type of budgets
detailed plans for the financial needs of individuals families, and businesses
budget
documentation used to process earrings payments and records each employee's pay history
payroll records
costs of operating a business
expenses
what a company owns; anything of value owned by the business
assets
a budget that plans income and expenses from the beginning of a new business or a major business expansion
start-up budget
comparisons of a company's financial elements that indicate how well a business is preforming
financial performance ratios
all income that a business receives over a period of time; government income
revenue
what the companies owe
liablities
the financial plan for ongoing operations of a business for a specific period of time
operating budget
financial documents that are used to record and analyze the financial performance of a business
financial records
the process by which net pay is deposited electronically and available automatically for employee use.
direct deposit
the values of the business after liabilities are subtracted from assets; the value of the owner's investment in the business
owners equity
an estimate of the actual money received and paid out for a specific period of time
cash budget
a report od revenue, expenses, and net income or loss from operations for a specific period
income statement
the financial record of employee compensation deductions, and net pay
payroll
a business's plan for how and when to buy buildings equipment, and other assets that will be used over a long period
capital budget
a report that lists a company's assets, liabilities, and owner's equity at a specific date.
balance sheet
the difference between a business's actual performance and budgeted amounts
variance