📚 GCSE Edexcel Business: Formula Summary Handbook | GCSE Edexcel 商务：公式汇总手册
This comprehensive handbook brings together every formula you need for the GCSE Edexcel Business course. Whether you are tackling income statements, break-even analysis or liquidity ratios, mastering these equations will boost your confidence and save precious time in the exam.
这本全面的手册汇集了 GCSE Edexcel 商务课程所需的每一个公式。无论你是在处理利润表、盈亏平衡分析还是流动比率，掌握这些公式都能增强你的信心，并在考试中为你节省宝贵的时间。
Formulas matter because examiners award marks for method as well as for the final answer. A correctly structured calculation with the right units can earn full marks even if a small arithmetic slip occurs, so the goal is not just to memorise equations but to use them fluently under time pressure.
公式之所以重要，是因为考官不仅给最终答案打分，也给解题过程打分。只要结构正确、单位正确，即使出现小小的计算失误仍可能拿到满分。因此，目标不只是背下公式，而是在考试时间压力下熟练运用它们。
1. Revenue and Costs | 收入与成本
Revenue and costs are the building blocks of business finance. Understanding these formulas helps you work out a firm's total income, its cost structure and how those costs behave as output changes.
收入与成本是企业财务的基石。理解这些公式有助于你计算出企业的总收入、成本结构，以及成本随产量变化的表现方式。
Fixed costs do not change with the level of output in the short run - rent, business rates and salaried managers' pay are typical examples. Variable costs rise or fall directly with output, for example raw materials, packaging and piece-rate wages.
固定成本在短期内不随产量水平变化——租金、营业房产税和领取固定薪水的管理人员工资是典型例子。可变成本则随产量直接上升或下降，例如原材料、包装和计件工资。
| Formula | What it tells you (English / 中文) |
|---|---|
| Total Revenue = Price × Quantity | Total income from sales / 销售总收入 |
| Total Costs = Fixed Costs + Total Variable Costs | Sum of all business costs / 所有成本的总和 |
| Total Variable Costs = Variable Cost per Unit × Quantity | Costs that change with output / 随产量变化的成本 |
| Average (Unit) Cost = Total Costs ÷ Quantity | Cost of producing one unit / 生产一件产品的成本 |
Worked example: a bakery sells 4,000 loaves at £2.50 each. Fixed costs are £3,200 and the variable cost per loaf is £0.90.
示例：一家面包店以每只 2.50 英镑售出 4,000 只面包，固定成本为 3,200 英镑，每只面包的可变成本为 0.90 英镑。
Total Revenue = £2.50 × 4,000 = £10,000
Total Variable Costs = £0.90 × 4,000 = £3,600
Total Costs = £3,200 + £3,600 = £6,800
Average Cost = £6,800 ÷ 4,000 = £1.70 per loaf
Notice that average cost falls as output rises, because the fixed costs are spread over more units. This is the key idea behind economies of scale and it appears regularly in 6-mark and 9-mark evaluation questions.
注意，随着产量上升，平均成本会下降，因为固定成本被分摊到更多单位上。这正是规模经济背后的核心思想，也常常出现在 6 分和 9 分的论述题中。
2. Profit and Profit Margins | 利润与利润率
Profit measures the difference between revenue and costs. Margins express profit as a percentage of sales, showing how efficiently a business turns sales into earnings.
利润衡量的是收入与成本之间的差额。利润率将利润表示为销售额的百分比，显示了企业将销售额转化为盈利的效率。
The income statement (profit and loss account) moves down in stages: revenue, then cost of sales, then gross profit, then expenses, then net profit. Knowing the order helps you decide which formula to apply.
利润表（损益表）是分层递进的：收入、销售成本、毛利润、各项费用、净利润。记住这个顺序能帮助你判断该使用哪个公式。
| Formula | What it tells you (English / 中文) |
|---|---|
| Gross Profit = Sales Revenue − Cost of Sales | Profit before other expenses / 扣除其他费用前的利润 |
| Gross Profit Margin = (Gross Profit ÷ Sales Revenue) × 100 | % of revenue kept as gross profit / 销售收入中留存为毛利的百分比 |
| Net Profit = Gross Profit − Other Operating Expenses and Interest | Final profit after all costs / 扣除所有成本后的最终利润 |
| Net Profit Margin = (Net Profit ÷ Sales Revenue) × 100 | % of revenue that becomes net profit / 销售收入变为净利润的百分比 |
Worked example: a clothing retailer has sales revenue of £250,000, cost of sales of £140,000 and operating expenses plus interest of £68,000.
示例：一家服装零售商销售收入为 250,000 英镑，销售成本为 140,000 英镑，营业费用加利息为 68,000 英镑。
Gross Profit = £250,000 − £140,000 = £110,000
Gross Profit Margin = (£110,000 ÷ £250,000) × 100 = 44%
Net Profit = £110,000 − £68,000 = £42,000
Net Profit Margin = (£42,000 ÷ £250,000) × 100 = 16.8%
Always check the gap between the two margins. A large gap suggests high overheads or heavy interest payments, which is a strong point for an evaluation paragraph.
务必比较两个利润率之间的差距。差距大说明间接费用高或利息负担重，这是论述段落中很有力的论点。
3. Break-even Analysis | 盈亏平衡分析
Break-even analysis identifies the sales level at which a business covers all its costs. Contribution per unit is the key to finding that point, because each sale first contributes towards fixed costs and only then generates profit.
盈亏平衡分析确定了企业刚好覆盖所有成本的销售水平。单位贡献是找到这一平衡点的关键，因为每一笔销售首先用于抵补固定成本，之后才产生利润。
| Formula | What it tells you (English / 中文) |
|---|---|
| Contribution per Unit = Selling Price − Variable Cost per Unit | Money each sale adds towards fixed costs / 每笔销售用于抵补固定成本的金额 |
| Break-even Output = Fixed Costs ÷ Contribution per Unit | Units needed to cover all costs / 覆盖全部成本所需的销量 |
| Break-even Revenue = Break-even Output × Selling Price | Sales value at break-even / 盈亏平衡时的销售额 |
| Total Contribution = Contribution per Unit × Output | Total sum available to pay fixed costs / 可用于支付固定成本的总额 |
| Profit = Total Contribution − Fixed Costs | Profit at any given output level / 任一产量水平下的利润 |
| Margin of Safety = Actual Output − Break-even Output | Buffer before losses begin / 开始亏损前的安全缓冲 |
Worked example: a firm sells its product for £12, variable cost per unit is £5 and fixed costs are £4,200 per month. Actual monthly output is 850 units.
示例：某企业产品售价 12 英镑，单位可变成本 5 英镑，每月固定成本 4,200 英镑，实际月产量为 850 件。
Contribution per Unit = £12 − £5 = £7
Break-even Output = £4,200 ÷ £7 = 600 units
Break-even Revenue = 600 × £12 = £7,200
Margin of Safety = 850 − 600 = 250 units
Profit = (850 × £7) − £4,200 = £5,950 − £4,200 = £1,750
Remember that a break-even chart is simply these formulas drawn to scale: the total revenue line and the total cost line cross at the break-even point, and the vertical distance between them is the margin of safety.
请记住，盈亏平衡图其实就是把这些公式按比例画出来：总收入线与总成本线相交处即为盈亏平衡点，两者之间的垂直距离就是安全边际。
4. Cash Flow and Working Capital | 现金流与营运资金
Profit is not the same as cash. A profitable business can still fail if cash runs out, which is why cash-flow forecasting is examined so frequently.
利润并不等于现金。一家盈利的企业仍可能因现金耗尽而倒闭，因此现金流预测才会如此频繁地被考查。
Net cash flow is the simple difference between money coming in and money going out during a period. The closing balance then carries forward to become the opening balance of the next period.
净现金流就是某一期间现金流入与现金流出的简单差额。期末余额随后会被结转为下一期的期初余额。
| Formula | What it tells you (English / 中文) |
|---|---|
| Net Cash Flow = Total Cash Inflows − Total Cash Outflows | Cash gained or lost in the period / 该期间现金的增减 |
| Closing Balance = Opening Balance + Net Cash Flow | Cash held at the end of the month / 月末持有的现金 |
| Working Capital = Current Assets − Current Liabilities | Short-term funds available for day-to-day operations / 可用于日常经营的短期资金 |
Worked example: a business starts March with £15,000 in the bank, expects inflows of £42,000 and outflows of £38,500.
示例：某企业 3 月初银行存款为 15,000 英镑，预计流入 42,000 英镑，流出 38,500 英镑。
Net Cash Flow = £42,000 − £38,500 = £3,500
Closing Balance = £15,000 + £3,500 = £18,500
A negative closing balance does not mean the business is unprofitable; it means it needs an overdraft, a delay in payments or better credit control to survive the month.
期末余额为负并不代表企业不盈利，而是说明它需要透支额度、延期付款或更好的信用管理才能撑过这个月。
5. Liquidity Ratios | 流动比率
Liquidity ratios test whether a business can pay its short-term debts as they fall due. They are the standard tool for assessing financial stability in the exam.
流动比率用于检验企业能否在短期债务到期时予以偿还。它们是考试中评估财务稳定性的标准工具。
Inventories are excluded from the acid test because stock may be difficult to sell quickly at full value. This is why the acid test is sometimes called the quick ratio.
速动比率把存货排除在外，因为存货可能难以按全价迅速出售。这也是速动比率又被称为"酸性测试"的原因。
| Formula | What it tells you (English / 中文) |
|---|---|
| Current Ratio = Current Assets ÷ Current Liabilities | Ability to meet short-term debts / 偿还短期债务的能力 |
| Acid Test = (Current Assets − Inventory) ÷ Current Liabilities | Stricter liquidity test without stock / 剔除存货后更严格的流动性检验 |
Worked example: current assets are £86,000 including £34,000 of inventory, and current liabilities are £43,000.
示例：流动资产为 86,000 英镑，其中存货 34,000 英镑，流动负债为 43,000 英镑。
Current Ratio = £86,000 ÷ £43,000 = 2 : 1
Acid Test = (£86,000 − £34,000) ÷ £43,000 = 1.21 : 1
A current ratio of 2:1 is often described as healthy, but too high a figure can mean idle cash or excessive stock. A result below 1:1 signals potential liquidity problems.
流动比率为 2:1 通常被视为健康水平，但过高可能意味着现金闲置或存货过多。低于 1:1 则预示可能存在流动性问题。
6. Profitability and Efficiency | 盈利能力与效率
Return on capital employed (ROCE) shows how much profit a business generates for every pound invested in it. It allows fair comparisons between firms of very different sizes.
资本回报率（ROCE）显示企业每投入一英镑能带来多少利润。它使规模差异很大的企业之间也能进行公平比较。
Capital employed can be calculated in two equivalent ways, so use whichever set of figures the question gives you.
资本占用额有两种等价的算法，因此你可以根据题目给出的数据灵活选用。
| Formula | What it tells you (English / 中文) |
|---|---|
| ROCE = (Net Profit ÷ Capital Employed) × 100 | Profit earned per pound invested / 每英镑投入赚取的利润 |
| Capital Employed = Total Equity + Non-current Liabilities | Long-term funds in the business / 企业长期资金总额 |
| Net Assets = Total Assets − Total Liabilities | Net worth of the business / 企业的净值 |
Worked example: net profit is £48,000 and capital employed is £320,000.
示例：净利润为 48,000 英镑，资本占用额为 320,000 英镑。
ROCE = (£48,000 ÷ £320,000) × 100 = 15%
To judge whether 15% is good, compare it with the interest rate on savings or with the ROCE of rival firms. A figure lower than the bank rate suggests the money would earn more elsewhere.
要判断 15% 是否算好，可以与存款利率或竞争对手的 ROCE 作比较。若低于银行利率，说明这笔钱放在别处可能收益更高。
7. Investment Appraisal | 投资评估
Investment appraisal compares the cost of a project with the returns it is expected to generate. The two techniques required at GCSE are payback and average rate of return.
投资评估将项目的成本与其预期带来的回报进行比较。GCSE 要求掌握的两种方法分别是回收期法和平均回报率法。
| Formula | What it tells you (English / 中文) |
|---|---|
| Average Annual Profit = Total Profit ÷ Number of Years | Yearly profit from the project / 项目每年的平均利润 |
| ARR = (Average Annual Profit ÷ Initial Investment) × 100 | Annual % return on the money spent / 每年投入资金的回报百分比 |
| Payback = Years Before Full Recovery + (Amount Still Owed ÷ Cash Flow in That Year) | Time to recover the investment / 收回投资所需的时间 |
Worked example: a machine costs £120,000 and generates total profit of £64,000 over four years. Cash inflows are £35,000, £40,000 and £50,000 in years 1 to 3.
示例：一台机器成本 120,000 英镑，四年共产生利润 64,000 英镑。第 1 至第 3 年现金流入分别为 35,000、40,000 和 50,000 英镑。
Average Annual Profit = £64,000 ÷ 4 = £16,000
ARR = (£16,000 ÷ £120,000) × 100 = 13.3%
Payback = 2 years + (£120,000 − £75,000) ÷ £50,000 = 2.9 years
Payback is quick and easy but ignores what happens after the money is recovered. ARR considers the whole project but ignores the timing of cash flows and the effect of inflation.
回收期法简单快捷，但忽略了资金收回之后的情况。ARR 考虑了整个项目，却忽略了现金流的时间分布和通货膨胀的影响。
8. Market Share, Growth and Size | 市场份额、增长与规模
These percentage-change formulas appear in almost every paper, usually attached to a table of market data.
这些百分比变化公式几乎出现在每一份试卷中，通常与市场数据表格一起出现。
