| A | B |
|---|
| financial plan | An outline of a business's expenses, needs, and goals, and how it expects to meet them |
| asset | Anything of value that a business or individual owns |
| financial forecast | An estimate of what business conditions will be like in the future |
| accounting | The systematic process of recording and reporting the financial position of a business |
| financial manager | The person in charge of a business's financial planning, funding, and accounting |
| budget | A planof expected income and expenses over a certain period of time |
| fiscal year | An accouting period in business of one year |
| owner's equity | The difference in value between a business's assets and liabilities, or what a business owns and what it owes |
| income statement | A report of a business's net income or net loss over a specific period |
| balance sheet | A report of the financial state of a business on a certain date |
