5.3. Profit and loss
- Syllabus
- 0264–2027–2028
- Topic
- 5.3
- Level
- —
5.3.1—What is profit and why it is important
- what profit is
- importance of profit to private sector businesses: reward for risk-taking, source of finance, measure of success, attract investors
5.3.2—Statement of profit or loss
- main features of a statement of profit or loss: revenue, cost of sales, gross profit, expenses, profit
- make simple calculations based on a statement of profit or loss: revenue, cost of sales, gross profit, expenses, profit
- make decisions based on simple statements of profit or loss Note: candidates will not be assessed on constructing statements of profit or loss.
Objective notes
2 learning objectivesConceptIGCSE Business Studies