| A | B |
|---|
| accounting records | organized summaries of a business's financial activities |
| outsourcing | hiring an outside firm to perform specialized tasks |
| data processing center | an outsourcing firm that used computers to analyze & organize data for other businesses for a fee |
| point-of-sale terminal | cash register thatare connected to computers |
| accounts receivable recor | a record showing what each customer owes & pays |
| accounts payable record | a record showong money owed & payments made by the business |
| asset | anything of value that is owned |
| depreciation | gradual loss of an asset's value due to age & wear |
| fixed assets (plant assets) | material assets that will last a long time, such as land, equipment, & buildings |
| obsolescence | assets that become out of date or inadequate for a particular purpose |
| asset book value | original cost of an asset less accumulated depreciation |
| budget | a financial plan extending usully for one year |
| sales budget | a forecast of the sales revenue a company expects to receive for a month, a quarter, or a year |
| merchandising budget | a forecast of the amount of merchandise a company expects to sell to customers over a specified time period |
| advertising budget | a plan for the amount of money a firm should spend for advertising, based on estimated sales |
| cash budget | an estimate of the flow of cash into & out of the business over a specified time period |
| capital budget | a financial plan for replacing fixed assets or acquiring new ones |
| capital budget | a financial plan for replacing fixed assets or acquiring new ones |
| income statement budget | a plan showing projected sales, costs, expenses & profits for a future period |
