Cash
Money the business currently has available to use.
Cash
Money or obligations that a business owes to others.
Liabilities
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Money invested in a company by its shareholders in exchange for shares.
Share Capital
The cost of the products that a business sold.
Cost of Sales
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The owner’s share of what the business is worth after debts.
Equity / Owner's Equity
The money left from sales after subtracting the cost of the products sold.
Gross Profit
Profits the company keeps instead of giving them to the owners/shareholders.
Retained Earnings
The account where a business keeps and manages its money.
Bank
Money a business earns by selling its products or services.
Sales/Revenue
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The money left after subtracting all business expenses from revenue.
Net Profit
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Products or materials that a business has available to sell.
Inventory
Money a business spends to operate.
Expenses
Money customers owe the business for things they already bought.
Accounts Receivable
Long-term physical things a business uses, like buildings, machines, or vehicles.
Property, Plant and Equipment
A report showing what a business owns, owes, and what belongs to its owners at a specific moment.
Balance Sheet
A financial report showing the business’s revenue, expenses, and profit or loss.
Income Statement
Things the business owns that have value.
Assets
Money the business owes to other companies or suppliers.
Accounts Payable
Money borrowed from a bank that the business must pay back.
Bank Loans
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Important reports that show the financial situation and performance of a business.
Financial Statements