The roles of cost & profit centres

IB Business Management: The roles of cost & profit centres

Recall that profit refers to the positive difference between a firm’s total revenues and its total costs for any given period of time. Revenues are the inflows of money, usually from the sale of products. Costs are the outflows of money, to finance production and business activities. By contrast, if costs are greater than revenues, then the organization declares a loss. Most businesses will aim to provide goods and...


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