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"Business Studies Help"

Ok, so I have nagged for help with Chemistry and physics so far, now its business studies.

I need help with a few of the accounting formulas, its nothing much and will take you about 10 minutes to help me.

Basically I need to know

-how to work out Gross and net profit,

-what total assets - total liabilities is

-Any other formulas that are likely to appear on the test.

Basically I took business studies late because I dropped French, so I am not great at it but I am intent on doing well to prove my smug little
b!tch of a french teacher wrong.

You can help by posting here or adding me on msn - [email protected]

Thanks

L337ist wrote:
> Your mocks tommorow and you didn't have any notes?
>
> For shame ;-)
>
> Who does mocks in December?

Most people do

I dont have notes because they arent important.

Your mocks tommorow and you didn't have any notes?

For shame ;-)

Who does mocks in December?

Ok cheers alot - cya

Yup

Gtg howeva.

Thankyou so much Fuzzy! You have saved me!

A balance sheet is just assets - liabilities isnt it?

-how to work out Gross and net profit

Gross profit is simply the amount of items sold times the price they cost.

Net profit is gross profit minus all expenses (wages/raw materials/rent)

-what total assets - total liabilities is

Total assets is everything the business owns/has (eg money, buildings, machinery, unsold stock). Total liabilities are all the things the business owes (people who haven't payed etc). Total assets minus total liabilities will give how much money a company has after paying all liabilties,

To get Gross Profit percentage do ... Gross profit divided by sales times 100 ... GP% is the percent of every pound that is GP. Higher the better.

To get Net Profit percentage do ... Net profit divided by sales time 100 ... NP% is the percent of every pound that is NP (which is GP - all costs). Again, higher the better.

Hope that helps.

L337ist wrote:
> Yes, but I can't remember it now.
>
> I can't believe on the whole www and in your textbook you can't find
> out about this. Is it for homework?

Its for my MOCKS! Tomorrow!

L337ist wrote:

> I'm designing a chocolate bar in bus. studies.
I did that project back when I was doing business studies, got full marks without needing to redo anything :) but that was about 6 years ago.

sadly I can't help kyzz on this subject because all my books are about 350 miles away from me :(
so to be of some kind of help
*POP this back to the top*

Yes, but I can't remember it now.

I can't believe on the whole www and in your textbook you can't find out about this. Is it for homework?

pop (theres no shame in popping, I need help!)