📚 IGCSE WJEC Business Studies Formula Handbook | IGCSE WJEC 商务：公式汇总手册
Mastering the key formulas is essential for success in IGCSE WJEC Business Studies. This handbook compiles every critical equation you need for quantitative analysis, from calculating profit and break-even to interpreting financial ratios. Use it as a quick reference and a revision tool to ensure you can apply these formulas accurately in exams.
掌握关键公式是 IGCSE WJEC 商务课程取得成功的必要条件。本手册汇总了您进行定量分析所需的每一个重要公式，从计算利润和盈亏平衡点到解读财务比率。请将其作为快速参考和复习工具，确保您在考试中能够准确应用这些公式。
1. Revenue, Costs and Profit | 收入、成本与利润
Revenue is the total income generated from selling goods or services. It does not deduct any costs.
收入是指通过销售商品或服务产生的总收入。它不扣除任何成本。
Revenue = Selling Price per Unit × Quantity Sold
收入 = 单位售价 × 销售数量
Total costs combine fixed costs (which do not vary with output) and variable costs (which change directly with output).
总成本包括固定成本（不随产量变化）和可变成本（随产量直接变化）。
Total Costs = Fixed Costs + Total Variable Costs
总成本 = 固定成本 + 总可变成本
Total variable costs can be found by multiplying the variable cost per unit by the number of units produced.
总可变成本可以通过单位可变成本乘以生产的单位数量来计算。
Total Variable Costs = Variable Cost per Unit × Output
总可变成本 = 单位可变成本 × 产量
Profit is the positive difference between total revenue and total costs. A loss occurs when costs exceed revenue.
利润是总收入与总成本之间的正差额。当成本超过收入时会发生亏损。
Profit = Total Revenue – Total Costs
利润 = 总收入 – 总成本
Profit can also be calculated per unit.
利润也可以按单位计算。
Profit per Unit = Selling Price per Unit – Cost per Unit
单位利润 = 单位售价 – 单位成本
2. Profit Margins | 利润率
Gross profit margin measures the percentage of revenue left after paying for direct costs (cost of sales). It reflects how efficiently a business manages its production or purchasing.
毛利率衡量在支付直接成本（销售成本）后剩余的收入的百分比。它反映企业管理生产或采购的效率。
Gross Profit = Revenue – Cost of Sales
毛利润 = 收入 – 销售成本
Gross Profit Margin (%) = (Gross Profit / Revenue) × 100
毛利率(%) = (毛利润 / 收入) × 100
Net profit margin considers all expenses, including overheads, interest and tax. It shows the final profitability of the business.
净利润率考虑所有费用，包括间接费用、利息和税款。它显示企业的最终盈利能力。
Net Profit = Gross Profit – Expenses
净利润 = 毛利润 – 费用
Net Profit Margin (%) = (Net Profit / Revenue) × 100
净利润率(%) = (净利润 / 收入) × 100
Remember that 'expenses' include all operating costs, interest payments and taxes. In some contexts you may be given operating profit, which excludes interest and tax.
请记住，“费用”包括所有运营成本、利息支付和税款。在某些情况下，您可能会得到营业利润，它不包括利息和税款。
3. Break-Even Analysis | 盈亏平衡分析
Break-even is the level of output where total revenue exactly equals total costs, resulting in neither profit nor loss.
盈亏平衡点是指总收入恰好等于总成本，从而既无利润也无亏损的产出水平。
Break-Even Point (units) = Fixed Costs / (Selling Price per Unit – Variable Cost per Unit)
盈亏平衡点（单位） = 固定成本 / （单位售价 – 单位可变成本）
The denominator (Selling Price per Unit – Variable Cost per Unit) is known as the contribution per unit.
分母（单位售价 – 单位可变成本）被称为单位边际贡献。
Contribution per Unit = Selling Price per Unit – Variable Cost per Unit
单位边际贡献 = 单位售价 – 单位可变成本
Total contribution shows how much money is available to cover fixed costs and then generate profit.
总边际贡献显示有多少资金可用于覆盖固定成本，然后产生利润。
Total Contribution = (Selling Price per Unit – Variable Cost per Unit) × Output
总边际贡献 = （单位售价 – 单位可变成本） × 产量
Alternatively, total contribution equals total revenue minus total variable costs.
或者，总边际贡献等于总收入减去总可变成本。
You can also find the break-even point in terms of revenue if required.
如果需要，您也可以计算以收入表示的盈亏平衡点。
Break-Even Revenue = Break-Even Output × Selling Price per Unit
盈亏平衡收入 = 盈亏平衡产量 × 单位售价
The margin of safety indicates how much sales can fall before the business reaches the break-even point.
安全边际表示在达到盈亏平衡点之前销售额可以下降多少。
Margin of Safety (units) = Actual Output – Break-Even Output
安全边际（单位） = 实际产量 – 盈亏平衡产量
4. Cash Flow Forecasting | 现金流预测
A cash flow forecast predicts the inflows and outflows of cash over a period. The key calculation is the net cash flow and the closing balance.
现金流预测是预测一段时间内现金的流入和流出。关键计算是净现金流和期末余额。
Net Cash Flow = Total Cash Inflows – Total Cash Outflows
净现金流 = 总现金流入 – 总现金流出
Closing Balance = Opening Balance + Net Cash Flow
期末余额 = 期初余额 + 净现金流
Note that the closing balance of one period becomes the opening balance of the next period.
请注意，一个期间的期末余额成为下一个期间的期初余额。
5. Average Rate of Return (ARR) | 平均收益率 (ARR)
ARR assesses the profitability of an investment by comparing the average annual profit to the initial investment cost. It is expressed as a percentage.
ARR 通过比较平均年利润与初始投资成本来评估投资的盈利能力。它以百分比表示。
Average Annual Profit = Total Profit over the Project's Life / Number of Years
平均年利润 = 项目寿命期内的总利润 / 年数
Be careful: sometimes the question provides total net cash flows rather than profit. You may need to deduct the initial cost from total net cash inflows to get total profit.
请注意：有时题目提供的是总净现金流而不是利润。您可能需要从总净现金流入中扣除初始成本来获得总利润。
ARR (%) = (Average Annual Profit / Initial Investment) × 100
ARR (%) = (平均年利润 / 初始投资) × 100
6. Working Capital and Liquidity | 营运资本与流动性
Working capital measures the short-term financial health of a business by comparing current assets to current liabilities.
营运资本通过比较流动资产与流动负债来衡量企业的短期财务健康状况。
Working Capital = Current Assets – Current Liabilities
营运资本 = 流动资产 – 流动负债
Sometimes called net current assets, a positive figure is essential for day-to-day operations.
营运资本有时也称为净流动资产，正数对于日常运营至关重要。
The current ratio provides a relative measure of liquidity, showing how many times current assets cover current liabilities.
流动比率提供了一种相对的流动性衡量指标，显示流动资产覆盖流动负债的倍数。
Current Ratio = Current Assets / Current Liabilities
流动比率 = 流动资产 / 流动负债
A ratio of between 1.5 and 2.0 is often considered healthy, though this depends on the industry.
通常认为 1.5 至 2.0 之间的比率是健康的，尽管这取决于行业。
The acid test ratio (or quick ratio) is a stricter measure because it excludes inventory, which is not always quickly convertible to cash.
酸性测试比率（或速动比率）是一个更严格的衡量指标，因为它排除了存货，而存货并不总是能快速变现。
Acid Test Ratio = (Current Assets – Inventory) / Current Liabilities
酸性测试比率 = (流动资产 – 存货) / 流动负债
7. Efficiency Ratios: Inventory Turnover | 效率比率：存货周转率
Inventory turnover measures how many times a business sells and replaces its inventory in a given period. It is also expressed as the average number of days to sell inventory.
存货周转率衡量企业在一个给定期间内销售和补充库存的次数。它也可以用平均存货销售天数来表示。
Inventory Turnover (times) = Cost of Sales / Average Inventory
存货周转率（次数） = 销售成本 / 平均存货
If average inventory is not directly given, you can estimate it using (Opening Inventory + Closing Inventory) / 2.
如果没有直接给出平均存货，您可以使用（期初存货 + 期末存货）/ 2 来估算。
To find how many days on average inventory is held:
要计算存货平均持有天数：
Average Inventory Days = (Average Inventory / Cost of Sales) × 365
平均存货天数 = (平均存货 / 销售成本) × 365
8. Labour and Employee Performance | 劳动与员工绩效
Labour productivity measures the output per employee, indicating how efficiently a workforce is operating.
劳动生产率衡量每位员工的产出，表明劳动力运作的效率。
Labour Productivity = Total Output / Number of Employees
劳动生产率 = 总产出 / 员工人数
Labour turnover shows the rate at which employees leave an organisation and need to be replaced.
员工流动率显示员工离开组织并需要被替换的速率。
Labour Turnover (%) = (Number of Staff Leaving / Average Number of Staff) × 100
员工流动率(%) = (离职员工人数 / 平均员工人数) × 100
Absenteeism rate measures the proportion of working days lost due to absence.
缺勤率衡量由于缺勤而损失的工作日的比例。
Absenteeism (%) = (Number of Days Absent / Total Possible Working Days) × 100
缺勤率(%) = (缺勤天数 / 可能的总工作日数) × 100
9. Market Share and Growth | 市场份额与增长
Market share indicates a business's sales as a proportion of the total market sales. It is a key measure of competitiveness.
市场份额表示企业销售额占市场总销售额的比例。它是衡量竞争力的关键指标。
Market Share (%) = (Business Sales / Total Market Sales) × 100
市场份额(%) = (企业销售额 / 市场总销售额) × 100
Market growth shows how the total market size changes over time.
市场增长显示市场总规模随时间的变化情况。
Market Growth (%) = ((Market Size This Year – Market Size Last Year) / Market Size Last Year) × 100
市场增长率(%) = ((今年市场规模 – 去年市场规模) / 去年市场规模) × 100
Sales growth can be calculated similarly for a single business.
单个企业的销售增长可以类似地计算。
Sales Growth (%) = ((Sales This Year – Sales Last Year) / Sales Last Year) × 100
销售增长率(%) = ((今年销售额 – 去年销售额) / 去年销售额) × 100
10. Exchange Rate Conversions | 汇率换算
Businesses trading internationally must convert currencies. The formula depends on the direction of conversion.
进行国际贸易的企业必须进行货币换算。公式取决于换算方向。
To convert from one currency to another, multiply by the exchange rate if the rate is given as 'amount of foreign currency per one unit of home currency' (direct quote).
要将一种货币换算成另一种货币，如果汇率以“每单位本国货币兑多少外国货币”（直接标价）给出，则乘以汇率。
Amount in Foreign Currency = Amount in Home Currency × Exchange Rate (Foreign/Home)
外币金额 = 本币金额 × 汇率（外币/本币）
If the rate is given as 'amount of home currency per unit of foreign currency', divide instead.
如果汇率以“每单位外国货币兑多少本币”给出，则用除法。
Amount in Home Currency = Amount in Foreign Currency / Exchange Rate (Home/Foreign)
本币金额 = 外币金额 / 汇率（本币/外币）
Always check the format of the exchange rate in the question to avoid confusion.
务必检查题目中汇率的格式，以避免混淆。
11. Percentage Changes and Index Numbers | 百分比变化与指数
Calculating percentage changes is fundamental for comparing data over time, such as changes in revenue, costs, or market size.
计算百分比变化是比较不同时期数据（如收入、成本或市场规模的变化）的基础。
Percentage Change = ((New Value – Old Value) / Old Value) × 100
百分比变化 = ((新值 – 旧值) / 旧值) × 100
Index numbers simplify comparisons. A base year is chosen and set to 100.
指数简化了比较。选择一个基年并将其设为 100。
Index Number = (Value in Current Period / Value in Base Period) × 100
指数 = (当前期间的值 / 基期的值) × 100
12. Final Exam Tips for Formula Application | 公式应用考试技巧
Always show your working clearly. Write down the formula first, substitute the numbers, and then calculate the final answer. This earns method marks even if the arithmetic slips.
始终清晰地展示你的计算步骤。先写下公式，代入数字，然后计算最终答案。这样即使算术出错，也能获得方法分。
Check whether the answer requires a unit (e.g., £, %, units, employees). Include the unit in your final answer. For margin and share formulas, remember to multiply by 100 to get a percentage.
检查答案是否需要单位（例如，£、%、个、员工）。在最终答案中包含单位。对于利润率和份额公式，请记住乘以 100 以获得百分比。
In break-even questions, always distinguish between quantity (units) and revenue (£). Contributions help with decision-making: a product is worth selling if it makes a positive contribution, even if the business is making an overall loss in the short run.
在盈亏平衡问题中，务必区分数量（单位）和收入（£）。边际贡献有助于决策：只要产品具有正面的边际贡献，即使企业短期内整体亏损，也值得继续销售。
Be prepared to rearrange formulas. For instance, you may need to find the selling price given break-even output and costs. Practice algebraically manipulating the formulas until you are comfortable.
准备好重新排列公式。例如，您可能需要根据盈亏平衡产量和成本来推算售价。练习代数地变换公式，直到熟练为止。
Finally, use estimation to check your answers. If an ARR is over 50% or a margin of safety looks unrealistically high, re-check your calculations.
最后，运用估算来检查你的答案。如果 ARR 超过 50%，或者安全边际显得不切实际地高，请重新检查你的计算。
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