NOCTI-EOPA REVIEW 1

money a business earns above and beyond the money that it spends for salaries and other expenses

• price
• product
• profit
• increase

books in which financial records are written

• checking account
• ledger
• trial balance
• bank statement

a summary of all the financial data in the account ledgers that ensures the figures are correct and balanced

• credits
• losses
• ledger
• trial balance

a yearly statement of the financial condition, progress, and expectations of an organization.

• annual report
• trial balance
• summary statement
• bank account

a financial statement showing revenue, expenditure and profit during a given period

• account summary
• bank account
• profit and loss account
• credits and debits

a financial statement showing revenue, expenditure and profit during a given period

• P&L Account begins with
• PB&J Account begins with
• P&L Account ends with
• PB&J Account ends with

earnings (= profit / the bottom line)

• P&L Account begins with
• PB&J Account begins with
• P&L Account ends with
• PB&J Account ends with

manufacturing costs, wages of blue-collar workers, transport costs etc.

• manufacturing
• depreciation
• trial balance
• cost of goods sold

salaries of sales and office staff, marketing costs, rent etc.= overheads

• profits
• operating expenses
• increase margins
• sales promotion

profits from investments in other companies

• non operating income
• bank account
• balance statement
• income statement