Basic Business Principles

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A weblog for Small Business Consultants and the distributors who serve them. One of the world’s predominant tutorial specialists on media economics and administration and authorities communications insurance coverage policies, Picard is a senior research fellow on the Reuters Institute for the Look at of Journalism, Division of Politics and Worldwide Relations, University of Oxford, and a fellow of the Royal Society of Arts. He was previously Director of Analysis on the Reuters Institute and a evaluation fellow at Inexperienced Templeton School, Oxford, He moreover holds school posts at IESE Business College in New York, Tampere School, Finland, College of Canberra, Australia, and the Coronary heart for Media Administration and Economics, Tsinghua University, China.

Revenue is all the income a business receives in selling its products or services. Costs, also called cost of goods sold, is all the money a business spends to buy or manufacture the goods or services it sells to its customers. The Purchases account tracks goods purchased. Expenses are all the money that is spent to run the company that is not specifically related to a product or service being sold. An example of an expense account is Salaries and Wages.

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