, indicating resources could be better allocated to that good's production. The document encourages testing understanding of these profit concepts through a worksheet task.
Profit maximization
This document discusses profit maximization, which refers to determining the price and output level that generates the highest profit for a business. It defines profit as total revenue minus total costs. The document outlines two main methods for profit maximization: the marginal cost-marginal revenue method and the total cost-total revenue method. It explains that to maximize economic profits, a firm should produce the quantity where marginal revenue equals marginal costs. The document also notes that while profit maximization is good for businesses, it can be bad for consumers if companies cut costs or raise prices excessively.
Accounting profit & Economic profit
This is a simple presentation slide about Accounting profit & Economic Profit. Preapered for Micro economics, Bangladesh University of Professionals.
Profit analysis and profit policies
The document discusses profit analysis and profit policies. It defines profit as the compensation received by a firm and distinguishes between normal profit needed to remain in business and supernormal profit. Profit analysis simplifies calculations like breakeven analysis and is used for short-term decisions assuming constant costs and revenues. While economic theory advocates for profit maximization, modern businesses aim to maximize profit but also consider other goals like industry leadership, restricting competition, political and consumer impacts, labor relations, financial liquidity, and risk avoidance.
Measuring and increasing profit
The document discusses key finance concepts related to managing a business, including:
- Profit is revenue minus total costs, while profitability is a business's ability to generate profit efficiently.
- Net profit margin and return on capital are two common measures of profitability, calculated by comparing profit to sales or capital invested.
- Businesses can improve profitability by increasing prices, decreasing costs, or boosting sales volumes - though these strategies also carry risks if not implemented carefully.
- While profit and cash flow are related, a profitable business may still face short-term cash shortages due to investing profits back into the business or tying up capital in inventory, assets, or by extending credit to customers.
Theory of firm
Baumol's theory of the firm proposes that businesses aim to maximize sales rather than profits. The theory states that managers seek to rapidly grow market share subject to earning at least normal profits. This generally involves charging lower prices than profit maximization to increase sales. Businesses are assumed to operate in an oligopolistic market with downward sloping demand curves. The theory argues that businesses choose sales maximization over profit maximization because larger sales volumes lead to economies of scale, higher salaries, and prestige for managers. Sales are maximized at the point where marginal revenue equals average revenue (or total cost equals total revenue), allowing normal profits but not necessarily maximum profits.
Profit maximisation & its alternatives
The document discusses profit maximization and different approaches companies take to maximize profit. It provides two approaches to profit maximization in the short run using total revenue and total cost curves, and marginal revenue and marginal cost curves. Profit is maximized where marginal revenue equals marginal cost. The document also discusses factors that can prevent companies from strictly pursuing profit maximization and alternative objectives companies may pursue like long-run survival, maintaining market share, and managerial utility.
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Measurement of profit
The document discusses the measurement of profit according to accounting standards. It defines key terms like income, revenue, gains, expenses, losses, comprehensive income and equity. It explains the different approaches to measuring periodic profit and notes that the comprehensive income approach is adopted in AASB 101. Accounting standards for items like revenue, expenses and equity are also outlined.
Profit
This document defines profit and distinguishes between accounting and economic profit. It states that profit is the reward to owners for taking risks and is the difference between revenue and costs. While accountants view costs as expenses, economists see costs as also including opportunity costs of using resources. Economic profit subtracts normal profit, which is the amount that could be earned elsewhere, from accounting profit. Abnormal profit occurs when economic profit is positive, indicating resources could be better allocated to that good's production. The document encourages testing understanding of these profit concepts through a worksheet task.
Profit maximization
This document discusses profit maximization, which refers to determining the price and output level that generates the highest profit for a business. It defines profit as total revenue minus total costs. The document outlines two main methods for profit maximization: the marginal cost-marginal revenue method and the total cost-total revenue method. It explains that to maximize economic profits, a firm should produce the quantity where marginal revenue equals marginal costs. The document also notes that while profit maximization is good for businesses, it can be bad for consumers if companies cut costs or raise prices excessively.
Accounting profit & Economic profit
This is a simple presentation slide about Accounting profit & Economic Profit. Preapered for Micro economics, Bangladesh University of Professionals.
Profit analysis and profit policies
The document discusses profit analysis and profit policies. It defines profit as the compensation received by a firm and distinguishes between normal profit needed to remain in business and supernormal profit. Profit analysis simplifies calculations like breakeven analysis and is used for short-term decisions assuming constant costs and revenues. While economic theory advocates for profit maximization, modern businesses aim to maximize profit but also consider other goals like industry leadership, restricting competition, political and consumer impacts, labor relations, financial liquidity, and risk avoidance.
Measuring and increasing profit
The document discusses key finance concepts related to managing a business, including:
- Profit is revenue minus total costs, while profitability is a business's ability to generate profit efficiently.
- Net profit margin and return on capital are two common measures of profitability, calculated by comparing profit to sales or capital invested.
- Businesses can improve profitability by increasing prices, decreasing costs, or boosting sales volumes - though these strategies also carry risks if not implemented carefully.
- While profit and cash flow are related, a profitable business may still face short-term cash shortages due to investing profits back into the business or tying up capital in inventory, assets, or by extending credit to customers.
Theory of firm
Baumol's theory of the firm proposes that businesses aim to maximize sales rather than profits. The theory states that managers seek to rapidly grow market share subject to earning at least normal profits. This generally involves charging lower prices than profit maximization to increase sales. Businesses are assumed to operate in an oligopolistic market with downward sloping demand curves. The theory argues that businesses choose sales maximization over profit maximization because larger sales volumes lead to economies of scale, higher salaries, and prestige for managers. Sales are maximized at the point where marginal revenue equals average revenue (or total cost equals total revenue), allowing normal profits but not necessarily maximum profits.
Profit maximisation & its alternatives
The document discusses profit maximization and different approaches companies take to maximize profit. It provides two approaches to profit maximization in the short run using total revenue and total cost curves, and marginal revenue and marginal cost curves. Profit is maximized where marginal revenue equals marginal cost. The document also discusses factors that can prevent companies from strictly pursuing profit maximization and alternative objectives companies may pursue like long-run survival, maintaining market share, and managerial utility.
profit macimization
Profit maximization involves adjusting factors like production costs, sale prices, and output levels to maximize a company's returns. There are two main methods: marginal cost-marginal revenue and total cost-total revenue. Sales maximization aims to generate as much revenue as possible in the short-term, while profit maximization focuses on long-term net income and viability. While revenue does not necessarily mean profits, profit maximization maintains reasonable profit margins over time and positions the business for long-term success by balancing sales growth and value perception. The risks of prioritizing sales include restricting a company's ability to maximize profits in the long run if sales objectives are mismanaged.
Satisficing Business Objectives
The satisficing principle describes how business managers may choose to meet minimum acceptable targets rather than maximize profits. Managers may set a price slightly below the profit-maximizing level and output slightly higher in order to gain market share or boost revenues in the short-term. This satisficing behavior was coined by Herbert Simon and recognizes that businesses do not always have perfect information or solely profit-driven objectives. A firm satisficing could set price below P1 and output above Q1 on the diagrams shown, meeting minimum profit targets but having flexibility to also pursue other goals.
Boumals theory of sales maximisation
- Baumol's theory of sales maximization proposes that managers primarily aim to maximize sales revenue rather than profit.
- The static model of sales maximization assumes a single time period horizon and that firms will produce up to the point where marginal revenue equals marginal cost, even if this leads to profits below the minimum acceptable level, in order to maximize sales.
- The model is extended to include advertising, suggesting that sales-maximizing firms will spend more on advertising than profit-maximizing firms to further increase sales revenue.
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Economics
1. The document summarizes Baumol's sales maximization model, which proposes that firms aim to maximize sales revenue rather than profit.
2. It outlines the key assumptions of the model, including that firms operate in single periods and must meet minimum profit constraints.
3. The document then applies the model to both a single product firm without advertising and with advertising, showing how a sales maximizer would produce a higher output level than a profit maximizer in both cases.
1d kno how on normal profit
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Firm in competitive markets 1
1. The document discusses competitive markets and how firms make production decisions within them. It uses the examples of a local gas station and water company to illustrate the differences between competitive and non-competitive markets.
2. A competitive market is defined as having many small buyers and sellers, as well as goods/services that are essentially identical. In such a market, no single actor can influence prices. Firms are price takers rather than price makers.
3. The chapter analyzes how competitive firms maximize profits by equating their marginal revenue with their marginal costs of production. Total revenue for a competitive firm is determined by market price multiplied by quantity sold. Both average and marginal revenue for a competitive firm equal the market price.
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1. The document discusses different types of business entities including sole traders, partnerships, and companies. It compares sole traders to partnerships and describes the differences between private and public limited companies.
2. The key business activities are described as services, merchandising/trading/retailing, and manufacturing. The costs associated with each are outlined.
3. Setting up a business requires understanding external forces in the political, economic, social, technological, geographical, and competitive environments. A SWOT analysis and establishing objectives are important initial steps. Planning, budgeting, and managing the business are also discussed.
Goodwill of a company-Accounting aspect.
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Financial Accounting 6
The document discusses key aspects of the income statement. It provides an illustrated example of an income statement and explains major line items such as revenues, expenses, operating income, and net income. It also discusses uses of the income statement for decision making, revenue and expense recognition principles, and how income statement analysis can be used by managers, investors and other stakeholders.
Theory of firm
This document summarizes several theories of the firm, including:
1) Managerial theories propose that managers pursue maximum growth or sales revenue to increase their power, status, and job security rather than maximizing profits.
2) Baumol's theory suggests managers maximize sales subject to a minimum profit constraint.
3) Marris's theory argues managers maximize growth rates at the expense of future profits to satisfy their own utility functions.
4) Williamson's theory proposes managers maximize their own utility from variables like staff spending, benefits, and discretionary profits.
5) Cyert and March's behavioral theory defines the firm by its decision-making processes and argues managers set satisficing goals that reconcile various stakeholder interests
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Corporate valuation
This document discusses various methods for valuing a corporate business, including:
1. The discounted cash flow method, which values a business based on its future free cash flows discounted at the firm's weighted average cost of capital.
2. Relative valuation methods like comparable company analysis and comparable transaction analysis, which derive valuation multiples from similar public companies or M&A transactions.
3. Other methods like the net asset value approach and Tobin's Q, which value a business based on its asset book values.
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2) Super Profits Method - Which values goodwill based on "super profits", the amount of profits earned above a business's normal rate of return on capital employed. Super profits are multiplied by the number of years of purchase to value goodwill.
3) Number of Years Purchase Method - Which values goodwill as the future maintainable profits multiplied by the number of years those profits are expected to continue into the future.
The document provides examples
Transfer Pricing
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The document discusses brand valuation and outlines several key points:
1. Initially, tangible assets were seen as the main business value, but recognition of intangible value like brands grew with the increasing gap between book and market values.
2. Brands are valuable assets that can be quantified and valued using various approaches like discounted cash flow analysis and calculating the brand's contribution to profits.
3. A five step process for brand valuation includes market segmentation, financial analysis, demand analysis, competitive benchmarking, and calculating the brand value.
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profit macimization
Profit maximization involves adjusting factors like production costs, sale prices, and output levels to maximize a company's returns. There are two main methods: marginal cost-marginal revenue and total cost-total revenue. Sales maximization aims to generate as much revenue as possible in the short-term, while profit maximization focuses on long-term net income and viability. While revenue does not necessarily mean profits, profit maximization maintains reasonable profit margins over time and positions the business for long-term success by balancing sales growth and value perception. The risks of prioritizing sales include restricting a company's ability to maximize profits in the long run if sales objectives are mismanaged.
Satisficing Business Objectives
The satisficing principle describes how business managers may choose to meet minimum acceptable targets rather than maximize profits. Managers may set a price slightly below the profit-maximizing level and output slightly higher in order to gain market share or boost revenues in the short-term. This satisficing behavior was coined by Herbert Simon and recognizes that businesses do not always have perfect information or solely profit-driven objectives. A firm satisficing could set price below P1 and output above Q1 on the diagrams shown, meeting minimum profit targets but having flexibility to also pursue other goals.
Boumals theory of sales maximisation
- Baumol's theory of sales maximization proposes that managers primarily aim to maximize sales revenue rather than profit.
- The static model of sales maximization assumes a single time period horizon and that firms will produce up to the point where marginal revenue equals marginal cost, even if this leads to profits below the minimum acceptable level, in order to maximize sales.
- The model is extended to include advertising, suggesting that sales-maximizing firms will spend more on advertising than profit-maximizing firms to further increase sales revenue.
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The accruals and going concern concepts are regarded as fundamental in the preparation of financial statements. Discuss the advantages and disadvantages of these concepts, explaining the reasons why these concepts may be difficult to apply or may be inconsistent with other concepts.
Merger and Acquisitions -HP and Compac
The document discusses various methods for valuing firms during mergers and acquisitions. It describes balance sheet, dividend discount, and cash flow valuation models. It also outlines the steps in a valuation, including analyzing historical performance, forecasting performance, estimating the cost of capital, and calculating and interpreting results. Finally, it analyzes the proposed merger between HP and Compaq using relative stock prices, comparable companies, premium analyses, and pro forma earnings impacts.
Economics
1. The document summarizes Baumol's sales maximization model, which proposes that firms aim to maximize sales revenue rather than profit.
2. It outlines the key assumptions of the model, including that firms operate in single periods and must meet minimum profit constraints.
3. The document then applies the model to both a single product firm without advertising and with advertising, showing how a sales maximizer would produce a higher output level than a profit maximizer in both cases.
1d kno how on normal profit
Profit measures the return on risk-taking by entrepreneurs. There are three types of profit: normal profit, which is required to keep a business operating; sub-normal profit, which is less than normal; and abnormal or supernormal profit, which occurs when firms earn more than normal profit and provides incentives for other firms to enter the market. Economists calculate economic profit by considering total revenue, explicit costs, and opportunity costs of capital invested and owner's salary elsewhere.
ECONOMIC PROFIT- BY ARUN RAJ V
Knight's theory of profit states that profit is the reward for bearing uncertainty in business. There are two types of risks: foreseeable risks that can be insured against, and unforeseen risks that cannot be planned or insured for, like changes in government policy. Firms seek to maximize profits by achieving the greatest difference between total revenue and total costs. This level of reasonable profit allows firms to cover liabilities and encourages them to remain in business. Spot projections estimate a profit and loss statement for a future period to help plan for uncertainties.
Firm in competitive markets 1
1. The document discusses competitive markets and how firms make production decisions within them. It uses the examples of a local gas station and water company to illustrate the differences between competitive and non-competitive markets.
2. A competitive market is defined as having many small buyers and sellers, as well as goods/services that are essentially identical. In such a market, no single actor can influence prices. Firms are price takers rather than price makers.
3. The chapter analyzes how competitive firms maximize profits by equating their marginal revenue with their marginal costs of production. Total revenue for a competitive firm is determined by market price multiplied by quantity sold. Both average and marginal revenue for a competitive firm equal the market price.
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Explains about the transfer pricing, how its been used by MNC's to avoid taxes and get benefited more.
Valuation of shares
Valuation of shares, nature of shares, factors affecting shares, need for valuation of shares, method of valuation of shares, net asset based method, yield based method, fair value method
Topic 2 Business Entity
1. The document discusses different types of business entities including sole traders, partnerships, and companies. It compares sole traders to partnerships and describes the differences between private and public limited companies.
2. The key business activities are described as services, merchandising/trading/retailing, and manufacturing. The costs associated with each are outlined.
3. Setting up a business requires understanding external forces in the political, economic, social, technological, geographical, and competitive environments. A SWOT analysis and establishing objectives are important initial steps. Planning, budgeting, and managing the business are also discussed.
Goodwill of a company-Accounting aspect.
Goodwill represents the intangible value of a business beyond its physical assets, including brand reputation, customer loyalty, and proprietary technology. It is calculated as the difference between a business's total value and the value of its net tangible assets. For service businesses like laboratories, goodwill is often estimated as the EBITDA multiplied by an industry-standard factor, such as 7-8 times EBITDA for US labs. The sale of goodwill generates capital gains tax. Valuing goodwill requires assessing the reasonableness of the implied value based on company-specific factors.
Financial Accounting 6
The document discusses key aspects of the income statement. It provides an illustrated example of an income statement and explains major line items such as revenues, expenses, operating income, and net income. It also discusses uses of the income statement for decision making, revenue and expense recognition principles, and how income statement analysis can be used by managers, investors and other stakeholders.
Theory of firm
This document summarizes several theories of the firm, including:
1) Managerial theories propose that managers pursue maximum growth or sales revenue to increase their power, status, and job security rather than maximizing profits.
2) Baumol's theory suggests managers maximize sales subject to a minimum profit constraint.
3) Marris's theory argues managers maximize growth rates at the expense of future profits to satisfy their own utility functions.
4) Williamson's theory proposes managers maximize their own utility from variables like staff spending, benefits, and discretionary profits.
5) Cyert and March's behavioral theory defines the firm by its decision-making processes and argues managers set satisficing goals that reconcile various stakeholder interests
Profitibility ratio By- Deepak Madan (M.com, B.ed)
This document discusses various profitability ratios that can be used to measure the profitability of a company. It defines ratios such as gross profit ratio, operating ratio, operating profit ratio, net profit ratio, and return on investment. For each ratio, it provides the meaning, formula, and significance. The ratios measure aspects of profitability like the relationship between profits and revenues, the extent of revenue absorbed by costs, and the overall profitability of a business relative to capital employed.
Corporate valuation
This document discusses various methods for valuing a corporate business, including:
1. The discounted cash flow method, which values a business based on its future free cash flows discounted at the firm's weighted average cost of capital.
2. Relative valuation methods like comparable company analysis and comparable transaction analysis, which derive valuation multiples from similar public companies or M&A transactions.
3. Other methods like the net asset value approach and Tobin's Q, which value a business based on its asset book values.
The document provides steps and considerations for each method to determine a company's economic worth based on its financials, industry, and investment characteristics.
Valuation of goodwill & shares with solution of problems
The document discusses various methods for valuing goodwill, including:
1) Future Maintainable Profits Method - Which values goodwill based on the future profits a business is expected to maintain. It calculates average past profits over several years to estimate future profits.
2) Super Profits Method - Which values goodwill based on "super profits", the amount of profits earned above a business's normal rate of return on capital employed. Super profits are multiplied by the number of years of purchase to value goodwill.
3) Number of Years Purchase Method - Which values goodwill as the future maintainable profits multiplied by the number of years those profits are expected to continue into the future.
The document provides examples
Transfer Pricing
Transfer pricing refers to the prices charged for goods and services transferred between divisions of a multinational company operating across international borders. The objectives of transfer pricing include reducing taxes, managing cash flows, and avoiding conflicts with governments. Common transfer pricing methods are market-based prices, cost-based prices, and negotiated prices. Transfer pricing allows companies to shift profits between countries to minimize taxes but also presents challenges in terms of performance measurement and conflicts with tax authorities.
Company Valuation
The document discusses brand valuation and outlines several key points:
1. Initially, tangible assets were seen as the main business value, but recognition of intangible value like brands grew with the increasing gap between book and market values.
2. Brands are valuable assets that can be quantified and valued using various approaches like discounted cash flow analysis and calculating the brand's contribution to profits.
3. A five step process for brand valuation includes market segmentation, financial analysis, demand analysis, competitive benchmarking, and calculating the brand value.
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Profitibility ratio By- Deepak Madan (M.com, B.ed)
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Valuation of goodwill & shares with solution of problems
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Similar to Revenue
Profitability & Control Measures, Demand and Challenges.pptx
Profitability and Control Measures , Challenges and Demands
techniques to measure and enhance profitability and quality of a product or ...
This document discusses various techniques to measure corporate performance, quality, and profitability. It outlines ratios and analyses that can be used to measure profitability, including margin ratios, return on assets, return on investment, and break-even analysis. Break-even analysis in particular calculates the sales volume needed to cover total costs. The document also discusses techniques for enhancing quality and profitability, such as increasing sales, controlling costs, reducing waste, and benchmarking quality metrics.
What is profit margin
The profit margin is a measure of profitability, which is a net profit ratio. It is the amount in which the generated revenue from the sales exceeds the incurred costs in the business. In simpler terms, it means the income earned through making the sales. There are four levels of profit margins. These include operating profit, gross profit, net profit, and pre-tax profit.
Break-Even Point
The document discusses the break-even point (BEP), which is the level of output or sales required for a company to cover its total costs. It defines BEP as the point where total revenue equals total costs, resulting in no profit or loss. The document then provides an overview of how to calculate BEP using fixed and variable costs. It also discusses how understanding BEP can help businesses evaluate their costs, sales, and profitability.
Why is “Profit” a problematic target Please consider in your answer.pdf
Why is “Profit” a problematic target? Please consider in your answer different types of profit, the
possible differences between profit and turnover (=sales) as a measure and also the definitions
and meaning of profit/capital ratio(s).
Solution
\"Profit\" is a problematic target because it includes wide range of emotions and and issues
among respondents i.e. they ranged acceptable profit to profit effect on decision making and
future variability of capitalization. in same way today\'s cash is driven by yesterday;s decision
making on pricing. Profit is the difference between income a business generates and expenses
incurred in business running.
Types of Profit -
1. Gross Profit - Gross profit is difference between all sales of the company and cost of
producing the products for a company. this mainly used by company officials when making
decision about pricing and what material to be used in manufacturing part of business.
2. Net Profit - Net profit subtracts all of the expenses of company from its gross sales. The net
profit is and indicator that how business performing over the time.
3. Net Profit after Interest and Tax - Net profit of a company further reduced when interest and
taxes are deducted from profit.
4. Retained Profit - Retained profit is any profit remaining after the shareholders receive their
dividends.most of the time this funds will reinvested in company.
Differences between profit and turnover -
Turnover is net sales generated by firm while profit is earning of a firm after all expenses have
been charged against net sales.Thus Turnover and Profit is beginning and ending points of the
income statements.
A difference between turnover and profit is that a rising in turnover may be a sign that business
is growing but profit is and indicator of health of business.
The definitions and meaning of profit/capital ratio - Profit capital ratio expressed as percentage,
complements ratio by add a company\'s debt liabilities, or funded debt, to equity to reflect
company\'s total capital. This ratio measures narrow focus to gain a better understanding of
company\'s ability to generate returns from available sources..
Orca share media1519133633713
The document defines and explains the key elements and purpose of the Statement of Comprehensive Income (SCI). The SCI reports the results of a business's operations for a reporting period by showing revenues, expenses, and net income. It contains revenue from sales and other sources, costs associated with generating that revenue, and the resulting income or profit. The SCI uses the accrual basis of accounting to determine when revenues are earned and expenses are incurred.
Cost volume profit analysis
This document discusses key concepts in cost volume profit (CVP) analysis including:
1) CVP analysis explores the relationship between costs, revenue, volume and their impact on profits. It examines fixed costs, variable costs, semi-variable costs, contribution margin, break-even point, and profit-volume ratio.
2) Fixed costs remain the same for different production levels while variable costs change with output. The margin of safety is the difference between actual and break-even sales.
3) The profit-volume ratio measures the rate of change in profit due to changes in sales volume and can be calculated in different ways. Ratio analysis is used to evaluate liquidity, investment risk and returns, financial leverage, and
CASE 5Business Performance Evaluation Approaches for Thoughtf.docx
CASE 5
Business Performance Evaluation: Approaches for Thoughtful Forecasting
Every day, fortunes are won and lost on the backs of business performance assessments and forecasts. Because of the uncertainty surrounding business performance, the man-ager should appreciate that forecasting is not the same as fortune-telling; unanticipated events have a way of making certain that specific forecasts are never exactly correct. This note purports, however, that thoughtful forecasts greatly aid managers in under-standing the implications of various outcomes (including the most probable outcome) and identify the key bets associated with a forecast. Such forecasts provide the manager with an appreciation of the odds of business success. This note examines principles in the art and science of thoughtful financial fore-casting for the business manager. In particular, it reviews the importance of (1) under-standing the financial relationships of a business enterprise, (2) grounding business forecasts in the reality of the industry and macroenvironment, (3) modeling a forecast that embeds the implications of business strategy, and (4) recognizing the potential for cognitive bias in the forecasting process. The note closes with a detailed example of financial forecasting based on the example of the Swiss food and nutrition com-pany Nestle.
Understanding the Financial Relationships of the Business Enterprise
Financial statements provide information on the financial activities of an enterprise. Much like the performance statistics from an athletic contest, financial statements provide an array of identifying data on various historical strengths and weaknesses
This technical note was prepared by Professor Michael J. Schill. Special thanks go to Vladimir Kolcin for data-collection assistance and to Lee Ann Long-Tyler and Ray Nedzel for technical assistance. Copyright © 2015 by the University of Virginia Darden School Foundation, Charlottesville, VA. All rights reserved. To order copies, send an e-mail to [email protected] No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means—electronic, mechanical, photocopying, recording, or otherwise—without the permission of the Darden School Foundation.
Part TwoFinancial Analysis and Forecasting
across a broad spectrum of business activities. The income statement (also known as the profit-and-loss statement) measures flows of costs, revenue, and profits over a defined period of time, such as a year. The balance sheet provides a snapshot of business invest-ment and financing at a particular point in time, such as the end of a year. Both state-ments combine to provide a rich picture of a business’s financial performance. The analysis of financial statements is one important way of understanding the mechanics of the systems that make up business operations. Interpreting Financial Ratios Financial ratios provide a useful way to id.
CASE 5Business Performance Evaluation Approaches for Thoughtf.docx
CASE 5
Business Performance Evaluation: Approaches for Thoughtful Forecasting
Every day, fortunes are won and lost on the backs of business performance assessments and forecasts. Because of the uncertainty surrounding business performance, the man-ager should appreciate that forecasting is not the same as fortune-telling; unanticipated events have a way of making certain that specific forecasts are never exactly correct. This note purports, however, that thoughtful forecasts greatly aid managers in under-standing the implications of various outcomes (including the most probable outcome) and identify the key bets associated with a forecast. Such forecasts provide the manager with an appreciation of the odds of business success. This note examines principles in the art and science of thoughtful financial fore-casting for the business manager. In particular, it reviews the importance of (1) under-standing the financial relationships of a business enterprise, (2) grounding business forecasts in the reality of the industry and macroenvironment, (3) modeling a forecast that embeds the implications of business strategy, and (4) recognizing the potential for cognitive bias in the forecasting process. The note closes with a detailed example of financial forecasting based on the example of the Swiss food and nutrition com-pany Nestle.
Understanding the Financial Relationships of the Business Enterprise
Financial statements provide information on the financial activities of an enterprise. Much like the performance statistics from an athletic contest, financial statements provide an array of identifying data on various historical strengths and weaknesses
This technical note was prepared by Professor Michael J. Schill. Special thanks go to Vladimir Kolcin for data-collection assistance and to Lee Ann Long-Tyler and Ray Nedzel for technical assistance. Copyright © 2015 by the University of Virginia Darden School Foundation, Charlottesville, VA. All rights reserved. To order copies, send an e-mail to [email protected] No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means—electronic, mechanical, photocopying, recording, or otherwise—without the permission of the Darden School Foundation.
Part TwoFinancial Analysis and Forecasting
across a broad spectrum of business activities. The income statement (also known as the profit-and-loss statement) measures flows of costs, revenue, and profits over a defined period of time, such as a year. The balance sheet provides a snapshot of business invest-ment and financing at a particular point in time, such as the end of a year. Both state-ments combine to provide a rich picture of a business’s financial performance. The analysis of financial statements is one important way of understanding the mechanics of the systems that make up business operations. Interpreting Financial Ratios Financial ratios provide a useful way to id.
Presentation Of Security Analy
The document discusses factors that influence company earnings and forecasts. It covers topics like earnings before interest and taxes (EBIT), return on assets, earnings per share, leverage, tax rates, fixed and variable costs, and break-even point analysis. Management efficiency, sales, capacity utilization, debt financing, asset value, and tax planning can all impact EBIT. Forecasting individual revenue and expense items provides the most scientific way to estimate earnings, which are used along with the price-earnings ratio to deduce expected market price. Companies with large capital investments have high break-even points and longer periods to generate profits and dividends.
Distributors kpi
The document discusses a cost plus model for remunerating business partners or distributors. It proposes a 5 step process: 1) identify required services, 2) identify structure to deliver services, 3) determine costs of structure and services, 4) ensure distributor basic profit relates to costs incurred, 5) determine sales levels to calculate commissions. Additional profit is tied to achieving key performance indicators to incentivize cost reduction and growth while ensuring equitable remuneration.
UV1385 Rev. Nov. 14, 2016 This technical note was .docx
UV1385
Rev. Nov. 14, 2016
This technical note was prepared by Professor Michael J. Schill. Special thanks go to Vladimir Kolcin for data-collection assistance and to Lee Ann
Long-Tyler and Ray Nedzel for technical assistance. Copyright 2015 by the University of Virginia Darden School Foundation, Charlottesville, VA.
All rights reserved. To order copies, send an e-mail to [email protected] No part of this publication may be reproduced, stored in a retrieval system,
used in a spreadsheet, or transmitted in any form or by any means—electronic, mechanical, photocopying, recording, or otherwise—without the permission of the Darden School
Foundation.
Business Performance Evaluation:
Approaches for Thoughtful Forecasting
Every day, fortunes are won and lost on the backs of business performance assessments and forecasts.
Because of the uncertainty surrounding business performance, the manager should appreciate that forecasting
is not the same as fortune-telling; unanticipated events have a way of making certain that specific forecasts are
never exactly correct. This note purports, however, that thoughtful forecasts greatly aid managers in
understanding the implications of various outcomes (including the most probable outcome) and identify the
key bets associated with a forecast. Such forecasts provide the manager with an appreciation of the odds of
business success.
This note examines principles in the art and science of thoughtful financial forecasting for the business
manager. In particular, it reviews the importance of (1) understanding the financial relationships of a business
enterprise, (2) grounding business forecasts in the reality of the industry and macroenvironment, (3) modeling
a forecast that embeds the implications of business strategy, and (4) recognizing the potential for cognitive
bias in the forecasting process. The note closes with a detailed example of financial forecasting based on the
example of the Swiss food and nutrition company Nestle.
Understanding the Financial Relationships of the Business Enterprise
Financial statements provide information on the financial activities of an enterprise. Much like the
performance statistics from an athletic contest, financial statements provide an array of identifying data on
various historical strengths and weaknesses across a broad spectrum of business activities. The income
statement (also known as the profit-and-loss statement) measures flows of costs, revenue, and profits over a
defined period of time, such as a year. The balance sheet provides a snapshot of business investment and
financing at a particular point in time, such as the end of a year. Both statements combine to provide a rich
picture of a business’s financial performance. The analysis of financial statements is one important way of
understanding the mechanics of the systems that make up business operations.
Interpreting financial ratios
Financial ratios provide a usefu ...
FINANCIAL-PLANNING-ENTREPRENEURSHIP.pptx
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Cost of Goods Sold.docx
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Tax audit series under section 44AB
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Profitability & Control Measures, Demand and Challenges.pptx
Profitability & Control Measures, Demand and Challenges.pptx
techniques to measure and enhance profitability and quality of a product or ...
techniques to measure and enhance profitability and quality of a product or ...
Why is “Profit” a problematic target Please consider in your answer.pdf
Why is “Profit” a problematic target Please consider in your answer.pdf
CASE 5Business Performance Evaluation Approaches for Thoughtf.docx
CASE 5Business Performance Evaluation Approaches for Thoughtf.docx
CASE 5Business Performance Evaluation Approaches for Thoughtf.docx
CASE 5Business Performance Evaluation Approaches for Thoughtf.docx
UV1385 Rev. Nov. 14, 2016 This technical note was .docx
UV1385 Rev. Nov. 14, 2016 This technical note was .docx
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- 1. Revenue & Profit Maximization Submitted To, Submitted By, Dr. Anandamoy Mondal Soumya Sardar Dept. of Fisheries Economics & Statistics B.F.Sc 2nd Year F/2015/37
- 2. REVENUE Revenue is income that a company receives from its normal business activities, usually from the sale of goods and services to customers. In many countries, such as the United Kingdom, revenue is referred to as turnover. Some companies receive revenue from interest, dividends or royalties paid to them by other companies. Revenue may refer to business income in general, or it may refer to the amount, in a monetary unit, received during a period of time, as in "Last year, Company X had revenue of $42 million." Profits or net income generally imply total revenue minus total expenses in a given period. In accounting, revenue is often referred to as the "top line" due to its position on the income statement at the very top. This is to be contrastedwith the "bottomline"which denotes net income. In general usage, revenue is income received by an organization in the form of cash or cash equivalents. Sales revenue or revenues is income received from selling goods or services over a period of time. Tax revenue is income that a government receives fromtaxpayers.
- 4. BUSINESS REVENUE Business revenue is income from activities that are ordinary for a particular corporation, company, partnership, or sole-proprietorship. For some businesses, such as manufacturing and/or grocery, most revenue is from the sale of goods. Service businesses such as law firms and barber shops receive most of their revenue from rendering services. Lending businesses such as car rentals and banks receive most of their revenue from fees and interest generated by lending assets to other organizations or individuals. Revenues from a business's primary activities are reported as sales, sales revenue or net sales This includes product returns and discounts for early payment of invoices. Most businesses also have revenue that is incidental to the business's primary activities, such as interest earned on deposits in a demand account. This is included in revenue but not included in net sales.[ Sales revenue does not include salestax collectedby the business.
- 6. GOVERNMENT REVENUE Government revenue includes all amounts of money (i.e. taxes and/or fees) received from sources outside the government entity. Large governments usually have an agency or department responsible for collecting government revenue fromcompanies and individuals. Government revenue may also include reserve bank currency which is printed. This is recorded as an advance to the retail bank together with a corresponding currency in circulation expense entry. The income derives from the Official Cash rate payable by the retail banks for instruments such as 90 day bills.T here is a question as to whether using generic business based accounting standards can give a fair and accurate picture of government accounts in that with a monetary policy statement to the reserve bank directing a positive inflation rate. The expense provision for the return of currency to the reserve bank is largely symbolic in that to totally cancel the currency in circulation provision all currency wouldhave to be returned to the reserve bank and cancelled.
- 8. PROFIT MAXIMIZATION In economics, profit maximization is the (short run) process by which a firm determines the price and output level that returns the greatest profit. There are several approaches to this problem. The total revenue–total cost method relies on the fact that profit equals revenue minus cost, and the marginal revenue–marginal cost method is based on the fact that total profit in a perfectly competitive market reaches its maximum point where marginal revenue equals marginal .
- 10. PROFIT MAXIMIZATION BY MARGINAL COST An alternative argument says that for each unit sold, marginal profit (Mπ) equals marginal revenue (MR) minus marginal cost (MC). Then, if marginal revenue is greater than marginal cost, marginal profit is positive, and if marginal revenue is less than marginal cost, marginal profit is negative. When marginal revenue equals marginal cost, marginal profit is zero.[Since total profit increases when marginal profit is positive and total profit decreases when marginal profit is negative, it must reach a maximum where marginal profit is zero - or where marginal cost equals marginal revenue.
- 12. Marginal cost and revenue, depending on whether the calculus approach is taken or not, are defined as either the change in cost or revenue as each additional unit is produced, or the derivative of cost or revenue with respect to quantity output. It may also be defined as the addition to total cost or revenue as output increase by a single unit. For instance, taking the first definition, if it costs a firm 400 USD to produce 5 units and 480 USD to produce 6, the marginal cost of the sixth unit is approximately 80 dollars, although this is more accurately stated as the marginal cost of the 5.5th unit due to linear interpolation Calculus is capable of providing more accurate answers if regressionequations can be provided. Revenueis the amount of money that a company receives from itsA normal business activities, usually from the sale of goods and services (as opposed to monies from security sales such as equity shares or debt issuances). CONCLUSION