Show me the Money
all income that a business receives over a period
what is revenue
comparisons of a company’s financial elements that indicate how well the business is performing
what are financial performance ratios
detailed plans for the financial needs of a business
what is a budget
costs of operating a business
what are expenses
differences between actual and budgeted performance
what are discrepancies
what a company owns; anything of value owned by a business
what are assets
a financial ratio that tells you how much net income a company generates per dollar of invested capital
what is the return on equity ratio
describes the financial plan for ongoing operations of the business for a specific period of time
what a company owes
what are liabilities
the intake and output of money within a business
what is cash flow
the value of the business after liabilities are subtracted from assets; the value of the owner’s investment in the business
what is owner's equity
provides insight into how much of each dollar in revenue is converted into profit, helping evaluate a company's efficiency and financial performance
what is the net income ratio
an estimate of the actual money received and paid out for a specific period of time
what is a cash-budget
a financial document that contains information on all employees of the company, their compensation, and benefits
what are payroll records
financial documents that are used to record and analyze the financial performance of a business
what are financial records
the financial record of employee compensation, deductions, and net pay
what is payroll
this ratio shows how much debt a company has compared to its assets
what is the debt to equity ratio
plans income and expenses from the beginning of a new business or a major business expansion until it becomes profitable
what is a start-up budget
a report that lists a company’s assets, liabilities, and owner’s equity
what is a balance sheet
a report of revenue, expenses, and net income or loss from operations for a specific period
what is an income statement
funds are deposited electronically and available automatically for your use
what is direct deposit
a liquidity ratio that measures a company's ability to pay short-term obligations or those due within one year
what is the current ratio
BONUS QUESTION: this type of budgeting means that at the end of the desired budgeting period, you have allocated all resources and there is nothing left
what is zero-based budgeting
a pre-approved loan that allows you to get money when you need it and not all at once
what is a line-of credit
BONUS QUESTION: The first group to WRITE the four steps of budget preparation correctly, including spelling, punctuation and capitalization, and calmly walk it to me will win the 500 pts.
Good luck!