1. car insurance
2. pet insurance
3. health insurance
4. home insurance
5. travel insurance
6. pjone insurance
7. life insurance
the money you are owning to people
The formula:
trade payable/credit salesx100
items that you can touch
For example:
1. buildings
2. machinery
3. land
4. raw materials
1. credit cards
2. debit cards
3. direct direct
4. mobile banking
5. cash
6. cheques
1. unit of account
2. legal tender
3. means of exchange
4. store of value
items that you cannot touch
For example:
1. brand names
2. trademarks
3. customer loyalty
sales revenue- cost of goods sold
1. ISA- individual savings account
2. saving accounts
1. the value of the item may be higher to how much they will give you
2. they can keep your asset if not paid on time
1. they regulate credit cards purchases
2. gives you protection when getting a loan or hire agreement
3. gives you cooling period
a regular payment that you can set up to pay other people or bank accounts.
a card that allows customers to delay payments for a short period of time.
a card issued by a retailer to allows customers to delay payments.
a system that allows payment transfers from one bank account to another in 3 days
a system that allows payment from one bank account to another on the same day.
an amount borrowed from the bank and is paid with interest
a long term loan to fund the purchase of an asset
an investment product issued by NS&I. You dont earn interest.
where you lend money for interest payments
capital + retained profit
non current assets+ current assets- (current liabilities+ non current liabilities)
gross profit/ revenue X100
revenue- cost of sales
net profit/ revenue X100
gross profit/ cost of goods sold X100
profit/ capital employed X 100
current assets/ current liabilities
current assets- inventory/ current liabilities
trade receivables/ credit sales X 365
trade payables/ credit purchases X365
average inventory/ cost of goods sold X 365
opening inventory +closing inventory / 2
1. Financial Ombudsman Service
2. an organisation you can call if there are any problems with your bank
3. is free to use
4. independent
5. backed by the government
1. Financial Conduct Authority
2. they make sure any financial market works well so consumers can get a free deal
1. a mandate can be set up to remove money on a certain date- dont need to remember if need to pay.
profit/ revenue X100
gross profit/ cost of goods sold
1. cost of sales
revenue- gross profit
a card that you can use to pay for things without a bank account
a disadvantage:
1. it is not backed by the government- so no security if the card gets stolen or used
a financial organisation that helps provide savings,loans and a range of services to its consumers.
1. capital expenditure- money used from stakeholders to fix what is needed to be fixed within the business.
For example: machinery, land
2. revenue expenditure- money coming out on a day-to-day basis.
For example: wages, rent, water and more