Finance
The systematic recording and reporting of financial transactions.
What is accounting?
This financial statement reports a company's assets, liabilities, and owner's equity at a specific point in time.
What is a balance sheet?
The money a business earns when its revenue is greater than its expenses.
What is income / profit?
A strong, often non-logical, enthusiasm for something that is central to finding your purpose.
What is passion?
Steve Jobs, Oprah Winfrey, Walt Disney, Elon Musk and a person who owns a lemonade stand are all widely known to be this.
What are examples of entrepreneurs?
Assets = Liabilities + Owner's Equity.
What is the accounting equation?
This financial statement reports a company's revenues and expenses over a specific period of time.
What is an income statement?
The costs a business incurs through its operations to generate revenue.
What are expenses?
What you are naturally good at and the abilities you have learned through experience and training.
What are strengths and skills?
A characteristic of entrepreneurs meaning they are intensely focused and determined to achieve their goals.
What is driven?
Items of value owned by a business, such as cash, equipment, and land.
What are assets?
A financial plan that tracks income and expenses over a set period.
What is a budget?
This occurs when a company's expenses are greater than its revenue.
What is a loss?
These are times when you felt energized, engaged, and successful, often revealing your core values.
What are best moments?
The belief in one's own ability to succeed, which is crucial when facing business challenges.
What is confidence?
Claims against a business, representing the amounts it owes to others.
What are liabilities?
Any specific, set period of time used by a business for accounting purposes, often one year.
What is a fiscal period?
The income generated from normal business operations, such as the sale of goods or services.
What is revenue?
People, tools, connections, time, money or knowledge that can help you reach your goals.
What are resources?
A practice where people intentionally seek out small instances of being told "no" to become less sensitive to it.
What is rejection therapy?
Guidelines that suggest a certain percentage of income should be allocated to categories like housing, food, or savings.
What are budget percentages?
The general term for reports like the balance sheet and income statement that summarize a company's financial health.
What are financial statements?
The general term for money paid out, or the act of spending funds.
What is an expenditure?
JA stands for this.
What is Junior Achievement?
Taking on financial or personal exposure to danger in the hopes of a greater return, a defining act of starting a business.
What are risks?