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10 Cards in this Set
- Front
- Back
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financial plan
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an outline of your expenses, needs, and goals, and how you expect to meet them
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asset
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any property or item of value that your business owns
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financial forecast
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an estimate of what business conditions will be like in the future
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accounting
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the systematic process of recording and reporting the financial position of a business
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financial manager
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the person in charge of a business's financial planning, funding, and accounting
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budget
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a written plan of what you expect your income and expenses to be over a certain period of time
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fiscal year
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if the reports are for one year, this is the accounting period
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owner's equity
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the claims made by banks or investors that go against the assets of your business
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income statment
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a report of net income or net loss over an accounting period
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balance sheet
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a report of the financial state of your business on a certain date
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