1. Estimating Revenues, Costs & Profits
Unit 1
Topic 1.3.3

2. Lesson Objectives
Must learn: how businesses forecast sales volumes and selling prices
Should learn: how to determine fixed and variable costs
Could learn: the impact of profits and losses on a business and its owners

3. Starter
Why do businesses need to keep a check on the financial aspect of their business?
Write down as many reasons as you can possible think of……... .

4. Key Terms

5. Key Terms

6. Key Terms

7. Money in Business

8. Revenue

9. Different Sources of Revenue

10. Calculating Revenue

11. Forecasting Revenue

12. Costs

13. Running Costs

14. Total Costs

15. Example of Total Costs

16. Calculating Profit & Loss

17. Defining Profit & Loss

18. Plenary

19. Plenary

20. Homework
Explain the reasons why might a business estimate revenue, costs and profits.
Tip: consider all topics learnt in todays lesson.