Starting a proprietorship

The process of planning, recording, analyzing, and interpreting financial information.

• Accounting

• Computing

• Networking

• Bookkeeping

A planned process designed to compile financial data and summarize the results in accounting records and reports.

• Accounting System

• Accounting

• Financial Statements

• Net Worth Statement

Financial reports that summarize the financial condition and operations of a business

• Financial Statements

• Net Worth Statement

• Personal Net Worth Statement

• Equity Statement

A formal report that shows what an individual owns, what an individual owes, and the difference between the two.

• Net Worth Statement

• Financial Statement

• Personal Statement

• Equity Statement

Anything of value that is owned.

• Asset

• Liability

• Cash

• Capital

An amount owed, oftentimes to a bank or financial institution.

• Liability

• Asset

• Equity

• Capital

The difference between personal assets and personal liabilities.

• Personal Net Worth

• Equity

• Capital

• Cash

In business, this is another name for net worth.

• Equity

• Capital

• Cash

• Stocks

The principles of right and wrong that guide an individual in making decisions we call ethics. Give an example of using ethics in a workplace setting.

This is the use of ethics in making business decisions.

• Business Ethics

• Business etiquette

• Common sense

• Business Meetings