Definitions
Categories
Expenses
A-B-C-B-A
Potpourri
100
A set of documents that outline the essential financial facts about the new venture.
What is a FINANCIAL PLAN?
100
Start-up, Cash, Operating
What are types of BUDGETS?
100
business assets, remodeling costs, security deposits, advertising, insurance, supplies, legal permits, licenses
What are START-UP EXPENSES?
100
Property and other items of value owned by a business.
What are ASSETS?
100
A report of the revenue, expenses & net income or net loss over an accounting period.
What is an INCOME STATEMENT?
200
Money supplied by investors, banks or owners of a business.
What is CAPITAL?
200
Friends, Family, Savings, Loans, Investments
What are START-UP CAPITAL RESOURCES?
200
payroll, rent, utility, delivery charges, bank fees
What are OPERATING EXPENSES?
200
A report of the balances in all assets, liabilities and owner's equity accounts at the end of an accounting period.
What is BALANCE SHEET?
200
One of the 2 main computerized accounting programs.
What is QUICKBOOKS or PEACHTREE?
300
An estimate of a business's financial outlook for each of the next years.
What is FINANCIAL FORECAST?
300
equipment, buildings, supplies, inventory, land
What are ASSETS?
300
The person who maintains and reviews business records.
What is an ACCOUNTANT?
300
The money that is available to a business at any given time.
What are CASH FLOWS?
300
GAAP
What are GENERALLY ACCEPTED ACCOUNTING PRINCIPLES?
400
A plan specifying how money will be used or spent during a particular period.
What is a BUDGET?
400
income statements, balance sheets, statements of cash flows
What are MAIN FINANCIAL STATEMENTS?
400
Long-term liabilities that a business owes to creditors.
What are ACCOUNTS PAYABLE?
400
Instutition that uses a financial statement to learn the financial condition of a business.
What is a BANK?
400
Anything that is of value that is owned or controlled by a company.
What is PROPERTY?
500
The systematic process of recording and reporting the financial position of a person or an organization.
What is ACCOUNTING?
500
Price Waterhouse Coopers Deleitte Touche Tohmatsu Erns & Young KPMG
What are the BIG FOUR (ACCOUNTING FIRMS THAT OPERATE WORLDWIDE)?
500
Creditors' claims to the assets of a business (the debts of a business).
What are LIABILITIES?
500
Assets = Liabilities + Owner's Equity
What is the ACCOUNTING EQUATION?
500
The total amount of money owed to a business.
What is ACCOUNTS RECEIVABLE?
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