Finance Careers-Terms

A formal examination of a company's financial records for accuracy and compliance with regulations.

• accounting
• audit
• budget
• income statement

A plan that shows what you expect to earn and spend in a certain period of time.

• fiscal period
• income statement
• bank teller
• budget

A written report which describes the financial health of a company.
Examples include: balance sheet, income statement, statement of changes in owners equity

• financial statement
• balance sheet
• audit
• budget

Things owned by a company (items) _______.

Example: land, automobiles, furniture, paper, office machines, etc.

• liabilities

• assets

• belongings

• resources

A report showing all assets, liabilities, and owners equity of a business as of a specific date is called _____.

• income statement

• accountant

• balance sheet

• revenue report

Money owed by a business (debts, accounts payable, taxes) is the businesses _________.

• assets
• revenue
• profit
• liabilities

Net worth of the business is called _________.

• Profit Goal

• Owners Equity

• Budget

• Loss

A report showing the revenue, expenses, and income (or loss) of a business.

• income statement
• balance sheet
• budget report
• expense and income report

The amount of money that a company earns is called _____________.

• profit

• paid expenses

• revenue

• loss

The results when a business' income is greater than its expenses.

• revenue

• loss

• income increase

• profit