Finance Vocabulary
A document that shows money owed for goods or services.
What is an invoice
What does "CEO" stand for?
What is "Chief Executive Officer"?
Say this amount: $1,500
What is "one thousand five hundred dollars" / "fifteen hundred dollars"?
The left side of a ledger that shows money going out.
What is a debit?
A systematic examination of financial records.
What is an audit?
Money spent by a business to operate.
What are expenses
What does "P&L" stand for?
What is "Profit and Loss"?
Say this percentage: 25%
What is "twenty-five percent"?
The right side of a ledger that shows money coming in.
What is a credit?
A person who examines and verifies financial accounts.
What is an auditor?
A prediction of future income and expenses.
What is a forecast\budget
What does "YTD" mean?
What is "Year to Date"?
Say this amount: $3,456,789.10
What is "three million, four hundred fifty-six thousand, seven hundred eighty-nine dollars and ten cents"?
Things a company owns that have value.
What are assets?
Physical proof or documents that support financial transactions.
What is evidence/supporting documentation?
The money a company earns from its business activities.
What is revenue?
What does "ROI" stand for?
What is "Return on Investment"?
Say this: Q3 2026
What is "the third quarter of twenty twenty-six" / "Q three twenty twenty-six"?
Money or obligations a company owes to others.
What are liabilities?
Following rules, regulations, and standards.
What is compliance?
The process of comparing records to ensure they match and are accurate.
What is reconciliation?
What does "EBITDA" stand for?
What is "Earnings Before Interest, Taxes, Depreciation, and Amortization"?
Say this amount: $12,345,678.99
What is "twelve million, three hundred forty-five thousand, six hundred seventy-eight dollars and ninety-nine cents"
The accounting equation: Assets = Liabilities + _____
What is equity/owner's equity?
An audit conducted by someone within the company.
What is an internal audit?