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EOPA DMcNeil2
Entrepreneurship
Term | Definition |
---|---|
Shareholders' Equity | the shareholder's claims on a company's assets after all of its creditors have been paid |
Current or Short-Term Assets | items that can or will be converted into cash within one year; may also include marketable securuties |
Fixed or Long-Term Assets | items that are relatively permanent, such as land, buildings, and equipment |
Intangible Assets | long-term assets (e.g., patents, trademarks, copyrights) that have no real physical form but do have value |
Working Capital | the difference between current assets and current liabilities |
Accounts Payable | money an organization owes to its vendors and suppliers |
Accrued Taxes | taxes built up over time, unpaid taxes |
Accrued Salaries | salaries paid for after the service has been performed, typically includes future bonuses |
Provisions | amounts set aside for anticipated one-time payments that are not part of regular operations - perhaps a lawsuit, or a compensation package for employees being laid off |
Factoring | using an outside company to recover debts, obtaining funding by selling account receivable |