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Accounting & Finance

Praxis

TermDefinition
Accounting cycle 1. Transactions 2. Journal Entries 3. Posting debits & credits 4. Adjusting the trial balance 5. Preparing financial statements 6. Closing the temporary accounts
Accounting process Step 1: Identifying Business Stakeholders Step 2: Understanding Accounting Needs Step 3: Identifying Accounting Transactions Step 4: Recording Transcations Step 5: Preparing Accounting Reports
Balance Sheet A statement that reports a company's assets, liabilities, and owners equity at a particular point.
Income Statement Is a financial statement that shows a company's revenues, & expenses over a period of time.
Cash Flow The total amount of money being taken in and out of your business.
Business Finance Business owner obtains money to start a new business.
Personal Finance Planning & managing of money and financial decisions.
Executive Summary Summarizes a longer report or proposal
Product/Service Plan Discuss your product or service in the business plan
Industry/Market Analysis Studies the attractiveness and the dynamics of a special market
Operational Plan Is the process of planning strategic goals
Created by: adavisas
Popular Business sets

 



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