| A | B |
|---|
| Annual report | A profile of the healt of a company. |
| Balance sheet | A finacial statement that list the assets, liabilities, and capital of a business as of a specific date. |
| Assets | Resources of monetry value owned by the business. |
| Current assets | Assets that can be changed into cash in a short period of time. |
| Accounts recevable | Money that is owed to the company by clients. |
| Fixed assets | Assets which cannot be quickly converted to cash. |
| Intangible assets | Items such as life insurance policies, copyrights, franchises, and parents with values that are difficult to ascertain. |
| Liabilities | Debts owed by the company. |
| Current Liabilities | Debts that areusually paid within one year. |
| Long-term liabilities | Debts that will take longer than one year to pay off. |
| Equity (Captial, net worth, or shareholders' capital) | The value of a business to its owners (shareholder) after all the commitment have been met. |
| Income statement (Profit and loss statement) | A financial statement that reports total revenue, expenses, and profit or loss for a specific period of time. |
| Sales | The total income from sales of all products and services |
| Gross profit | Sales minus the cost of goods sold. |
| Depreciate | The decreases in value of tangible assets. |
| Net income (or loss) | Gross profit minus operating expenses and taxes. |
