AS Eduqas Business: Formula & Theorem Quick Reference Handbook | AS Eduqas 商务：公式定理速查手册

📚 AS Eduqas Business: Formula & Theorem Quick Reference Handbook | AS Eduqas 商务：公式定理速查手册

This quick reference handbook consolidates all the essential formulae and key business theorems required for the AS Eduqas Business course. From breakeven calculations and financial ratios to motivation theories and strategic models, this guide provides a concise bilingual review to support your revision and examination preparation.

本速查手册汇总了 AS Eduqas 商务课程所需的所有基本公式和关键商业定理。从盈亏平衡计算、财务比率到激励理论和战略模型，本指南以简洁的双语复习方式，助您备考。

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1. Breakeven Analysis | 盈亏平衡分析

Breakeven analysis is a vital tool to determine the level of output at which total revenue equals total costs, so the business makes neither a profit nor a loss.

盈亏平衡分析是确定总收入等于总成本的产量水平的重要工具，此时企业既不盈利也不亏损。

The key output of this analysis is the breakeven point, which can be expressed in units or in value terms. The formulae are as follows:

该分析的关键产出是盈亏平衡点，可以用数量或金额表示。公式如下：

Breakeven Point (units) = Fixed Costs ÷ (Selling Price – Variable Cost per Unit)	盈亏平衡点（单位）= 固定成本 ÷（售价 – 单位变动成本）
Breakeven Point (value) = Breakeven Units × Selling Price	盈亏平衡点（金额）= 盈亏平衡单位 × 售价
Margin of Safety (units) = Actual Output – Breakeven Output	安全边际（单位）= 实际产量 – 盈亏平衡产量

The margin of safety indicates how far output can fall before the business starts making a loss.

安全边际表明在开始亏损之前，产量可以下降多少。

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2. Contribution and Margin of Safety | 贡献与安全边际

Contribution is the amount of revenue left after deducting variable costs, which goes towards covering fixed costs and generating profit.

贡献是指扣除变动成本后剩余的收入，用于弥补固定成本并产生利润。

It can be calculated on a per-unit basis or as a total figure.

它可以按单位计算，也可以作为总额计算。

Contribution per Unit = Selling Price – Variable Cost per Unit	单位贡献 = 售价 – 单位变动成本
Total Contribution = Contribution per Unit × Quantity	总贡献 = 单位贡献 × 数量
Profit = Total Contribution – Fixed Costs	利润 = 总贡献 – 固定成本

The margin of safety can also be expressed as a percentage: (Margin of Safety units ÷ Actual Output) × 100.

安全边际也可以表示为百分比：（安全边际单位 ÷ 实际产量）× 100。

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3. Profitability Ratios | 盈利比率

Profitability ratios measure the ability of a business to generate profit relative to its sales, assets or equity.

盈利比率衡量企业相对于其销售、资产或权益产生利润的能力。

The three core profitability ratios are:

三个核心盈利比率是：

Gross Profit Margin = (Gross Profit ÷ Revenue) × 100	毛利率 =（毛利 ÷ 营业收入）× 100
Net Profit Margin = (Net Profit ÷ Revenue) × 100	净利率 =（净利润 ÷ 营业收入）× 100
Return on Capital Employed (ROCE) = (Operating Profit ÷ Capital Employed) × 100	资本运用报酬率 (ROCE) =（营业利润 ÷ 运用资本）× 100

ROCE is particularly important for assessing how efficiently a business uses its long-term funds.

ROCE 对于评估企业如何使用长期资金的效率尤为重要。

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4. Liquidity Ratios | 流动性比率

Liquidity ratios evaluate a firm’s ability to meet its short-term obligations as they fall due.

流动性比率评估企业按时偿还短期债务的能力。

The two most common liquidity ratios are:

最常见的两个流动性比率是：

Current Ratio = Current Assets ÷ Current Liabilities	流动比率 = 流动资产 ÷ 流动负债
Acid Test Ratio = (Current Assets – Inventory) ÷ Current Liabilities	速动比率 =（流动资产 – 存货）÷ 流动负债

The acid test ratio is a stricter measure because it excludes inventory, which may not be quickly convertible into cash.

速动比率是一种更严格的衡量标准，因为它排除了可能无法快速变现的存货。

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5. Efficiency Ratios | 效率比率

Efficiency ratios indicate how well a business manages its resources, particularly inventory and trade receivables.

效率比率表明企业管理资源（尤其是存货和应收账款）的能力。

Inventory Turnover = Cost of Goods Sold ÷ Average Inventory	存货周转率 = 销售成本 ÷ 平均存货
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
Trade Payable Days = (Trade Payables ÷ Credit Purchases) × 365	应付账款周转天数 =（应付账款 ÷ 赊购金额）× 365

A high inventory turnover suggests efficient stock management, while a low figure may signal overstocking.

高存货周转率表明库存管理高效，而低数值则可能暗示库存积压。

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6. Elasticity of Demand | 需求弹性

Elasticity measures the responsiveness of demand to changes in price, income, or the price of another product.

弹性衡量需求对价格、收入或其他产品价格变化的反应程度。

Price elasticity of demand (PED) is the most critical: it tells a business how a price change will affect total revenue.

需求价格弹性 (PED) 最为关键：它告诉企业价格变化将如何影响总收入。

PED = % Change in Quantity Demanded ÷ % Change in Price	需求价格弹性 = 需求量变化百分比 ÷ 价格变化百分比
YED = % Change in Demand ÷ % Change in Income	需求收入弹性 = 需求变化百分比 ÷ 收入变化百分比
XED = % Change in Demand for A ÷ % Change in Price of B	需求交叉弹性 = 产品A需求变化百分比 ÷ 产品B价格变化百分比

If PED > 1, demand is elastic; if PED < 1, demand is inelastic. Unitary elasticity occurs when PED = 1.

若 PED > 1，需求富有弹性；若 PED < 1，需求缺乏弹性。当 PED = 1 时为单位弹性。

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7. Cost, Revenue and Profit | 成本、收入与利润

Understanding the basic cost and revenue equations is fundamental for any business decision.

理解基本的成本与收入方程是任何商业决策的基础。

Total Cost (TC) = Fixed Cost (FC) + Variable Cost (VC)	总成本 = 固定成本 + 变动成本
Average Cost (AC) = Total Cost ÷ Output	平均成本 = 总成本 ÷ 产量
Total Revenue (TR) = Price × Quantity	总收入 = 价格 × 数量
Profit = Total Revenue – Total Cost	利润 = 总收入 – 总成本

A business maximises profit where the marginal cost equals marginal revenue, but at AS level these linear formulae are the focus.

企业在边际成本等于边际收入时利润最大化，但在 AS 阶段重点关注这些线性公式。

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8. Investment Appraisal | 投资评估

Investment appraisal techniques help businesses evaluate the potential returns from investment projects.

投资评估方法帮助企业评估投资项目的潜在回报。

The two main methods at AS Eduqas are the Average Rate of Return (ARR) and the Payback Period.

AS Eduqas 课程中的两种主要方法是平均收益率 (ARR) 和回收期。

ARR = (Average Annual Profit ÷ Initial Investment) × 100	平均收益率 =（平均年利润 ÷ 初始投资额）× 100
Payback Period = The point in time when cumulative net cash flows equal the initial outlay	回收期 = 累计净现金流等于初始支出时的时间点

The payback period can be calculated precisely when cash flows are constant or by interpolating between years for uneven flows.

当现金流恒定时可精确计算回收期，或不均匀时通过年份间插值计算。

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9. Cash Flow and Working Capital | 现金流与营运资本

A healthy cash flow is essential for survival, and working capital indicates the liquidity of day-to-day operations.

健康的现金流是企业生存的基础，而营运资本则体现了日常运营的流动性。

Net Cash Flow = Cash Inflows – Cash Outflows	净现金流 = 现金流入 – 现金流出
Closing Balance = Opening Balance + Net Cash Flow	期末余额 = 期初余额 + 净现金流
Working Capital = Current Assets – Current Liabilities	营运资本 = 流动资产 – 流动负债

A positive working capital ensures

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