Financial Information
Resources owned by a business or individual
A process of series of steps the businesses complete to maintain their financial records effectively
Accounting Cycle
All money owed BY the business to others
Accounts payable
Refers to managing the flow of goods and services from production to consumption
Logistics
Which direction does the sun rise from?
East
An estimate of income and expenditures over a certain period of time
Budget
A financial statement that captures the financial condition of the business at that particular moment (assets and liabilities)
Balance Sheet
A measure of how well a business generates cash flow in relation to the capital it has already invested in itself
Return on Capital (will also accept return on investment)
The goods and services produced as the result of combining inputs
Outputs
What is a group of crows called?
A Murder
Records showing a business's financial activities
Financial Statements
A financial summary that shows how much money the business has made or has lost over a period of time; also called the profit-and-loss statement
Income Statement
Decisions that determine which projects a business will invest in, how the investment(s) will be financed, and whether to pay dividends to shareholders
Capital Investment (Decisions)
The buying of goods and services for a business; also known as purchasing
Procurement
How fast can cheetahs run?
75 MPH (be within 2 miles)
Appropriate to the matter at hand
Relevant
A financial summary with estimates as to when, where, and how much money will flow into and out of a business
Cash Flow Statement
Management of a firm’s current balance of assets and liabilities; involves accounts payable and receivable, inventory, and cash
Working Capital Management
A process businesses use to prevent defective products from being created, not just to eliminate or correct them after they’ve already been produced
Quality Assurance
Who painted the Mona Lisa
Leonardo da Vinci
These 2 business departments use financial information most often
accounting and finance
A sum of money paid to an investor or stockholder as earnings on an investment
Dividend
Ensuring the degree of excellence of a good or service
Quality Control
Which continent is the country of Morocco a part of?
Africa