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25 Cards in this Set
- Front
- Back
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An entrepreneur is |
Someone who emabrks on owning and running a bussiness |
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What is a bussiness plan? |
An outline of the actions needed to achieve in bussiness |
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What is break even point? |
The point which costs equal total revenue ( from sales) |
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Define accounting |
The collection and use of financial data |
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Define cash flow statement |
The measure of the actual cash coming into the bussiness and the cash going out to pay bills |
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A monthly cash flow is in surplus when? |
Reciepts exceed payments |
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What is the mark up policy? |
A system where the price set is at a fixed percentage above the actual cost |
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Define Cash Budget |
An estimation for future payments and reciept. |
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Define Bank Balance |
What you start of at the start of the month. |
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What is a variance report? |
Comparing your estimation with the actual value. Then decide by a F or a U. Favorable or unfavorable |
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What is meant by anazlyse? |
Giving back to the client |
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Define Broker |
A person who buys and sells goods or assets for others! |
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Define Dividened |
A sum of money paid regularly by a company to its share holders out of its profits. |
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Define Managed Funds |
An investment fund run on behalf of an investor by an agent. |
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Define Shares |
A part or portion of a larger amount which is divided among a number of people. |
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Define Superannuation |
Regular payments made into a fund by an employee towards future pension |
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Define Stock Market |
A market in which securities are brought and sold |
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Define Dopisit |
A sum of money paid into a bank or building society account |
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DEFINE service bussines |
Is defined as one that provides time, labor or expertise in return for some kind of fee. |
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What is a cash reciept journal? |
A speacised accounting journal user in an accounting system to keep track of sales of items when cash is received. |
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Define cash payment journal |
Records transactions that involves expenditures paid with cash. |
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Define GST payable |
Amount of GST owed on goods and services provided by supplier. |
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GST settlement |
GST payable is the amount of GST paid by the bussiness for goods and services provided by suppliers. |
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GST RECIEVABLE |
Gst recieved by the bussiness for goods and service supplied to customers |
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GST Refun |
Gst refunded by the government |
