The finances of business lesson 9 flash cards
1. What is a budget?
A budget is a financial plan that outlines an organization's expected income, expenses, and profits over a specific time period.
2. What is a balance sheet?
A balance sheet is a financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time.
3. What is revenue?
Revenue is the total amount of money earned by a business from the sale of goods or services.
4. What are expenses?
Expenses are the costs incurred by a business in order to generate revenue. They include things like salaries, rent, utility bills, etc.
5. What is profit?
Profit is the amount of money left over after subtracting all expenses from revenues. It is a measure of how well a business is doing financially.
6. What is cash flow?
Cash flow is the movement of money into and out of a business. It includes both the inflows (revenue, loans, investments) and outflows (expenses, loan repayments).
7. What is a profit and loss statement?
A profit and loss statement, also known as an income statement, shows the revenues, expenses, and resulting profit or loss of a business over a specific period of time.
8. What is a break-even point?
The break-even point is the level of sales at which a business neither makes a profit nor incurs a loss. It is the point where total revenue equals total expenses.
9. What is return on investment (ROI)?
ROI is a measure of the profitability of an investment. It is calculated by dividing the net profit from an investment by its initial cost and expressing it as a percentage.
10. What is working capital?
Working capital is the amount of money a company has available for its day-to-day operations. It is calculated by subtracting current liabilities from current assets.
Sure! Here are some flashcards for lesson 9 on the finances of business:
Flashcard 1:
Term: Income Statement
Definition: An accounting statement that shows a company's revenues, expenses, and net income or loss over a specific period of time.
Flashcard 2:
Term: Gross Profit
Definition: The difference between a company's net sales and its cost of goods sold. It indicates the profitability of a company's core operations.
Flashcard 3:
Term: Operating Expenses
Definition: Costs incurred by a company in its day-to-day operations, such as salaries, rent, utilities, and marketing expenses.
Flashcard 4:
Term: Net Income
Definition: The amount by which revenues exceed expenses, also known as the bottom line or profit.
Flashcard 5:
Term: Earnings Before Interest and Taxes (EBIT)
Definition: A measure of a company's profitability before taking into account interest and tax expenses.
Flashcard 6:
Term: Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)
Definition: A measure of a company's operating performance that adds back non-cash expenses such as depreciation and amortization to EBIT.
Flashcard 7:
Term: Balance Sheet
Definition: A financial statement that provides a snapshot of a company's financial position at a specific point in time, showing its assets, liabilities, and owner's equity.
Flashcard 8:
Term: Assets
Definition: Resources owned by a company that have future economic value, such as cash, accounts receivable, inventory, and property.
Flashcard 9:
Term: Liabilities
Definition: Debts or obligations owed by a company to external parties, such as loans, accounts payable, and accrued expenses.
Flashcard 10:
Term: Owner's Equity
Definition: The residual interest in the assets of a company after deducting liabilities, representing the owner's claims on the company's assets.
Note: Feel free to customize these flashcards or add more terms that are specific to your lesson.
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