Friday, 8 March 2013

Lesson 2 - Costs and Profit

A business can use a spreadsheet model to work out its costs and profit. 
  • Costs are what a business has to pay out for stock, wages, and rent for example.
  • Profit is the money the company makes from sales after the costs have been covered.

In today's lesson we are learning to:

  • Understand how businesses use models to predict what might happen
  • Be able to add formulae to a spreadsheet to work out costs and profit.


  1. Make a copy of Miss Philbin's Costs and Profit and calculate the costs using a formula.
  2. Next, we need to calculate the profit. 
  3. Create a new Google Doc, and write a definition for the following terms:
  • spreadsheet model
  • revenue
  • variable
  • costs
  • profit


What is VAT? Write a definition and then explain what Miss Philbin will need to pay VAT on in her shop?

No comments:

Post a Comment

Note: only a member of this blog may post a comment.