Financial Terminology (30 Terms)

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CashFlow
the total amount of money being transferred into and out of a business
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Accounts
a record or statement of financial expenditure and receipts relating to a particular period or purpose.
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Gross profit
is the profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.
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Net Profit
is calculated by subtracting a company's total expenses from total revenue, thus showing what the company has earned (or lost) in a given period of time (usually one year).
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Capital
wealth in the form of money or other assets owned by a person or organization or available for a purpose such as starting a company or investing.
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Debtor
a person, country, or organization that owes money
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Creditors
a person or company to whom money is owing.
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Balance Sheet
a statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.
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Tax
a compulsory contribution to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions.
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VAT
is a consumption tax added to a product's sales price. It represents a tax on the "value added" to the product throughout its production process.
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Assets
an item of property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.
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Depreciation
a reduction in the value of an asset over time, due in particular to wear and tear.
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Investments
the action or process of investing money for profit.
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Accruals
Short-term liabilities (such as interest, taxes, utility charges, wages) which continually occur during an accounting period but are not supported by an invoice or a written demand for payment.
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Stock
A share of a company held by an individual or group
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Liabilities
the state of being legally responsible for something.
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Shares
one of the equal parts into which a company's capital is divided, entitling the holder to a proportion of the profits.
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Card 2

Front

a record or statement of financial expenditure and receipts relating to a particular period or purpose.

Back

Accounts

Card 3

Front

is the profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.

Back

Preview of the back of card 3

Card 4

Front

is calculated by subtracting a company's total expenses from total revenue, thus showing what the company has earned (or lost) in a given period of time (usually one year).

Back

Preview of the back of card 4

Card 5

Front

wealth in the form of money or other assets owned by a person or organization or available for a purpose such as starting a company or investing.

Back

Preview of the back of card 5
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