3.4 Financial documents IGCSE

Front

Auditing

Back

Accounting procedure that checks thoroughly the accuracy of a company's accounts.

Front

Audit

Back

Official examination of a company's financial records in order to check that they are correct.

Front

Capital employed

Back

Amount of money invested in a business.

Front

Current assets

Back

Assets likely to be changed into cash within a year.

Front

Current liabilities

Back

Debts that have to be repaid within a year.

Front

Fixed assets

Back

Resources that are used repeatedly for a period of time by a business such as property, tools, vehicles and machinery.

Front

Goodwill

Back

Value that a company has because it has a good relationship with its customers and suppliers.

Front

Gross pay

Back

Pay before deductions, such as tax.

Front

Gross profit

Back

Sales revenue less cost of sales.