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| Financial Planning | A process used to achieve financial success based upon the development and implementation of financial goals and planning |
| Budget | A detailed plan for financial needs of individuals, families, and businesses. |
| Start-up Budget | A budget that plans income and expenses from the beginning of a new business, or a major business expansion until it becomes profitable, |
| Operating Budget | A budget that is used for ongoing business operations for a specific period |
| Cash Budget | An estimate of the actual money received and paid out for a specific period / used to estimate cash flow in and out of a business. |
| Asset Records | Name the buildings and equipment owned by the business, their original and current value, and the amount owed if money was borrowed to purchase the assets. |
| Depreciation Records | Identify the amount assets have decreased in value due to their age and use. |
| Cash Records | Financial records that list all cash received and spent by the business |
| Payroll Records | Financial records that contain information on all employees of the company, their compensation, and benefits. |
| Tax Records | Financial records that show all taxes collected, owed, and paid. |
| Financial Statements | A picture of the financial performance of a business. |
| Financial Performance Ratios | Comparisons using a company's financial data to determine how well the business is performing. |
| Current Ratio | This ratio shows the ability of a company to pays its debts as they become due / current assets compared to current liabilities |
| Debt to Equity Ratio | The ratio that compares how much the company relies in money that is borrowed externally versus money attained within the business. |
| Net Income Ratio | The ratio that shows how much profit is being made by each dollar of sales for the period being analyzed. |
| Return on Equity Ratio | The ratio that indicates the rate of return the owners/stockholders are receiving on their investments. |
