Financial Terminology EBE

Cost minimization

• Paying less taxes

• Raising funds

• The practice of reducing costs to increase profitability without compromising on quality or efficiency.

Financial Planning and Analysis

• Managing assets

• The process of forecasting, budgeting, and analysing financial data to support strategic decision-making.

• Crunching the numbers

Financial Reporting

• The preparation of financial statements and other reports that provide a summary of an organisation's financial performance.

• Telling the government what the business is up to

• Having financial authorities auditing the business

Accounting and Bookkeeping

• Counting money and keeping files

• The process of recording financial transactions and maintaining financial records

• The study of accountancy and national bank archives

Financial risk management

• Managing your toughest competition in the world of business

• Buying and selling risky stocks and shares

• The analysis and management of an organization's exposure to financial risks, such as market risk, credit risk, and operational risk.

Financial Compliance

• The process of adhering to financial regulations, laws, and standards to ensure proper financial practices and reporting.

• Paying taxes on time

• Not engaging in money laundering or use of illicit funds

Tax Planning and Management

• Paying the lowest rate of business or corporate tax possible

• Planning how to avoid tax and hide money in offshore accounts

• The planning and management of taxes to minimise tax liability and ensure compliance with tax laws

Treasury Management

• Working with the treasury department of the government

• The strategic process of optimising an organisation's cash flow, liquidity and financial investments

• Storing all your cash and assets in a treasure box

Financial Systems and Technology

• The use of technology systems to manage financial data, processes, and operations efficiently.

• Finance, Operations, Management and People

• Using software to take payments