| A | B |
|---|
| Record Keeping | Keeping a detailed report of personal and business income and expenses. |
| Records/Financial Analysis | Deals with the relationship between inputs and outputs and developing financial reports |
| Opening Balance | The balance that an account starts with for the year |
| Cash on Hand | All personal cash accounted for on hand. (i.e. - wallet and home) |
| Savings account | Account in which interest is paid on funds deposited by the account holder |
| Checking Account | Banking account against which depositor may write checks. |
| Income | Payment received from the sale of goods and or servies involved which can be cash or non-cash gifts. |
| Expense | Cost of goods or services invovled with producing a product or service or personal, non-business expense. |
| Cash Flow Report | Statement of expenses and receipts during a month or year. |
| Assets | Anything of value owned by a business or individual. |
| Liabilities | Money, goods, and or servies which are owed (debt). |
| Inventory | Listing and valuation of all assets and liabilities. |
| Quicken | Computer program used to track income and expenses. |
| SAE | Supervised Agriculture Experience - a hands on program to teach students agriculture skills |
| Ending Balance | The balance in an account on December 31. |
| Net Worth | Assets subtracted from Liabilities |
