Skip to main content

UNIT 14 // WORKING FREELANCE

Methods of payment 

Performance related pay (commission) - Pay linked to how well you do, e.g. value of sales, often as a top-up on a basic salary.
Bonus - A one-off payment (often annual) if the organisation has done well or as a 'thank you' for good performance. 
Profit-sharing - Additional payment (usually annual) whereby employees receive extra pay based on a percentage of the company's profits.
Minimum wage - An amount of money that is the least workers must be paid per hour according to the law. 
Living wage - Pay calculated according to the basic cost of living in the UK: employers choose to pay this on a voluntary basis. 
Annual Salary - Annual amount paid in 12 equal instalments direct to your bank account. 
Cash pay packet - Pay often used for casual work:the envelope that the pay is received in details the amount earned and any deductions. 

What is a tax code? 

A tax code is usually made up of several numbers and a letter, for example: 1000L
  • Multiply the number by ten to find the total amount of income you can earn in a year before paying tax:
1000 x 10 = £10'000 
  • This is your personal tax allowance. It is set by the government and may change from year to year. 
e.g. for salary of £20'000 per year:
£20'000 - £10'000 = £10'000

Tax paid on £10'000 @ 20% = £2'000 (or £166.66 each month deducted from your pay)

Financial Terms 

Credit Rating - The assessment given to borrowers by a ratings agency according to their level of risk. 
Limited Liability - Confines an investor's loss in a business to the amount of capital they invested: if a person invests £1'000 in a company and it goes out of business, they will lose only their investment and not more. 
Budget - An amount of money that is allocated to a particular activity or resource over a set period of time. 
Cash Flow - The movement of cash in and out of a business from day to day. 
Fixed Cost - A cost that does not vary with changing circumstances, e.g. paying for a venue will cost the same regardless of how many people use it. 
Gross Profit - Sales minus cost of goods or services sold. 
Net Profit - Normally refers to profit after deduction of all operating expenses including fixed costs and overheads. 
Variable Cost - A cost that varies according to use, e.g. materials, fuel. 
VAT - Tax charged when a registered business sells to either another business or to a non-business customer; the current rate is 20%.
Capital - Current assets minus current liabilities: the money that can be put to work earn income.  

Comments

Post a Comment

Popular posts from this blog

Defining the Audience

Age Age is important when classifying audiences.  People of similar ages often have similar and dislikes.  You can make broad statements about different age groups which, whilst they won't apply to everyone in that group, will apply to the majority.  People in their 20s are more likely to live at home or rent than people in their 30s.  People in their 60s are less likely to have children still at home than people in their 40s.  Media products often have target age that they aim for. Different media products will have different average consumer ages.  What does this mean? Companies make assumptions about people of a similar age having similar likes and dislikes in terms of products, in this case, print products. What can it tell you about an audience? It tells print products about people of a certain age demographics their likes and dislikes of a product, genre or topic.  Gender Gender is quite a simple way of classifying your au...
Post a Comment
Read more

Task A Targeting and Defining Audience (Illustrated Report - Audiences and Film Producers)

In media terms, an audience is any group of people who receive a media text, and not just people who are together in the same place. They receive the text via a media carrier such as a newspaper, television, DVD, radio or the internet. It can also be via a mobile phone, iPod, or any other device that stores or receives media messages.    Every media text is planned with a particular audience in mind, a television producer has to explain to the broadcasting institution (e.g. BBC or ITV) who is the likely audience demographic for the particular programmes.    Audience research is a major element for any media producer. Companies are set up to carry out audience research for media producers, broadcasters and advertisers. These research companies use questionnaires, focus groups, one-to-one interviewing, and electronic devices to find out about people's life styles, and television viewing habits as well as the type of products they want to buy.    Profilin...
Post a Comment
Read more

Male Gaze

Where did the idea of the "male gaze" come from? The male gaze invokes the sexual politics of the gaze and suggests a sexualised way of looking that empowers men and objectifies women. In the male gaze, women is visually positioned as an "object" of heterosexual male desire. ...  Mulvey's Theory Adopting the language of psychoanalysis, Mulvey argued that traditional Hollywood films respond to a deep seated drive known as "scopophilia": the sexual pleasure involving in looking. Mulvey argued that most popular movies are filmed in ways that satisfy masculine scopophilia.  Although ... The Postman Always Rings Twice [1946] offers a famous example of the "male gaze". In the scene below, the audience is introduced to Cora Smith, the film's lead female character. Using close-ups, the camera forces the viewer to stare at Cora's body. It creates a mode of looking that is sexual, voyeristic, and associated with the male prot...
Post a Comment
Read more