Business Aims and Financial Concepts

Front

Business aims are long-term goals.

Back

Objectives are more specific, measurable, and time-constrained steps.

Front

SMART objectives

Back

Specific, Measurable, Achievable, Realistic, Time-framed

Front

Examples of financial aims

Back

Survival, maximize or increase profit, growth, increase dividends to shareholders

Front

Examples of non-financial aims

Back

Ethical goals, customer satisfaction, personal challenge or independence

Front

Purpose of setting objectives

Back

Helps a business focus, monitor progress, and motivate employees

Front

Revenue calculation

Back

Number of items sold \times Selling price per unit

Front

Total variable cost

Back

Variable cost per item \times number sold

Front

Total costs formula

Back

Total variable cost + fixed costs

Front

Interest charged calculation

Back

Amount borrowed \times \left(\frac{interest rate}{100}\right)

Front

Break-even formula

Back

\frac{Fixed costs}{Selling price - variable cost}