Gettin' Paid
The account that shows payments to employee salaries, wages, bonuses, and deductions.
Payroll
She was the only woman to appear on U.S Currency.
Martha Washington
The top reason companies go out of business
Run out of Cash
All of the expenses that a business has incurred but has not yet paid. This account is recorded as a liability on the Balance Sheet as it is a debt owed by the company.
Accounts Payable (AP)
A financial statement that reports on all of a company’s assets, liabilities, and equity.
Balance Sheet
In 2015, the TSA reported collecting $765,759.15 of this left at airport security checkpoints across the country.
loose change
Dirtier than a household toilet... One NYU study found more than 3,000 types of organisms on just 80 of these that link to pneumonia and food poisoning.
$1 Bills
The dollar amount that is earned in profits. It is calculated by taking Revenue and subtracting all of the Expenses in a given period, including COGS, Overhead, Depreciation, and Taxes.
Net Income
This is designated in all Financial Statements (Income Statement, Balance Sheet, and Statement of Cash Flows). The period communicates the span of time that is reported in the statements.
Accounting Period
Any money earned by the business.
Revenue
This industry generates more revenue each year than blockbuster movies, sports, theme parks, cruise ships, and music combined.
Gambling
Money can’t last forever. Through wear and tear, money needs to be replaced now and then. This is the average lifespan of a $1 bill.
18 months
The profit you make after subtracting the direct cost of producing a product or service.
Gross profit
This includes all of the revenue (sales) that a company has provided but has not yet collected payment on. This account is on the Balance Sheet, recorded as an asset that will likely convert to cash in the short-term.
Accounts Receivable
A snapshot of the timing and amount of cash coming into and out of the business at any given time.
Cash Flow
A recent survey found that 49% of Americans including high-way earners are currently doing this. For some, it's due to low wagers, but for many, it's due to bad financial habits.
living paycheck to paycheck
Pablo Escobar spent $2,500 a month on these?
Rubber Bands
The amount of income a company has left after all other expenses are paid, including salaries, rent, debt payments, phone bills, and other operating costs.
Net Profit
A financial statement that summarizes the revenues, costs, and expenses incurred during a specified period.
The profit and loss statement
This is any cost incurred by the business.
Expense
In 1989, this band sang about what they would do if they 'had a million dollars'.
Barenaked Ladies
Cool Fact! There are two of these in Antarctica.
ATMs
Originally, this term referred to the profit that a company was making, divided by the Investment required. Today, the term is used more loosely to include returns on various projects and objectives. For example, if a company spent $1,000 on marketing, which produced $2,000 in profit, the company could state that "THIS" on marketing spend is 50%.
Return on Investment (ROI)
Expenses that relate to running the business. They do not include Expenses that make the product or deliver the service. For example, this often includes Rent and Salaries.
Overhead
This term describes the procedure of assigning funds to various accounts or periods.
Allocation