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Financal Terms
| Question | Answer |
|---|---|
| ALLOWANCE | the amount of something that is permitted, especially within a set of regulations or for a specified purpose |
| BUDGET | an estimate of income and expenditure for a set period of time |
| BUDGET VARIANCE | the difference between the budgeted or baseline amount of expense or revenue, and the actual amount |
| FINANCIAL PLAN | comprehensive evaluation of an individual's current pay |
| FIXED EXPENSE | an expense that will be the same total amount regardless of changes in the amount of sales, production, or some other activity |
| MONEY MANAGEMENT | the process of budgeting, saving, investing, spending or otherwise in overseeing the cash usage of an individual or group |
| MONEY MANAGEMENT | the process of budgeting, saving, investing, spending or otherwise in overseeing the cash usage of an individual or group |
| PERSONAL ASSETS | an asset in the form of money or chattels. It could be any item of economic value owned by an individual or corporation, especially that which could be converted to cash |
| BUDGET CATEGORY | expenses are especially prominent on the Income statement |
| FINANCIAL GOALS | targets, usually driven by specific future financial needs |
| INCOME | money received, especially on a regular basis, for work or through investments |
| LONG TERM GOALS | Goals that take a long time to achieve |
| SHORT TERM GOALS | something you want to do in the near future |
| DEFICIT | the amount by which something, especially a sum of money, is too small. |
| SURPLUS | an amount of something left over when requirements have been met; an excess of production or supply over demand. |
| START UP COST | Non-recurring costs associated with setting up a business, such as accountant's fees, legal fees, registration charges, as well as advertising, promotional activities, and employee training |
| EQUITY | the value of the shares issued by a company. |
| DEBT | something, typically money, that is owed or due |
| REVENUE | income, especially when of a company or organization and of a substantial nature |
| PROFIT | a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something |
| LOSS | an amount of money lost by a business or organization |
| CASH FLOW | the total amount of money being transferred into and out of a business, especially as affecting liquidity |
| LINE OF CREDIT | an amount of credit extended to a borrower. |
| INTEREST RATE | the proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding. |
| ASSET | a useful or valuable thing, person, or quality |
| LIABILITY | person or thing whose presence or behavior is likely to cause embarrassment or put one at a disadvantage. |
| NET WORTH | a measure of what an entity is worth |
| COLLATERAL | something pledged as security for repayment of a loan, to be forfeited in the event of a default |
| CAPITAL | wealth in the form of money or other assets owned by a person or organization or available or contributed for a particular purpose such as starting a company or investing. |
| LOAN TERM | a monetary loan that is repaid in regular payments over a set period of time |
Created by:
MA0203
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