Income statements (AQA GCSE Business): Flashcards
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Practise the cards
13 cards from this deck
Income statement
Income statement
Financial document showing business performance over a period (typically one year)
Income statement metaphor
Income statement metaphor
Financial report card
Revenue
Revenue
Total value of sales made to customers
Revenue's other name
Revenue's other name
Top line
Revenue vs profit
Revenue vs profit
Revenue is total sales; profit is after deducting costs
Cost of sales
Cost of sales
Direct costs of producing goods/services sold
Gross profit formula
Gross profit formula
Revenue - Cost of Sales
Net profit formula
Net profit formula
Gross Profit - Operating Expenses
Profit before tax formula
Profit before tax formula
Net Profit ± Finance Expenses/Income
Profit after tax formula
Profit after tax formula
Profit Before Tax - Tax
Finance expenses
Finance expenses
Cost of borrowing money (e.g., interest on loans)
Overheads (alternative term)
Overheads (alternative term)
Distribution and administration expenses
Uses of profit after tax
Uses of profit after tax
Retained in business or distributed as dividends