Business Finance, 2026 – Lecture Notes and Study
Material
Profit - ANS✔✔ The amount of money left over once the costs of that activity
have been paid for. (cost of goods and expenses) Profit is sometimes used to
measure how successful a business activity has been.
Sale Revenue (Turnover) - ANS✔✔ Quantity of goods sold multiplied by the
selling price.
Gross Profit - ANS✔✔ Sales revenue minus cost of sales.
Net Profit - ANS✔✔ Gross profit minus expenses.
Sources Of Finance - ANS✔✔ Where the businesses get money from
internally or externally and whether it's needed for the short term or long
term.
Internal Finance - ANS✔✔ Finance obtained from WITHIN the business.
External Finance - ANS✔✔ Finance obtained from OUTSIDE the business.
Interest - ANS✔✔ An amount of money which has to be paid on borrowed
money.
Profit & Loss Account - ANS✔✔ Shows how much profit a business makes
during the whole year after expenses are taken away.
Turnover - ANS✔✔ All the money coming into the business, also called 'Sales
Revenue'.
