Card Set Information
PBA ch.12 flash cards
All income that a business receives over a period of time.
The costs of operating a business.
detailed plans for the financial needs of individuals, families, and businesses.
plans income and expenses from the beginning of a new business or major business expansion until it becomes profitable.
the financial plan for ongoing operations of the business for a specific period.
an estimate of the actual money received and paid out for a specific period.
record and analyze the financial performance of a business.
what a company owns
what a company owes
the value of the owners investment in the business
the assets, liabilites, and owners equity for the specific date are listed on this sheet.
to report the revenue, expenses, and net income or loss from operations for a specific period, a business prepares this.
the financial record of employee compensation deductions, and net pay.
the documentation used to process earnings payments and record each employees pay history.
when the employer transfers net pay electronically into the employees bank account.
comparisons of a companys financial elements that indicate how well the business is performing
financial performance ratios
differences between actual and budgeted performance
current assets compared to the current liabilities is.
the company's liabilities divided by the owners equity
debt to equity ratio
reports the sum up the financial performance of the business
the three key financial elements for a business are the amount of
sales, expenses and profits
when expenses exceed revenue, the business will suffer this
all taxes collected owed and paid
maintains information on each employee to be able to calculate the companys payroll and to make the necessary payments to ecah employee
identify the type and quantity of resources and products on hand along with the current value of each