📚 SQA Business Formulas & Theorems Quick Reference Handbook | SQA商务公式定理速查手册
This handbook gathers every essential formula and key performance indicator required for SQA National 5 Business Management. By learning these relationships, you can quickly interpret financial statements, diagnose liquidity problems, and make confident break‑even calculations under exam conditions.
本手册汇集了SQA国家5级商务管理所需的所有核心公式与关键业绩指标。掌握这些数量关系，你能在考试中快速解读财务报表、诊断流动性问题，并自信地完成盈亏平衡计算。
1. Breakeven Point (Units) | 盈亏平衡点（单位产量）
The breakeven point shows the minimum number of units a business must sell to cover all costs, making zero profit and zero loss. It is one of the most frequently tested formulas in SQA Business.
盈亏平衡点表示企业覆盖全部成本、实现零利润零亏损所必须售出的最低单位数。这是SQA商务考试中考频最高的公式之一。
Fixed costs are those that do not change with output, such as rent and salaries, while variable costs change directly with each unit produced.
固定成本是不随产量变化的支出，如租金与薪金；变动成本则随每件产品的生产而直接变动。
Breakeven Point (Units) = Fixed Costs ÷ Contribution per Unit
Contribution per unit is calculated by subtracting the variable cost per unit from the selling price per unit. This figure shows how much each sale contributes towards fixed costs and profit after variable costs are covered.
单位贡献 = 单位售价 − 单位变动成本。这一数字表明每笔销售在覆盖变动成本后，能为固定成本及利润做出的贡献。
Knowing the breakeven number of units helps a business set sales targets and judge whether a new product is likely to be viable.
知晓盈亏平衡单位数有助于企业设定销售目标，并判断新产品是否具有商业可行性。
2. Contribution per Unit | 单位贡献
Contribution per unit is the building block of breakeven analysis. It must be calculated before a breakeven point can be found.
单位贡献是盈亏平衡分析的基石，必须先计算出它才能求得盈亏平衡点。
Contribution per Unit = Selling Price per Unit − Variable Cost per Unit
If a product is sold for £20 and the variable cost to make it is £8, the contribution per unit is £12. This £12 contributes to fixed costs and, once they are paid, becomes profit.
若一件产品售价为20英镑，单位变动成本为8英镑，则单位贡献为12英镑。这12英镑先用于弥补固定成本，付清固定成本后的部分即为利润。
Businesses often use this formula when deciding whether to accept a special order at a lower price, as long as the contribution remains positive.
企业在决定是否以较低价格接受特殊订单时，常使用这一公式——只要贡献仍为正值便可考虑。
3. Margin of Safety | 安全边际
Margin of safety tells the business how far sales can fall before it reaches the breakeven point. A high margin of safety reduces the risk of making a loss.
安全边际告诉企业，销售额可以下降多少才会触及盈亏平衡点。较高的安全边际能降低亏损风险。
Margin of Safety (Units) = Actual Sales Units − Breakeven Sales Units
It can also be expressed as a percentage of actual sales or in revenue terms, offering a flexible measure of risk for managers and investors.
安全边际也可用实际销售额的百分比或收入金额表示，为管理者与投资者提供灵活的风险度量。
If a company sells 5,000 units and the breakeven point is 3,500 units, the margin of safety is 1,500 units. This cushion protects the business during a sudden downturn in demand.
若一家公司售出5,000件，盈亏平衡点为3,500件，则安全边际为1,500件。这一缓冲区能在需求骤降时保护企业。
4. Gross Profit Margin | 毛利率
Gross profit margin measures the percentage of sales revenue remaining after the cost of goods sold has been deducted. It indicates how efficiently a business is producing or purchasing its products.
毛利率衡量销售扣除销货成本后剩余的收入百分比，反映企业生产或采购产品的效率。
Gross Profit Margin = (Gross Profit ÷ Sales Revenue) × 100
Gross profit itself is found by subtracting cost of sales from sales revenue. A rising gross margin suggests better control over direct costs or an ability to charge higher prices.
毛利本身是通过销售收入减去销售成本得出的。毛利率上升表明直接成本控制较好或定价能力增强。
Comparing gross margins between competitors in the same industry reveals which business has a competitive advantage in production or sourcing.
比较同行业竞争者之间的毛利率，可以揭示哪家企业在生产或采购上具备竞争优势。
5. Profit for the Year Margin (Net Profit Margin) | 年度利润率（净利润率）
Profit for the year margin takes all expenses into account, including operating costs, interest and tax. It shows the percentage of revenue that turns into final profit for shareholders.
年度利润率计入了所有费用，包括运营成本、利息和税项。它显示转化为股东最终利润的收入百分比。
Profit for the Year Margin = (Profit for the Year ÷ Sales Revenue) × 100
An increase in this margin suggests the business is managing its overheads effectively, while a decrease could signal rising fixed costs or wasteful expenditure.
该利润率上升表明企业管理间接费用的效果较好，下降则可能预示固定成本上升或支出浪费。
This is also a common measure when assessing overall financial health in an exam‑style income statement analysis.
在以考试形式分析损益表时，这也是评估整体财务健康状况的常用指标。
6. Return on Capital Employed (ROCE) | 已动用资本回报率
ROCE evaluates how efficiently a business uses its long‑term capital to generate profit. It is a fundamental ratio for comparing performance year‑on‑year or between different firms.
已动用资本回报率评估企业使用长期资本创造利润的效率。这是比较年度间或不同公司绩效的基本比率。
ROCE = (Operating Profit ÷ Capital Employed) × 100
Capital employed is the sum of shareholders' equity and long‑term liabilities, representing the money tied up in the business for the long haul.
已动用资本为股东权益与长期负债之和，代表长期投入企业的资金。
A higher ROCE than the interest rate on borrowed money suggests the business is creating value; a lower one may mean borrowing is too risky.
若ROCE高于借贷利率，说明企业正在创造价值；若低于，可能意味着借贷风险过大。
7. Current Ratio | 流动比率
The current ratio measures a firm's ability to pay short‑term debts using its current assets. It is a classic test of liquidity demanded by SQA examiners.
流动比率衡量企业用流动资产偿还短期债务的能力，是SQA考官要求的经典流动性测试。
Current Ratio = Current Assets ÷ Current Liabilities
Current assets include cash, inventory and trade receivables; current liabilities are obligations due within one year, such as overdrafts and trade payables.
流动资产包括现金、存货和应收账款；流动负债则是一年内到期的债务，如透支和应付账款。
A healthy current ratio is often between 1.5 and 2. A ratio below 1 suggests the business may struggle to meet its upcoming bills.
健康的流动比率通常在1.5到2之间。比率低于1则表示企业可能难以支付即将到期的账单。
8. Acid Test Ratio (Quick Ratio) | 酸性测试比率（速动比率）
The acid test ratio is a stricter liquidity measure because it removes inventory, which can be hard to turn into cash quickly. It gives a clearer picture of immediate liquidity.
酸性测试比率是更严格的流动性指标，因其剔除难以快速变现的存货，能更清晰地反映即时流动性。
Acid Test Ratio = (Current Assets − Inventory) ÷ Current Liabilities
If a company has current assets of £80,000, inventory of £20,000 and current liabilities of £40,000, the acid test ratio is 1.5. This means it can cover its short‑term debts 1.5 times without selling any stock.
若某企业流动资产为80,000英镑，存货20,000英镑，流动负债40,000英镑，酸性测试比率为1.5。这意味着不依赖存货销售，其短期债务也能覆盖1.5倍。
An acid test ratio significantly below 1 can be a warning sign that the business relies too heavily on selling inventory to pay bills.
酸性测试比率远低于1是警示信号，表明企业过度依赖出售存货来支付账单。
9. Rate of Inventory Turnover | 存货周转率
This ratio shows how many times a business sells and replaces its inventory over a period, usually one year. A higher turnover indicates efficient stock management.
该比率显示企业在一定时期（通常为一年）内销售并更新存货的次数。周转率高表明存货管理效率高。
Rate of Inventory Turnover = Cost of Sales ÷ Average Inventory
Average inventory is often calculated as (Opening Inventory + Closing Inventory) ÷ 2, smoothing out seasonal fluctuations.
平均存货通常按（期初存货 + 期末存货）÷ 2 计算，以平滑季节性波动。
A very low turnover rate may mean money is tied up in unsold goods, increasing storage costs and the risk of obsolescence.
周转率过低可能意味着资金积压在未售出的商品上，增加仓储成本和过时风险。
10. Trade Receivable Days (Debtor Days) | 应收账款周转天数
Trade receivable days measure the average time a business takes to collect money from credit customers. Shorter collection periods improve cash flow.
应收账款周转天数衡量企业从赊销客户收回款项的平均时间。收账期越短，现金流越佳。
Trade Receivable Days = (Trade Receivables ÷ Credit Sales) × 365
If trade receivables are £30,000 and annual credit sales are £200,000, the debtor days equal approximately 55 days. Management can then compare this with the credit terms given.
若应收账款为30,000英镑，年赊销额为200,000英镑，则债务周转天数约55天。管理层可将此与给予的信用条款进行对比。
A significant increase in debtor days may signal that customers are struggling to pay or that the firm's credit control is weak.
应收账款周转天数显著增加，可能表明客户付款困难或公司信用控制薄弱。
11. Trade Payable Days (Creditor Days) | 应付账款周转天数
Trade payable days indicate how long a business takes to pay its suppliers. A longer period can help preserve cash, but delaying too much might damage supplier relationships.
应付账款周转天数表明企业支付供应商货款所需的时间。较长的付款期有助于保留现金，但拖延过久可能损害供应商关系。
Trade Payable Days = (Trade Payables ÷ Credit Purchases) × 365
Keeping payable days slightly longer than receivable days is a common strategy to manage working capital without external borrowing.
将应付账款天数维持在略高于应收账款天数是无需外部借款即可管理营运资本的常用策略。
When creditor days extend beyond the agreed credit period, the business risks losing early settlement discounts and trust.
当应付账款天数超出约定的信用期时，企业可能失去提前付款折扣和供应商信任。
12. Labour Productivity & Absenteeism | 劳动生产率与缺勤率
Labour productivity calculates output per employee, helping managers assess workforce efficiency. Higher productivity can lead to lower unit costs.
劳动生产率计算每位员工的产出，帮助管理者评估人力效率。生产率提高可降低单位成本。
Labour Productivity = Total Output ÷ Number of Employees
Absenteeism rate measures the proportion of working days lost through absence, reflecting staff morale and management effectiveness.
缺勤率衡量因缺勤损失的工作日比例，反映员工士气和管理的有效性。
Absenteeism Rate = (Total Absent Days ÷ Total Working Days) × 100
A consistently high absenteeism rate may require investigation into working conditions, motivation methods or disciplinary policies.
缺勤率持续偏高可能需要调查工作环境、激励方法或考勤纪律政策。
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