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Financial Plan 1
Financial Plan 2
Financial Plan 3
Financial Plan 4
Financial Plan 5
100
a set of documents that outline the essential financial facts about the new venture.
What is Financial Plan
100
when people or businesses buy property and agree to pay for is later.
What is credit
100
a plan specifying how money will be used or spent during a particular period.
What is budget
100
anything of value that is owned or controlled
What is property
100
maintains and reviews business records
What is Accountant
200
Cash, equipment, buildings, supplies, inventory, and land are all examples of this.
What are Assets
200
an estimate of a business’s financial outlook for each of the next few years.
What is financial forecast
200
plan for your income and expenses from the time you start a business to estimated time it will take to make a profit.
What is Start-up Budget
200
a rule that states that assets must always equal the sum of liabilities and owner’s equity.
What is accounting equation
200
a review of accounting records and procedures
What is an audit
300
money supplied by investors, banks, or owners of a business.
What is Capital
300
assets that are either used up or converted to cash during the normal cycle of the business.
What is current assets
300
represents the short-term liabilities that a business owes to creditors.
What is Accounts Payable
300
documents that summarize the changes resulting from business transactions that occur during an accounting period.
What is financial statement
300
The biggest accounting firms are known as
What is the "Big Four."
400
the money used to pay for the various assets and expenses of a new venture or business.
What is Start-up Capital
400
items of value that will be held for more than one year
What is fixed assets
400
plan for the amount expected to be spent and earned over a given period of time, usually six months or a year.
What is Operating Budget
400
the period of time reflected by an accounting report.
What is accounting period
400
summarized information about the financial status of a business.
What is financial reports
500
a report of revenue, expenses, and net income or net loss over an accounting period.
What is Income Statement
500
reports of the balances in all assets, liability, and owner’s equity accounts at the end of an accounting period.
What is Balance Sheet
500
the systematic process of recording and reporting the financial position of a person or an organization.
What is Accounting
500
financial report that shows incoming and outgoing money during an accounting period.
What is statement of cash flows
500
GAAP stand for
What is generally accepted accounting principles