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EOPA BHouse3

Entrepreneurship Pathway

TermDefinition
Internal customers individuals and units within the firm that receive services from other individuals or units
Funds amounts of money
Profit the difference between revenue and expenses
Ledgers books in which financial records are written
Trial Balance a summary of all the financial data in the account ledgers that ensures the figures are correct and balanced
Annual Report a yearly statement of the financial condition, progress, and expectations of an organization.
Profit and Loss Account a financial statement showing revenue, expenditure and profit during a given period
The P&L Account Begins with... total sales (=revenue) generated during a month, quarter or year
Cost of Goods sold (COGS) manufacturing costs, wages of blue-collar workers, transport costs etc.
Operating Expenses salaries of sales and office staff, marketing costs, rent etc.= overheads
Created by: BreannaHouse
Popular Management sets

 

 



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