Chapter 12 Financial Management

Card Set Information

Author:
packerj1229
ID:
238089
Filename:
Chapter 12 Financial Management
Updated:
2013-10-01 10:53:06
Tags:
accounting financial management
Folders:

Description:
Its chapter 12 financial management vocabulary and learning skills.
Show Answers:

Home > Flashcards > Print Preview

The flashcards below were created by user packerj1229 on FreezingBlue Flashcards. What would you like to do?


  1. Operating Budget
    Financial plan for ongoing operations of the business for a specific period.
  2. budget
    Provides detailed plans for the financial needs of individuals, families, and business.
  3. Expenses
    The cost of operating a business.
  4. Revenue
    All income that a business receives.
  5. Financial Records
    Record and analyze the financial performance of a business.
  6. Cash Budget
    an estimate of the actual money received and paid out for a specific period.
  7. Assets
    Anything the company owns.
  8. Liabilities
    Anything that a company owes.
  9. Owner's equity
    the value if the owner's investment in the business.
  10. Balance Sheet
    The assets, liabilities, and owner's equity for a specific date that are listed.
  11. Income Statment
    to report the revenue, expenses, and net income or loss from operations for a specific period that a business prepares.
  12. Payroll
    the financial record of employee compensation, deductions, and net pay.
  13. Payroll records
    the documentation used to process earnings payments and record each employee's pay history.
  14. Direct Deposit
    The employer transfer net pay electronically into the employee's bank account.
  15. Financial Performance
    Companies of a company's financial elements that indicate how well the business is performing.
  16. Discrepanies
    Differences between actual and budgeted performance.
  17. Profit
    If the revenue is greater than expenses, the business will make this.
  18. Loss
    If the expenses exceed revenue, the business will suffer this.
  19. Business Budget
    Anticipate sources and amounts of income for a business.

What would you like to do?

Home > Flashcards > Print Preview