Business and technology qualifications, Levels 3-6, in Brussels. Explore qualifications
Portal login
Diploma in Higher Education Studies

Income, expenses and profit

HES 201 · Introductory Accounting — Week 3 of 16

CourseHES 201
Week3 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

Income, expenses and profit

  1. Revenue and costs
  2. Working out profit or loss

What you will be able to do

  • 1.1 Explain why businesses keep financial records.

Activity

Calculate the monthly profit of a market stall.

Study materials

Further resources

  • Principles of Accounting Vol. 1, ch. 2.2: Assets, liabilities, equity, income, expenses · PDF · OpenStax (2019), revenue and expenses; pp. 67–70 · for registered students
  • Principles of Finance 2e, ch. 4.5: What is profit versus loss? · PDF · OpenStax (2026); pp. 119–126 · for registered students
  • Optimizing costs for gamma knife radiosurgery: a cost and breakeven analysis · Open-access article · Agrawal et al. (2025), PLOS ONE. Real example of revenue, costs and the price needed to make a profit. · for registered students
  • Financial Management Skills in Small Tourism Businesses: An Exploratory Study · Open-access article · Mattimoe (2013), Irish Accounting Review. How small-business owners track income, costs and profit in practice. · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
Week 2Week 4
Course chat

Admitted students ask questions on this week’s page in the student portal: an AI assistant trained on the course answers first, and during the course’s timetabled classes Connect to your tutor brings your tutor into the chat, who may start a call if needed.

Open this week in the portal
Course plan
  • Week 1: Why businesses keep financial records
  • Week 2: Who uses accounts?
  • Week 3: Income, expenses and profit
  • Week 4: Assets, liabilities and capital
  • Week 5: The accounting equation
  • Week 6: Double entry: debits and credits
  • Week 7: Recording sales, purchases and cash
  • Midterm: Midterm evaluation
  • Week 9: The income statement (profit and loss)
  • Week 10: The balance sheet
  • Week 11: Profit is not the same as cash
  • Week 12: Cash flow forecasts
  • Week 13: Ratios: how profitable is the business?
  • Week 14: Ratios: can the business pay its bills?
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
Back to the course
Scroll