Class notes
Basic principles of finance and selling
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Lecture notes of 2 pages for the course 2013 at Stockport College
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Task 6 Hina AsifBasic principles of finance and selling
A profit and loss account is money left over for companies after all financial
expenses have been paid that are connected with the operation of the business. An
account compiled at the end of an accounting period to show gross and net profit or
loss
Petty cash is a small account of cash on hand that is used for paying small amounts
owed, rather than writing a check.
Spread sheets are used mostly for math calculations and some basic database
functions and for creating graphs and charts. They also can be used for accounting
and budget.
Budget is a financial plan for the future. It can be used for anywhere and it’s helps
us to control our finance in our busy lifestyle. If people don’t control the budget, it will
be out of control and go down.
Net profit is an amount after sales minus of products/goods sold
Gross profit.is a full total of money a company has earned or collected, before
paying expenses.
.
These basic of principles of finance and selling have a lots of benefit as it helps to
control the business under pressure and can manage it without problem. It will help
to increase the business by selling more products while the business is going
successfully. Also the service they offer will help to get more sales in the business.
We should keep the salon eye catching and ensure it is regularly updated, kept dust
free and tidy which gets more costumers. We have to check the type of display for
the size of space available and use the dummy products if the display is open.
If we want to promote a business, we need to create a promotion that are not just
unique but cost effective as well.
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