Financial Documents
A snapshot of what your business has and what you owe at a given point in time
What is a balance sheet
Two types of financing available for entrepreneurs looking to secure initial capital for their business
What are debt and equity
identifying, measuring, and recording financial transactions
Who is the bookkeeper
Summarizes income and expenses for a fixed period of time
What is an income statement
Having to pledge something of value as a promise to repay
What is collateral
If a person is interested in summarizing, interpreting, and communicating financial transactions, their course of study is considered
What is Accounting
Costs that vary with production levels
What are variable costs
The term used to secure some initial funds
What is seed money
this type of system helps a business track records of income and costs, assists with payroll, budgeting, expenses, purchasing, taxes, and inventory
What is Accounting software
A cost that does not change as sales volumes change
What is a fixed cost
The money needed in the business to pay for day-to-day operations is known as
What is working capital
This is the field that provides information and analysis from within the organization to help operate the business
What is Managerial Accounting
Shows how much cash came into the business, where it came from, and the cash that went out, and where, over a given period of time
What is a statement of cash flow
The part of a business plan might a bank evaluate to determine if a business would be able to repay a loan?
What is financial plan
The point at which the costs and revenue in a business are equal
What is breakeven analysis