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Definition
amounts owed by a company to others
Located: Balance Sheet |
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Definition
money borrowed to purchase delivery trucks etc
Located: under Liability (Balance sheet) |
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Definition
represents the residual ownership of a corporate business (Neither dividends/assets)
Located: Under Stockholders' Equity (Balance Sheet) |
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Definition
| amounts due within one year or less and usually include accounts payable, accruals, loans due to be paid within a year, taxes due within a year, and so on. |
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Definition
| the amounts of mortgages, bonds, and long-term loans that are due more than a year in the future. |
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Definition
| a record of financial transactions; usually refers to a specific category or type, such as travel expense account or purchase account. |
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Term
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Definition
| amounts owed by the company for the goods or services it has purchased from outside suppliers. |
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Term
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Definition
| amounts owed to the company by its customers. |
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Term
| Accrued expenses, accruals |
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Definition
| an expense which has been incurred but not yet paid for. Salaries are a good example. Employees earn or accrue salaries each hour they work. The salaries continue to accrue until payday when the accrued expense of the salaries is eliminated. |
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Definition
| an increase in value. If a machine cost $1,000 last year and is now worth $1,200, it has appreciated in value by $200. (The opposite of depreciation.) |
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Term
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Definition
| things of value owned by a business. An asset may be a physical property such as a building, or an object such as a stock certificate, or it may be a right, such as the right to use a patented process. |
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Term
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Definition
| assets that can be expected to turn into cash within a year or less. Current assets include cash, marketable securities, accounts receivable, and inventory. |
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Term
Property, Plant, Equipment (PPE)
"Fixed Assets" |
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Definition
| cannot be quickly turned into cash without interfering with business operations. Fixed assets include land, buildings, machinery, equipment, furniture, and long-term investments. |
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Term
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Definition
| are items such as patents, copyrights, trademarks, licenses, franchises, and other kinds of rights or things of value to a company, which are not physical objects. These assets may be the most important ones a company owns. Often they do not appear on financial reports. |
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Term
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Definition
| a statement of the financial position of a company at a single specific time (often at the close of business on the last day of the month, quarter, or year.) The balance sheet normally lists all assets on the left side or top while liabilities and stockholders' equity are listed on the right side or bottom. A balance sheet balances according to this equation: Assets = Liabilities + Stockholders' Equity. |
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Term
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Definition
| the amount of actual cash generated by business operations, which usually differs from profits shown. |
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Term
| Cost of sales, cost of goods sold |
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Definition
| the expense or cost of all items sold during an accounting period. Each unit sold has a cost of sales or cost of the goods sold. In businesses with a great many items flowing through, the cost of sales or cost of goods sold is often computed by this formula: Cost of Sales = Beginning Inventory + Purchases During the Period - Ending Inventory. |
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