IGCSE CIE Business: Formula Handbook | IGCSE CIE 商务：公式汇总手册

📚 IGCSE CIE Business: Formula Handbook | IGCSE CIE 商务：公式汇总手册

This comprehensive handbook brings together all the essential formulas you need for the IGCSE CIE Business Studies examination. From revenue and cost calculations to profitability ratios, break‑even analysis, and investment appraisal, each formula is presented with a clear explanation of its meaning and application. Mastering these formulas is crucial for tackling calculation questions and analysing business performance in both Paper 1 and Paper 2.

本手册汇总了 IGCSE CIE 商务考试中所有必备公式。从收入与成本计算到盈利能力比率、盈亏平衡分析以及投资评估，每个公式都配以清晰的说明，解释其含义和应用。掌握这些公式对于解答计算题以及分析企业绩效至关重要，无论是试卷一还是试卷二都会用到。

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1. Revenue, Costs and Profit | 收入、成本与利润

Revenue is the total income a business receives from selling its goods or services. It is calculated by multiplying the selling price per unit by the quantity sold. Costs are divided into fixed costs (which do not change with output) and variable costs (which vary directly with output). Profit is the surplus left after all costs are deducted from revenue.

收入是企业通过销售商品或服务获得的总收入，计算方法为每单位售价乘以销售数量。成本分为固定成本（不随产量变化）和可变成本（随产量直接变化）。利润是从收入中扣除所有成本后的盈余。

Total Revenue = Selling Price × Quantity Sold

总收入 = 售价 × 销售数量

Total costs are the sum of fixed costs and total variable costs. Total variable costs equal variable cost per unit multiplied by quantity produced.

总成本是固定成本与总可变成本之和。总可变成本等于单位可变成本乘以生产数量。

Total Costs = Fixed Costs + (Variable Cost per Unit × Quantity)

总成本 = 固定成本 + (单位可变成本 × 数量)

Profit can be calculated as total revenue minus total costs. This is often called gross profit if only direct costs are considered, but in general formula terms it is the net profit.

利润可以用总收入减总成本计算。如果只考虑直接成本，这通常称为毛利润，但在一般公式中它代表净利润。

Profit = Total Revenue – Total Costs

利润 = 总收入 – 总成本

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2. Break-even Analysis | 盈亏平衡分析

Break-even analysis helps a business determine the level of output at which total revenue equals total costs, meaning the business makes neither a profit nor a loss. The break-even point (BEP) can be expressed in units or in sales revenue. The contribution per unit is the selling price minus variable cost per unit.

盈亏平衡分析帮助企业确定总收入等于总成本时的产量水平，即企业既不盈利也不亏损的状态。盈亏平衡点可以用单位数量或销售收入表示。单位贡献为售价减去单位可变成本。

Contribution per Unit = Selling Price – Variable Cost per Unit

单位贡献 = 售价 – 单位可变成本

The break-even point in units is found by dividing total fixed costs by the contribution per unit. For break-even point in sales revenue, you multiply the break-even units by the selling price, or use the contribution margin ratio.

计算单位盈亏平衡点的方法是总固定成本除以单位贡献。要计算销售收入盈亏平衡点，可将盈亏平衡单位数乘以售价，或使用贡献毛利率。

Break-even Output (units) = Fixed Costs ÷ Contribution per Unit

盈亏平衡产量（单位）= 固定成本 ÷ 单位贡献

Break-even Sales Revenue = Break-even Output × Selling Price

盈亏平衡销售收入 = 盈亏平衡产量 × 售价

The margin of safety indicates how much sales can fall before the business reaches break-even. It is the difference between actual output and break-even output, often expressed as a percentage of actual output.

安全边际表明在达到盈亏平衡点之前销售额可以下降多少。它是实际产量与盈亏平衡产量之差，通常以实际产量的百分比表示。

Margin of Safety = Actual Output – Break-even Output

安全边际 = 实际产量 – 盈亏平衡产量

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3. Profitability Ratios | 盈利能力比率

Profitability ratios measure how successfully a business is generating profit from its operations. Gross profit margin shows the percentage of revenue that becomes gross profit, reflecting the efficiency of production and pricing. Net profit margin considers all expenses and is a key indicator of overall profitability.

盈利能力比率衡量企业从经营中创造利润的成功程度。毛利率显示收入中转化为毛利润的百分比，反映生产和定价效率。净利润率考虑了所有费用，是整体盈利能力的关键指标。

Gross Profit Margin = (Gross Profit ÷ Revenue) × 100

毛利率 = (毛利润 ÷ 收入) × 100

Net Profit Margin = (Net Profit ÷ Revenue) × 100

净利润率 = (净利润 ÷ 收入) × 100

Return on capital employed (ROCE) is a widely used measure of how efficiently a business uses its capital to generate profit. Capital employed is usually total equity plus non‑current liabilities, or total assets minus current liabilities.

资本回报率 (ROCE) 是衡量企业利用资本产生利润效率的常用指标。资本使用额通常为总股本加非流动负债，或总资产减流动负债。

ROCE = (Net Profit ÷ Capital Employed) × 100

资本回报率 = (净利润 ÷ 资本使用额) × 100

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4. Liquidity Ratios | 流动比率

Liquidity ratios assess a business’s ability to meet its short‑term debts as they fall due. Current ratio compares current assets to current liabilities. A ratio of around 1.5–2 is often considered healthy, though this varies by industry.

流动比率评估企业偿还到期短期债务的能力。流动比率将流动资产与流动负债进行比较。通常认为 1.5–2 的比率是健康的，但不同行业有所差异。

Current Ratio = Current Assets ÷ Current Liabilities

流动比率 = 流动资产 ÷ 流动负债

Acid test ratio (also called quick ratio) is a stricter measure as it excludes inventory, which may not be easily converted into cash. It shows whether a business can pay its immediate liabilities without selling inventory.

酸性测试比率（又称速动比率）是更严格的衡量指标，因为它不包括可能不易变现的存货。它显示企业是否能在不卖出存货的情况下偿还即时负债。

Acid Test Ratio = (Current Assets – Inventory) ÷ Current Liabilities

速动比率 = (流动资产 – 存货) ÷ 流动负债

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5. Efficiency Ratios | 效率比率

Efficiency ratios help evaluate how well a business uses its assets and manages its operations. One important ratio is inventory turnover, which indicates how many times inventory is sold and replaced over a period. A higher turnover suggests efficient inventory management.

效率比率有助于评估企业利用资产和管理运营的效果。一个重要的比率是存货周转率，它表明在一个时期内存货被销售和更新的次数。较高的周转率表明存货管理效率较高。

Inventory Turnover = Cost of Goods Sold ÷ Average Inventory

存货周转率 = 销售成本 ÷ 平均存货

Trade receivable days measures how long on average it takes for a business to collect money from its credit customers. Shorter days are preferred as they 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。天数越短越好，因为有助于改善现金流。

Trade Receivable Days = (Trade Receivables ÷ Credit Sales) × 365

应收账款周转天数 = (应收账款 ÷ 赊销收入) × 365

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6. Financial Ratios – Gearing | 财务杠杆比率

Gearing shows the proportion of a business’s capital that comes from long‑term loans compared to shareholders’ funds. A highly geared business relies more on debt, which increases financial risk but may boost returns when times are good.

杠杆比率显示企业资本中长期贷款与股东资金的比例。高杠杆企业更多地依赖债务，这会增加财务风险，但在形势好时可能提高回报。

Gearing Ratio = (Long‑term Liabilities ÷ Capital Employed) × 100

杠杆比率 = (长期负债 ÷ 资本使用额) × 100

Sometimes an alternative definition uses non‑current liabilities divided by total equity plus non‑current liabilities. What matters is to understand whether the business is exposed to high interest payments and repayment obligations.

有时另一个定义是使用非流动负债除以总股本加非流动负债。关键是要理解企业是否面临较高的利息支付和偿还义务。

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7. Market Share and Growth | 市场份额与增长

Market share is a measure of a business’s sales as a percentage of total sales in the industry. It shows the business’s competitiveness and its position relative to rivals. Sales growth measures how much sales have increased from one period to the next.

市场份额衡量企业销售额占所在行业总销售额的百分比。它显示了企业的竞争力以及相对于竞争对手的地位。销售增长衡量销售额从一个时期到下一个时期的增长幅度。

Market Share = (Business Sales ÷ Total Market Sales) × 100

市场份额 = (企业销售额 ÷ 市场总销售额) × 100

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

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8. Productivity and Capacity Utilisation | 生产率与产能利用率

Productivity measures the efficiency of inputs in generating output. Labour productivity is commonly used and compares output to the number of employees or labour hours. Higher productivity can reduce unit costs and improve competitiveness.

生产率衡量投入转化为产出的效率。劳动生产率是常用指标，比较产出与员工人数或劳动小时数。提高生产率可以降低单位成本并提升竞争力。

Labour Productivity = Output per Period ÷ Number of Employees

劳动生产率 = 每期产出 ÷ 员工人数

Capacity utilisation shows the extent to which a business uses its productive capacity. It is actual output expressed as a percentage of maximum possible output. Low utilisation suggests idle resources; very high utilisation may strain operations.

产能利用率反映企业利用其生产能力的情况。它是实际产出占最大可能产出的百分比。利用率低表明存在闲置资源；利用率过高可能使运营紧张。

Capacity Utilisation = (Actual Output ÷ Maximum Output) × 100

产能利用率 = (实际产出 ÷ 最大产出) × 100

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9. Employee Performance | 员工绩效指标

Businesses use several metrics to evaluate workforce performance. Absenteeism rate measures the percentage of work time lost due to employee absence. High absenteeism can signal low morale or poor working conditions, increasing costs for the business.

企业使用多种指标评估员工绩效。缺勤率衡量因员工缺勤而损失的工作时间百分比。缺勤率高可能表明士气低落或工作条件差，增加企业成本。

Absenteeism Rate = (Number of Days Absent ÷ Total Working Days) × 100

缺勤率 = (缺勤天数 ÷ 总工作日数) × 100

Labour turnover indicates the rate at which employees leave a business and need to be replaced. It is calculated as the number of staff leaving in a period divided by average number of staff. High turnover may suggest dissatisfaction and leads to higher recruitment costs.

员工流失率表明员工离开企业并需要被替换的速率。计算方法为某期间离开的员工人数除以平均员工人数。流失率高可能意味着员工不满，并导致更高的招聘成本。

Labour Turnover Rate = (Number of Staff Leaving ÷ Average Staff Number) × 100

员工流失率 = (离职员工人数 ÷ 平均员工人数) × 100

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10. Working Capital and Cash Flow | 营运资本与现金流

Working capital is the money available for the day‑to‑day running of the business. It is calculated as current assets minus current liabilities. Positive working capital means the business can meet its short‑term obligations without difficulty.

营运资本是可用于企业日常运营的资金，由流动资产减去流动负债计算得出。营运资本为正意味着企业能够轻松偿还短期债务。

Working Capital = Current Assets – Current Liabilities

营运资本 = 流动资产 – 流动负债

Net cash flow is the difference between cash inflows and outflows in a given period. While not a ratio, it is a fundamental concept. The closing cash balance is opening balance plus net cash flow.

净现金流是在给定时期现金流入与流出之差。虽然这不是比率，却是一个基本概念。期末现金余额为期初余额加净现金流。

Net Cash Flow = Cash Inflows – Cash Outflows

净现金流 = 现金流入 – 现金流出

Closing Cash Balance = Opening Balance + Net Cash Flow

期末现金余额 = 期初余额 + 净现金流

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11. Investment Appraisal | 投资评估

Investment appraisal techniques help businesses decide whether a long‑term investment project is worthwhile. Average rate of return (ARR) compares the average annual profit to the initial cost of the investment, expressed as a percentage. A higher ARR indicates a better return.

投资评估技术帮助企业决定长期投资项目是否值得。平均回报率 (ARR) 将平均年利润与投资的初始成本进行比较，以百分比表示。ARR 越高表明回报越好。

ARR = (Average Annual Profit ÷ Initial Investment) × 100

平均回报率 = (平均年利润 ÷ 初始投资) × 100

Payback period measures how long it takes for an investment to recover its initial outlay from the net cash flows it generates. It is expressed in years and months. Shorter payback periods are usually preferred as they reduce risk.

回收期衡量一项投资从其产生的净现金流中收回初始投资所需的时间，以年和月表示。较短的回收期通常更受青睐，因为它们降低风险。

Payback Period = Years to recover full cost from cumulative cash flows

回收期 = 累计现金流收回全部成本的年数

Net present value (NPV) considers the time value of money by discounting future cash flows to their present value and subtracting the initial investment. A positive NPV means the project is expected to add value to the business.

净现值 (NPV) 通过将未来现金流折现到现在并减去初始投资来考虑货币的时间价值。NPV 为正意味着项目预计会为企业增加价值。

NPV = Sum of Discounted Cash Inflows – Initial Investment

净现值 = 折现现金流入总和 – 初始投资

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12. Quick Reference Table | 公式速查表

Here is a summary of all the formulas covered in this handbook, presented in a compact table for last‑minute revision. The formulas are arranged by topic for easy recall in the examination.

下表是本手册所涵盖公式的汇总，以紧凑表格形式呈现，方便考前最后复习。公式按主题排列，便于考试时回忆。

Topic / 主题	Formula / 公式
Revenue	TR = Price × Quantity
Total Costs	TC = FC + (VC × Q)
Profit	TR – TC
Contribution per unit	Price – VC per unit
Break-even Output	FC ÷ Contribution per unit
Gross Profit Margin	(Gross Profit ÷ Revenue) × 100
Net Profit Margin	(Net Profit ÷ Revenue) × 100
ROCE	(Net Profit ÷ Capital Employed) × 100
Current Ratio	Current Assets ÷ Current Liabilities
Acid Test Ratio	(Current Assets – Inventory) ÷ Current Liabilities
Market Share	(Business Sales ÷ Total Market Sales) × 100
Capacity Utilisation	(Actual Output ÷ Max Output) × 100
Labour Turnover	(Number Leaving ÷ Average Staff) × 100
Gearing Ratio	(Long‑term Liabilities ÷ Capital Employed) × 100
ARR	(Average Annual Profit ÷ Initial Investment) × 100

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