studying Finance vocab

A plan that shows what you expect to earn and spend in a certain period of time.

• Budget

• Accounting

• Revenue

• Profit

Costs of maintaining and operating a business.

• Financial Manager

• Auditor

• Expenses

• Owner's Equity

A report showing the revenue, expenses, and income (or loss) of a business for a specific period.

• Expenses

• Income Statement

• Loss

• Balance Sheet

A financial statement that reports the changes (deposits/withdrawals) that have occurred during the fiscal period.

• Statement of Change in Owner's Equity

• Revenue

• Bank Teller

• Liabilities

A top-level professional responsible for a business's overall financial operations.

• Auditor

• Certified Public Accountant (CPA)

• Fiscal Period

• Financial Manager

Results when a business's expenses are greater than its income.

• Loss

• Audit

• Profit

• Balance Sheet

Things (items) of value owned by a company.

• Income Statement

• Assets

• Accountant

• Accounting

The system of recording and reporting financial activity and transactions. 

• Liabilities

• Accounting

• Revenue

• Financial Manager

A formal examination of a company’s financial records for accuracy and compliance with regulations.

• Income Statement

• Fiscal Period

• Audit

• Owner's Equity

Results when a business's income is greater than its expenses.

• Expenses

• Profit

• Loss

• Budget