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401 Key Terms

Business Essentials

Accounting The process of keeping and interpreting financial records
Accounts payable All monies owned by the business to the others
Accounts receivable Finance activity involving making decisions about financing firm's investments
Asset's Anything of value that a business or individual owns
Capital budgeting A process in which a firms financial managers determine which projects it should invest in
Capital investment decisions Decisions that determine which projects a business will invest in, how the investment will be financed, and weather to pay dividends to share holders
Capital stuctre A firm's mix of financially, usually some combination of dept and equity
Cash Conversation cycle Ratio that prefers to the number of days between a company paying for raw materials and receiving cash from selling products made from those raw materials
Dept funding Using money that is lent by a bank or other institution to finance a project
Dividend A sum of money paid to an investor or stockholder aa earning s on an investment
Equity funding Using money from investors to finance in a project in exchange for shares in the company
Finance In business, the function that involves all the money and money management matters
Financing Funding a business activity or project through dept, equity, or venture capital
Return on capital A measure of how well a business generates cash flow in relation to the capital it has already invested in itself
Venture capital Invested money used for a new business opportunities
Working capital mangement Management of a firms current balance of assets and liabilities; involves accounts payable, receivable inventory, and cash
Accountant AN individual who has had specialized training in accounting procedures
Accounting The process of keeping financial records
Accounting cycle A process or series o steps that business complete to maintain their financial records effectively
Accounting standards Rules that accountant must follows when preparing financial statements
Accounting system The methods and procedure used in constantly handling the business
Accrual accounting method A method of accounting that records transactions at the time they occur even if no money changes hands at the time
Assets Anything of value
Balance sheet A financial statement that captures the financial condition of thus business at that particular moment
Bookkeeping The steps of the accounting cycle that involve recording each business transaction; the process of analyzing financial transactions, journalizing transactions, posting to ledgers, balancing the book
Cash Currency and coins
Cash accounting method An accounting method in which income and expenditures are recorded at the time the money changes hands
Cash flow statement A financial with estimates as to when, where, and how much money will flow into and out of a business
Credit The arrangement by which business or individuals can purchase now and pay later
Expenditures The monies that business spends; also called expenses
Expenses The monies that business spends; also called expenditures
Financial accounting A type of accounting that involves preparing and reporting financial data to external users who are not directly involved in business
Financial statement A summary of accounting information
Income Money received by a business or an individual from outside sources
Income statement A financial summary that shows how much money the business has made or has lost; also called the profit-and-loss statement
Investors Those who invest their funds in a business; may be owners or stockholders
Journal A special book or computer program in which a business's transactions are recorded in the order in the order in which they occur
Ledger The accounting record for a specific department or area of the business
Liabilities Depts that the business owes
Managerial accounting A type of accounting that involves preparing and reporting financial data to internal users, usually managers, who need financial information to control day-to-day operations and to make decision and plans affecting the business
Net worth The total value of the business
Owners' equity The amount an owner has invested in the business plus or minus profits and losses
Transaction A business activity such as a sale, a purchase, or a return
Created by: Pablo-
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