Beware of little expenses. A small leak will sink a great ship.’

Benjamin Franklin

icon Aim

So far in this book we have looked at the financial statements of a business, and what those statements tell us about the business.

We now turn our attention to some of the detail within the accounts. This chapter focuses on costs and other accounting concepts that you may come across in your business.

icon Outcomes

By the end of this chapter you will be able to:

  • identify direct and indirect costs
  • consider how costs behave
  • learn how to (financially) ...

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