Chapter 12 Financial Management

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Bernardin
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238109
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Chapter 12 Financial Management
Updated:
2013-10-01 10:56:57
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Chapter 12 Financial Management Bernardin
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Cards for principles of administration chapter 12
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  1. Revenue
    All income that a business recieves over a period of time.
  2. Expenses
    are the costs of operating a business.
  3. Budget
    provides detailed plans for the financial needs of individials, families, and Businesses.
  4. Start-Up Budget
    Plans income and expenses from the beggining of a new business or a major business expansion until it becomes profitable.
  5. Operating Budget
    Describes the finacial plan for ongoing operations of the business for a specific period.
  6. Cash Budget
    Is an estimate of the actual money received and payed out for a specific period.
  7. Financial records
    Are used to record and analyze financial performance of a business.
  8. Balance sheet
    often prepared every six months or once a year.
  9. liabilities
    are what a company owes.
  10. owner's equity
    is the value of the owner's investment in the business.
  11. assets
    are what you own.
  12. Income statement
    usaully covers six months or a year, but may also encompass a shorter period such as a month

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