Business Finance

For this assignment you must create a Bright Business booklet, which outlines the important financial terms Khalid will come across as he sets up and runs his business. You also need to include information on how you calculate certain figures. In your booklet, you must cover the following areas, paying particular attention to any differences between the terms in each: What are start up and running costs? What are fixed, variable and total costs? What is revenue? What is gross and net profit? Identify the difference between start up costs and operating costs, variable costs and fixed costs Identify the different types of revenue Outline the differences between gross and net profit Explain the importance of costs, revenue and profit for a business organisation