What is the Circular Flow Model? Definition: The circular flow model is a term used to describe how products and money move in an economy. Since civilized societies experience an endless flow of money on a daily basis, the circulation covers the flow of goods and services from producers to households or consumers in exchange
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What is the Contribution Margin Income Statement? Definition: A contribution margin income statement is applicable when calculating the variable expenses of a company, which, more often than not, originate from sales. Thus, it becomes an income statement showcasing net profit or net loss for the period and must be in line with a certain status
What is the Cost Function Formula? Definition: The cost function formula calculates the total fixed and variable costs that are required to produce a product. Management uses this formula to analysis whether production of product should stop or continue. To know whether it is making profit or losses, it necessary that a business or company
What is a Conversion Cost? Definition: Conversion costs are any expenses or outlays of cash that was used to transform a raw material into a finished good. In the world of business, the use of direct labor and factory overhead costs is very common. It is what is primarily referred to as conversion costs. It
What is Contributed Capital? Definition: Contributed capital is the total amount of funds that a company receives from its investors; part is recorded as par value stock while the other part is recorded as Paid In Capital. Have you ever wondered how do investors retain their shareholding or ownership as company partners? It is through
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What is the Budgeted Balance Sheet? Definition: A budgeted balance sheet is a financial accounting statement that shows the expected value of assets, liabilities as well as equity over a given period. In other words, the statement tries to show where all accounts in a business or a company will be after a given accounting
What Is Cash Budget? Definition: A cash budget is a record potential cash inflows and outflows for a period, so management can predict future cash flow needs. Every project or business must use a cash project, which serves as one of the primary determinants for success. The cash budget offers an evaluation of cash inflows