Business Management (Deck B)

Front

Define Cash Flow Statement

Back

A financial report that summarises cash transactions involving cash flowing into and out of the business over a period of time.

Front

What are the components of a Cash Flow Statement?

Back

Opening balance, cash inflow, total income, cash outflows, total expenses and closing balance.

Front

Define an Income Statement

Back

A summary of all the revenues generated for the business and all the expenses incurred to earn that revenue, generally for a specific period of time.

Front

What is the Income Statement Equation?

Back

Revenue - Expenses = Profit

Front

Define the Balance Sheet

Back

A balance sheet provides a snapshot of a business's financial stability at a particular point in time, showing what the business owns, what it owes, and the owner’s investment.

Front

What is the Balance Sheet Equation?

Back

Assets = Liabilities + Owners Equity

Front

What are the components of a Balance Sheet?

Back

Assets, current assets, liabilities, current liabilities, non-current liabilities and owners equity.

Front

Define ‘acquisition’ (Human Resources- Staffing process)

Back

The process of attracting and recruiting the right staff for roles in a business.

Front

Define ‘development’ (Human Resources- Staffing process)

Back

The process of preparing employees to take on more responsibilities through acquiring better knowledge and skills.

Front

Define ‘maintenance’ (Human Resources- Staffing process)

Back

The provision of working conditions to encourage employees to remain with the business.