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BUSINESS FINANCIAL RECORDS
NOVEMBER 17, 2009
18
Business
12th Grade
11/17/2009

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Term
FINANCIAL RECORDS
Definition
(ALSO CALLED ACCOUNTING REOCRDS)ARE ORGANIZED SUMMARIES OF A BUSINESS'S FINANCIAL INFORMATION AND ACTIVTIES.
Term
DATA-PROCESSING CENTER
Definition
IS A SPECIALIZED BUSINESS THAT PROVIDES FULL SET OF COMPUTERIZED FINANCIAL RECORDS TO OTHER BUSINESSES FOR A FEE
Term
ACCOUNTS RECEIVABLE RECORDS
Definition
A RECORD SHOWING WHAT EACH CUSTOMERS OWNES AND PAYS
Term
ACCOUNTS PAYABLE RECORDS
Definition
A RECORD SHOWING MONEY OWNED AND PAYMENTS MADE BY EACH BUSINESS
Term
ASSET
Definition
THINGS OWNED, SUCH AS CASH AND BUILDINGS.
Term
DEPRECIATION
Definition
DECREASED IN THE VALUE OF AN ASSET DUE TO WEAR ANG AGE
Term
FIXED ASSETS
Definition
EXPENSIVE ASSETS OF A BUSINESS THAT ARE EXPECTED TO LAST AND BE USED FOR A LONG LAST TIME
Term
BUDGETS
Definition
IS WRITTEN FINANCIAL PLAN FOR BUSINESS OPERATIONS DEVELOPED FOR A SPECIFIC PERIOD OF TIME
Term
START-UP BUDGET
Definition
PROJECT INCOME AND EXPENSES FROM THE BEGINNING OF A NEW BUSINESS UNTIL IT BECOMES PROFITABLE
Term
OPERATING BUDGET
Definition
IS A PLAN SHOWING PROJECTED SALES, COSTS, EXPENSES, AND PROFITS FOR THE ONGOING OPERATIONS OF A BUSINESS
Term
CASH BUDGET
Definition
IS AN ESTIMATION OF THE FLOW OF CASH INTO OUT OF THE BUSINESS OVER A SPECIFIC TIME PERIOD
Term
SALES BUDGET
Definition
IS A FORECAST OF THE SALES REVENUE A COMPANY EXPECTS TO RECEIVE IN A MONTH, A QUARTER (THREE MONTHS), OR A YEAR.
Term
CAPITAL BUGDGET
Definition
IS A FINANCIAL PLAN FOR REPLACING FIXED ASSETS OR AQUIRING NEW ONES
Term
FINANCIAL STATEMENTS
Definition
Term
BALANCE SHEETS
Definition
Term
LIABILITES
Definition
Term
CAPITAL
Definition
Term
ACCOUNTING EQUATION
Definition
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