Question

In the world of sports (regardless of level) balancing revenue and expenses is critical to the success of the department. Within the level of sports you represent, or wish to go into, explain in detail what some of your department's major expenses and revenues would be? What does God teach us about money and how would those teachings apply to this discussion topic?

Answer 1

While opening sport department following will be major expenses
1) Cost of Products: Cost of the product one is selling will form major part of departmental store's expenses. This expenses can be reduced by ordering products( i.e Bats) in bulk, thus getting bulk discounts
2) rent expense: The store will also entail rent expense if it is not owned
3) Employee's expense: One will need cashier to handle cash as well as security guard. Payment made to them will form part of salary expense
4)Maintenance Expenses : Maintaining equipment is also important and hence this will form part of expense

While revenue side will majorly consist of sale of product.Other income may include interest income from bank deposit and providing sport equipment on rental basis.

To break even our cost on should focus on recovering our fixed cost such as rent.