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= Accounting for a New Business 2 = Teacher: Heli Kortesalmi Type of course: [[:Category:Mandatory courses in GloBBA|Mandatory course in GloBBA]] Course code: N/A Part of: ? Course material: ? Topics covered: * [[w:Forecasting]] [[w:revenue]]s, [[w:sales]] [[w:budgeting]] * [[w:Pricing]] of products and services * Estimation of [[w:operational costs]] * [[w:Profitability]], feasible [[w:business plan]] * Required [[w:investments]] and [[w:working capital]] * [[w:Bank loan]]s and other [[w:financial instruments]] * Annual percentage rate of charge for [[w:loans]] and [[w:credits]] == Accounting for a New Business 2 - Lesson 1 - Financial flows == * '''[[w:cost-volume-profit analysis]]''' ::in managerial economics, is a form of cost accounting. It is a simplified model, useful for elementary instruction and for short-run decisions. ( Wikipedia ) * '''[[w:Contribution margin]]''' ( [[w:fi:Katetuottolaskenta]] ) ::In [[w:cost-volume-profit analysis]], a form of [[w:management accounting]], '''contribution margin''' is the marginal profit per unit sale. It is a useful quantity in carrying out various calculations, and can be used as a measure of [[w:operating leverage]]. Typically, high contribution margins are prevalent in the labour-intensive tertiary sector while low contribution margins are prevalent in the capital-intensive industrial sector.n ( Wikipedia ) * '''[[w:Break-even]]''' (or break even) is the point of balance between making either a profit or a loss. The term originates in finance, but the concept has been applied widely since. ( Wikipedia ) * '''[[w:Margin_of_safety_(accounting)#Margin_of_Safety|Margin of safety]]''' represents the strength of the business. It enables a business to know what is the exact amount it has gained or lost and whether they are over or below the break even point. ( Wikipedia ) * '''[[w:Operating leverage]]''' ( [[w:fi:Velkavipu]] ) is a measure of how revenue growth translates into growth in operating income. Leverage, and of how risky (volatile) a company's operating income is. ( Wikipedia ) ::Homework: ex. 4,5,6,7 == Accounting for a New Business 2 - Lesson 2 == == Accounting for a New Business 2 - Lesson 3 - Pricing and costing == * '''[[w:Pricing]]''' :: Long-run vs. short-run pricing approaches *'''[[w:Target costing]]''' or '''target pricing''' is a [[w:pricing]] method used by firms. It is defined as "a cost management tool for reducing the overall cost of a product over its entire [[w:Product lifecycle (engineering)|life-cycle]] with the help of production, engineering, research and design". A target cost is the maximum amount of cost that can be incurred on a product and with it the firm can still earn the required [[w:profit margin]] from that product at a particular selling price. ( Wikipedia ) *'''[[w:Cost-plus pricing]]''' is a pricing method used by companies to maximize their rate of returns. ( Wikipedia ) == Accounting for a New Business 2 - Lesson 4 - Business metrics == * '''[[w:Operating leverage]]''' is a measure of how revenue growth translates into growth in '''[[w:operating income]]'''. '''[[w:Leverage (finance)|Leverage]]''', and of how risky (volatile) a company's operating income is. * The '''[[w:current ratio]]''' is a [[w:financial ratio]] that measures whether or not a firm has enough resources to pay its debts over the next 12 months. It compares a firm's [[w:current asset]]s to its [[w:current liabilities]]. ( Wikipedia ) * The '''Acid-test''' or '''[[w:quick ratio]]''' or '''liquid ratio''' ( [[w:fi: Maksuvalmiussuhde]] ) measures the ability of a company to use its ''near cash'' or quick assets to extinguish or retire its [[w:current liability|current liabilities]] immediately. Quick assets include those [[w:current asset]]s that presumably can be quickly converted to cash at close to their [[w:book value]]s. ( Wikipedia ) * '''[[w:Return on investment]]''' ('''ROI''') is the concept of an [[w:investment]] of some resource yielding a benefit to the investor. As a performance measure, it is used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments. ( Wikipedia ) == Accounting for a New Business 2 - Lesson 5 == ----
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