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Financial Account 1

Basic aspects of Financial reports

TermDefinition
Income Statement An ________________________ shows revenues, expenses, and profit for a time period such as a month, quarter, or years.
Fiscal Year ________________________ refers to any twelve-month period that a company uses for accounting purposes.
Sales / Revenue ______________________ is the dollar value given of all the products or services a company provides to its customers during a given period of time.
Operating Expenses ________________________ reflects the costs that are required to keep a business going day to day.
Net Profit / Margin ________________________ refers to the bottom line of the income statement.
Opportunities, Threats The two parts of a SWOT analysis that refer to external areas of concern for a company are ____________________ and _____________________.
Non-Cash Accounts _________________________ refers to expenses charged to a period on the income statement but is not actually paid out in cash.
Depreciation Accountants use ________________________to spread the cost of equipment and other assets over more than one accounting period.
EBITDA Wall Street believes ______________________ is a better measure of a company’s operating efficiency because it ignores noncash charges.
Earnings Per Share n a publically traded company, ___________________________is a company’s net profit divided by the number of shares outstanding.
Balance Sheet ___________________________ reflects the assets, liabilities, and owner’s equity at a specific point in time.
Assets __________________________ come first on the balance sheet and reflect what the company owns.
Current Assets _________________________ includes assets that can be turned into cash in less than a year.
Cash / Cash Equivalents ____________________ comes first in the current asset portion of the balance sheet.
Accounts Recievable __________________________ reflect customer balances outstanding on credit sales.
Inventory ___________________ reflect items held for sales or used in the manufacturing of products that will be sold.
Raw Materials, Finished Goods, Works in Progress ______________________, _________________________, and Work In Progress are three types of inventory.
Long-Term Assets _____________ includes assets that cannot be turned into cash within the next twelve months.
Capital Expenditures _______________ refers to the purchase of an item that’s considered a long-term investment, such as a building and/or equipment.
Capital _________________ refers to a number of things such as; physical capital and financial capital.
PPE = Property, Plant, Equiptment _________________ includes a company’s fixed assets and whose value is adjusted on the balance sheet by accumulated depreciation.
Straight Line, Accellerated, Units of Production Three methods of depreciation are _____________, __________________, ______
Land ___________________ refers to property used in the business.
Equipment ___________________ reflects “historic costs”, including delivery and installation charges, of machinery and equipment used in business operations.
Accumulative Depreciation Accountants use _____________________________ to adjust the “historic cost” of all items, depreciated to what is known as “book value”.
Other Assets ____________________ refers to a multitude of other noncurrent assets on the balance sheet such as goodwill, patents, trademarks, copyrights, brand names, and franchises.
current Liabilities _______________ reflect liabilities that must be paid in one year or one operating cycle, whichever is longer.
Accounts Payable _______________ reflect short-term obligations that arise from credit extended by suppliers for the purchase of goods and services.
Line of Credit ___________ is a current liability which permits borrowing from a financial institution up to a maximum amount.
Created by: pvince on 2014-01-08



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