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MIDTERM TECHNO
| Question | Answer |
|---|---|
| the process of recording, Summarizing, analyzing, and reporting financial transactions and information of a business or organization. | Accounting |
| provides insights into the financial health, performance, and position of the entity | Accounting |
| what are main branchesof accounting | financial accounting managerial accounting cost accounting auditing tax accounting forensic accounting |
| This branch focuses on the preparation of financial statements for external users, such as investors, creditors, and regulators. It involves recording, summarizing, and reporting financial transactions of a business. | financial accounting |
| Also known as management accounting, this branch involves providing information to internal users, such as management, to support decision-making, planning, and control within an organization. | Managerial Accounting - |
| involves analyzing and recording the costs of producing goods or services within an organization. It helps in cost control, cost reduction, and improving profitability | Cost Accounting |
| involves examining and evaluating the financial statements and records of an organization to ensure accuracy, compliance with laws and regulations, and adherence to accounting standards. | Auditing |
| deals with the preparation, analysis, and planning of tax payments and returns. It involves ensuring compliance with tax laws and maximizing tax efficiency. | Tax Accounting |
| involves investigating financial discrepancies and fraud within an organization. It often requires specialized accounting and investigative skills. | Forensic Accounting |
| assets is equal to what | liabilities plus owner's equity |
| Properties that are owned and have money value (cash, accounts receivable, inventory, buildings, equipment, intellectual property) | Assets |
| Amounts owed to outsiders (loans, amortizations, accounts payable, bonds payable) | Liabilities |
| The interest of the owners in a business; also known as owners’ equity | Capital |
| are key reports that summarize the financial activities and position of a business | Financial statements |
| what are the types of financial statement | balance sheet income statement cash flow statement |
| This financial statement summarizes a company's financial condition according to the basic accounting equation. This statement shows the assets, liabilities, and owner's equity of a business at a specific time. This statement is also called a statement | Balance sheet - |
| Accounting follows a ____ , which means that every financial transaction has two entries. One entry represents a debit (increase) and the other entry represents a credit (decrease) in different accounts. | double-entry system |
| This system ensures that the accounting equation (Assets = Liabilities + Equity) remains balanced. | double-entry system |
| This financial statement describes how much a company earned while the business was operating and what costs were incurred to generate those revenues. It summarizes the revenue (income), expenses, and net income (profit or loss) of a business for a specif | Income (profit-and-loss) statement |
| the increase in capital resulting from the delivery of goods or rendering of services by the business. In terms of amount, the revenue is equalto the cash and receivables gained in compensation for the goods delivered or services rendered. | Revenue |
| The decrease in capital caused by the business's revenue-producing operations. In amount, the expense is equalto the value of goods and services used up or consumed in obtaining revenue. | Expenses |
| The increase in capital resulting from profitable operation of a business; it is the difference in revenue and expenses for the accounting period. | Netincome: |
| This financial statement provides information about the cash inflows and outflows from operating, investing, and financing activities, reflecting the changes in cash and cash equivalents. | Statement of cash flows |
| provide insights into the financial performance and health of a business. | Financial ratios |
| Measures the ability of a business to generate profits, such as gross profit margin, net profit margin, and return on equity. | Profitability Ratios - |
| Assesses a business's ability to meet short-term obligations, such as the current ratio and quick ratio. | Liquidity Ratios |
| Evaluates the long-term financial stability and ability to meet long-term obligations, such as the debt-to-equity ratio and interest coverage ratio. | Solvency Ratios |
| Account that includes vendors that the company owes money to | Accounts payable |
| Account that includes customers that owe the business money | Accounts receivable |
| Exchanging goods or services for other goods or services instead of for cash | Bartering |
| Level of operations that results in exactly enough revenue to cover costs | Break-even point |
| Rate at which cash outflow exceeds cash inflow | Burnrate - |
| Money collected by the business through revenue and funding versus money disbursed by the business through expenses | Cash flow |
| Something of value pledged to secure a loan | Collateral |
| Gross profit from a single item sold | contribution margin |
| cost required to produce the product or service | Cost of goods sold |
| Section of the statement of cash flows that shows where new infusions of cash are coming from | Financing activities |
| Major purchases with a long life, such as buildings, land, and so on | Fixed assets |
| costs that do not change, regardless of the amount of sales | Fixed costs |
| Selling price of a product or service minus its direct costs | Gross profit |
| Section of the statement of cash flows that shows major purchases of equipment or facilities | Investing activities |
| Company lifecycle stage in which the business has reached commercial viability | Mature stage - |
| Revenue minus expenses | Net income - |
| Section of the statement of cash flows that shows day-to-day activities of the business, such as purchasing supplies, paying rent, and receiving cash from customers | operating activities |
| Amount by which revenue exceeds costs, typically described as a percent | Profit margin |
| Forecast of the future operations ofa business | Projection |
| Amount a business earns through product sales or providing a service | Revenue |
| Cost of running a business over a specified period of time | Run rate |
| Company lifecycle stage in which the business is largely stillan idea | Seed stage |
| Costs that fluctuate with the level of revenue | Variable costs - |
| Funds available for day-to-day operations | Working capital |
| this involves selling shares of ownership in the business to investors in exchange for capital. The investors become shareholders and have a stake in the company's performance and profits. | Equity Financing - |
| This involves borrowing money from lenders, such as banks, financial institutions, or individual investors, with an agreement to pay back the principal plus interest over time. Debt financing can include loans, bonds, lines of credit, or other forms of | Debt Financing |
| Individual or investment companies that specialize in funding startup companies. | Venture Capital (or Venture Capital Companies) |
| this involves obtaining funding from government agencies, non-profits, or other organizations that provide financial support for specific projects, research, or initiatives. Grants typically do not require repayment, but often come with specific condit | Donations and Grants |
| This involves selling shares of the company to the public through a stock exchange (i.e. the Philippine Stock Exchange), providing access to a wider pool of investors and potentially raising a large amount of capital. | Initial Public Offering (IPO) |
| This involves funding the business using personal savings, credit cards, or other personal resources without seeking external funding. This is usually for small or early-stage businesses that have limited capital needs or are not yet able to attract in | Bootstrapping |
| Wealthy, private individual seeking investment options with a greater potential return than is generally available with traditional publicly traded stocks. | Angel investor |
| Pooling small amounts of money from a large number of people. Popular crowdfunding platforms include Kickstarter, GoFundMe, Patreon, and Indiegogo. | Crowdfunding |
| Specific amount of money or type of assistance requested in a pitch | Ask |
| Lending of funds in exchange for a promise to repay | Credit |
| Company lifecycle stage in which the product or service has started development | Early stage |
| A memorized talk that can get you into the door to put your full pitch deck on display | Elevator pitch |
| At which the venture is sold, at which time the investors receive a return on their investment | Harvest point |
| Formal presentation in which you ask for something and that is delivered (usually) to potential investors in a startup | Pitch |
| A reasonable estimate of a company's worth or value | Valuation |
| the set of attributes that people associate with a company. | Brand |
| These attributes can be positive, such as trustworthy, innovative, dependable, or easy to deal with. They can also be negative, such as cheap, unreliable, arrogant, or difficult to deal with. | Brand |
| program used to protect the image and value of an organization’s brand in consumers’ minds. | Brand management |
| the term that denotes the set of assets and liabilities that are linked to a brand and enables it to increase a firm's valuation. | Brand equity |
| 4ps of Marketing | product place price promotion |
| n the context of its marketing mix; is the good or service it offers to Its target market. | company’s product, |
| the amount of money consumers pay.to buy a product. Itis the only element in the marketing concept that produces revenue; all other elements represent costs. | Price |
| The product is priced by taking the cost of making the product and marking it up to create profit. | Cost-led pricing |
| The price is determined by what the customer is willing to pay for the product. | Customer-led pricing / Value-based pricing - |
| using a below-standard price to attract customers in the hope that they will purchase other, more profitable goods and services. | Loss leader pricing |
| Psychological pricing strategy that uses odd numbers in the prices to make a product’s price point more attractive to consumers. | 0dd numbers strategy |
| Pricing below that of a competitor's price | Penetration pricing |
| refers to the actions the business takes to communicate the merits of its product to its target market. Ultimately, the goal is to persuade people to buy the product. Advertising is making people aware of a productin‘hopes of persuading them to buy it. | Promotion |
| Online marketing | Digital marketing |
| Marketing designed to move established companies and their products into new markets and territories | Expeditionary marketing |
| Creative approaches to marketing that seek to gain maximum exposure through unconventional means | Guerrilla marketing |
| Seeks to turn immediately available sales data into actionable and timely strategies that target the shifting landscape of consumer tastes and trends | Real-time marketing |
| Creates customer loyalty through personal interaction and strives for long-term engagement | Relationship marketing |
| Uses engaging content in the hopes that viewers will share it on their personal and social media networks | Viral marketing |
| Promotion in which a satisfied customer tells others about their positive experience with a good or service | Word-of-mouth (WOM) marketing |
| encompasses all the activities that move a business’ product from its place of origin to the consumer. | Place, or distribution, |
| is the route a product takes from the place it is made to the customer who Is the end user. | distribution channel |
| Using lower initial prices to attract new customers and build a customer base before prices return to their standard amount | Introductory offers |
| Analysis of the overallinterest in the product or service within the industry by its target market | Market analysis |
| Unmet need within a target demographic | Market opportunity |
| Collection and analysis of data related to a business's target market | Market research |
| Company's game plan for how it will reach consumers and convert them into paying customers | Marketing strategy |
| Portion of the market that a business can serve based on its products, services, and location | Serviceable available market (SAM) |
| Specific group of consumers for which a company seeks to provide a good or service | Target market |
| Selecting a customer group based on their ability and willingness to buy | Targeting |
| Total perceived demand for a product or service within the marketplace | Total available market (TAM) |
Created by:
rezzie