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Calculations are the compass that guides business decisions such as budgeting, strategic planning and budgeting. It doesn’t matter if you’re starting your first venture or have been operating for a long time, knowing the fundamental formulas necessary for your business to thrive is imperative.
A business calculator is an electronic device that provides an easy and quick way to perform calculations on the move without the need for a smartphone or connected computer. Standard business calculators may only have one button, and a screen that is simple and more sophisticated models can include graphing or scientific features.
The break even point is the number of products or services your business must sell over the period of time to cover all its variable and fixed costs and achieve profit. This data can be used to establish sales goals, determine the prices and determine when you will make your first profits.
It is the amount that your company spends on products such as services, overhead and other items. Net income is calculated by subtracting your revenue from your expenses. This can be used to determine how much money your company actually earns at the end each day. You may be able to be able to hear this figure described as net income, net earnings, or bottom line.
The startup costs are the expenses of starting a business. This includes items such as inventory, supplies, equipment and rent. This is a useful calculation when you are seeking funding or considering potential opportunities. It also assists in determining the growth strategy of your business and ways to increase shareholder value.