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buisness finance std
| Term | Definition |
|---|---|
| accounting | organizing a system of financial records, recording financial data, and preparing, analyzing, and interpreting financial statements |
| equities | financial claims on a company's resources from creditors or owners |
| fundamental accounting equation | assets = liabilities + owners equity |
| accounts | financial records for each of the specific assets, liabilities, and categories of owners equity |
| accounting transaction | act of recording a financial activity resulting in a charge in value of an organizations resources |
| accounting cycle | series of steps performed to ensure the completeness and accuracy of accounting records and to prepare summary financial statements |
| accrual accounting | accounting procedure that recognized revenues and expenses when they are incurred rather than when cash is received or spent |
| due care | commitment to completing all tasks thoroughly and with the highest level of quality |
| information system | a structured set of processes, people, and equipment use for converting data into information |
| information integrity | information remains unchanged from its source, has not been accidentally or maliciously altered, modifies, or destroyed |
| annual report | statement of a company's operating and financial performance issued at the end of its fiscal year. |
| Chief executive officer(CEO) | charged with carrying out the strategy and policy of the board of directors |
| chief operating officer(COO) | directs business operations |
| chief financial officer(CFO) | responsible for planning and managing financial resources |
| equity financing | offers and ownership interest in a company to investors |
| debt financing | use of borrowed money to obtain needed assets |
| retained earnings | profits earned by a company that are not paid to share holders as dividends |
| solvency | ability of an organization to meet its financial obligations as they become due |
| financial ratios | comparisons of important financial data used to evaluate business performance |
| ratio analysis | study of relationships in a company's finances in order to understand and improve financial performance |
| financial leverage | using debt financing to increase the rate of return on assets |
| operating income | company's earning before interest and taxes |
| benchmark company | competitor that has historically demonstrated outstanding financial performance |
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