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Revenue and costs
Profit and loss account
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Slide 1:
Slide
Economie
Middelbare school
vwo
Leerjaar 3
This lesson contains
13 slides
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text slides
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Lesson duration is:
45 min
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Items in this lesson
Profit and loss account
Slide 1 - Slide
Profit and loss account
The
selling costs
are highly dependent on the turnover
General costs
are not or a lot less dependent on the turnover (they are partly fixed costs) and so cannot be calculated based on the expected turnover
Slide 2 - Slide
Profit and loss account
Costs
Revenue
Purchase value of turnover €200,000
Turnover €260,000
General costs €10,000
Selling costs €25,000
Depreciation €5,000
Profit €20,000
Total €260,000
Total €260,000
Slide 3 - Slide
Profit and loss budget
Turnover
- Costs of sales
-------------------
= Gross profit
- Operating costs
-----------------------
= Net profit
Slide 4 - Slide
Balance sheet
Slide 5 - Slide
Assets - debts = equity
900 - 400 = 500
Assets
Debts
Inventory
€ 500
Equity
€ 500
Goods
€ 300
Bankloan
€ 300
Cash
€ 100
Creditors
€ 100
Total
€ 900
Total
€ 900
Slide 6 - Slide
Expenditure and costs
Expenditure = uitgave Cost = kosten
You buy a car of € 15,000. You pay cash. This is an expenditure.
It's not a cost.
Assets
Debts
Car
+ € 15,000
Cash
- € 15,000
Slide 7 - Slide
Effect of a purchase of a fixed asset
The total amount of assets doesn't change. The equity remains the same
Assets
Debts
Car
+ € 15,000
Cash
- € 15,000
Slide 8 - Slide
Example of car related costs
You have to pay insurance premium € 25 per month by bank.
This is a cost. You spend € 25 and do not get a asset in return.
Total amout of assets decreases. Equity decreases as well.
This is also an expenditure
Assets
Debts
Slide 9 - Slide
Example of car related costs
You have to pay insurance premium € 25 per month by bank.
This is a cost. You spend € 25 and do not get a asset in return.
Total amout of assets decreases. Equity decreases as well.
This is also an expenditure
Assets
Debts
Bank
- € 25
Equity
- € 25
Slide 10 - Slide
Another example of expenditure but not a cost: purchase of goods
Jimmie purchases goods (butter, lettuce) for an amount of
€ 50. He doesn't pay in cash but receives a bill
Equity is not affected. Total assets increase but debts also increase.
Assets
Debts
Slide 11 - Slide
Another example of expenditure but not a cost: purchase of goods
Jimmie purchases goods (butter, lettuce) for an amount of
€ 50. He doesn't pay in cash but receives a bill
Equity is not affected. Total assets increase but debts also increase.
Assets
Debts
Goods
+ € 50
Creditors
+ € 50
Slide 12 - Slide
What is missing here?
Costs
Revenue
Purchase value of turnover €200,000
Turnover €240,000
General costs €10,000
Selling costs €25,000
Depreciation €5,000
Total €240,000
Total €240,000
Slide 13 - Slide
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