The good news with this list there will be not test. Just an opportunity for you to have a better understanding of what the heck I am talking about when I write articles on business. I hope it helps.
Glossary of Business
Accounting-system of managing financial activity of a business
Accounting software-automates many of the functions of business accounting
Action cycles-a system of managing tasks to complete production goals
Administrative costs-expenses related to business management
Advertising-mechanism to create awareness, educate and attract customers
Assets-items of monetary value owned by the business
At-will employment-allows employer to hire and terminate employees without cause.
Break-even-level at which business income matches expenses
Budget-a system to monitor and project business financial activity
Business expenses-costs of doing business as defined by the Internal Revenue Service
Business goals-establishing an end and a means to get there.
Business plan-a device used to map out the direction a business wants to go. Used to assess business growth and mission.
Capital-accumulated liquid and tangible assets of a business
Capital expense-costs associated with acquiring assets
Cash flow-measures income and expense trends in a business
Cash flow forecast-projects future business income and expense
Closing the sale-the final steps in selling your product or service
Compensation-financial considerations given to employees or contract labor
Consultations-used to educate and gather information from clients
Contract labor-non employees who provide specific job functions for our business
Cost of obtaining business-expenses related to attracting new and existing clients to our business
Cost of sales (COS)-expenses related to producing the products we sell
Cost of sales (COS) percentage-the portion of gross sales related to cost of sales expense
Custodial accountant-an individual who handles regular record keeping of business finances
Database-a collection mechanism to hold customer or financial data and records
Depreciation-expensing and recapturing capital investment
Depreciation rules-government regulations on the amount of capital, which can be deducted on taxes each year.
Employee Covenant-a written statement of the employees job expectations
Employee handbook-guidelines outlining expectations, responsibilities and privileges of employment
Employee orientation-a time of training for new employees
Expense budget-a system to monitor and project business costs
Financial plan-the portion of a business plan dealing with monetary goals
General expense percentage-the portion of gross sales related to operating expense
General expenses-costs related to the day- to-day operation of a business
Gross profit-total of all sales revenue
Income-money received in exchange for sale of goods or services
Income and expense projections-evaluation and visioning of financial direction of business
Invoice-an itemized list of goods sold, including price and sales terms
Job description-a detailed list of functions, duties and responsibilities of employee
Liabilities-money owed by business to others
Limited checking account-used to pay irregular expenses, (taxes, insurance, withholdings)
Managerial accountant-consultant to business on financial operation
Marketing-creating a need for product or service
Marketing calendar-a system of managing marketing plan
Marketing plan-Portion of business plan, which determines the type of business and how it is going to attract the desired clients
Mechanics of pricing-method for determining selling price
Mission Statement-a promise created by the business for how they plan to conduct their operation
Money market account-a holding account for liquid capital, including depreciation recapture
Net profit-the amount of cash from sales left after expenses have been deducted
Operating expense-costs related to conducting business regardless of sales activity
Operational productivity-level of work completed in business workflow
Overhead-expenses, which exist whether or not business activity takes place
Owner's compensation-amount business owner pays himself in form of cash and benefits
Owner's statement of values-the business owner's vision of why his business exists
Partnership marketing-sharing marketing projects with other businesses
Personnel guidelines-rules for how an employee should conduct himself or herself in the workplace
Price point-a pricing level where the product will be sold
Probationary period-often given to a new employee. It allows an employer to evaluate the employees ability to perform job functions
Product lines-the various items a business will sell categorized by likenesses
Profit and loss statement (P&L)-evaluation of income against expenses to determine financial health of a business
Promotional planner-system to manage marketing programs
Pure cash accounting-method of recording income and expenses when cash in transacted
Recapture-ability to regain value of capital items
Regular checking account-handles the day-to-day income and expense of business operation
Relationship marketing-developing clients as marketing tools
Return on investment (ROI)-the value of a business measured against it's performance
Return on investment (ROI) formula-used to determine the value of a business
Sales objections-when clients begin questioning reasons for making the purchase
Sales presentations-showing and educating client products and serviecs offered
Sales projections-analyzing sales categories and their potential growth
Statement-a summary of invoices
Tax accountant-provides assistance in preparing tax returns
Technological productivity-using automation to achieve job functions
Time management-making the optimum use of one's time
Workflow-tracking how production elements are completed
Accounting software-automates many of the functions of business accounting
Action cycles-a system of managing tasks to complete production goals
Administrative costs-expenses related to business management
Advertising-mechanism to create awareness, educate and attract customers
Assets-items of monetary value owned by the business
At-will employment-allows employer to hire and terminate employees without cause.
Break-even-level at which business income matches expenses
Budget-a system to monitor and project business financial activity
Business expenses-costs of doing business as defined by the Internal Revenue Service
Business goals-establishing an end and a means to get there.
Business plan-a device used to map out the direction a business wants to go. Used to assess business growth and mission.
Capital-accumulated liquid and tangible assets of a business
Capital expense-costs associated with acquiring assets
Cash flow-measures income and expense trends in a business
Cash flow forecast-projects future business income and expense
Closing the sale-the final steps in selling your product or service
Compensation-financial considerations given to employees or contract labor
Consultations-used to educate and gather information from clients
Contract labor-non employees who provide specific job functions for our business
Cost of obtaining business-expenses related to attracting new and existing clients to our business
Cost of sales (COS)-expenses related to producing the products we sell
Cost of sales (COS) percentage-the portion of gross sales related to cost of sales expense
Custodial accountant-an individual who handles regular record keeping of business finances
Database-a collection mechanism to hold customer or financial data and records
Depreciation-expensing and recapturing capital investment
Depreciation rules-government regulations on the amount of capital, which can be deducted on taxes each year.
Employee Covenant-a written statement of the employees job expectations
Employee handbook-guidelines outlining expectations, responsibilities and privileges of employment
Employee orientation-a time of training for new employees
Expense budget-a system to monitor and project business costs
Financial plan-the portion of a business plan dealing with monetary goals
General expense percentage-the portion of gross sales related to operating expense
General expenses-costs related to the day- to-day operation of a business
Gross profit-total of all sales revenue
Income-money received in exchange for sale of goods or services
Income and expense projections-evaluation and visioning of financial direction of business
Invoice-an itemized list of goods sold, including price and sales terms
Job description-a detailed list of functions, duties and responsibilities of employee
Liabilities-money owed by business to others
Limited checking account-used to pay irregular expenses, (taxes, insurance, withholdings)
Managerial accountant-consultant to business on financial operation
Marketing-creating a need for product or service
Marketing calendar-a system of managing marketing plan
Marketing plan-Portion of business plan, which determines the type of business and how it is going to attract the desired clients
Mechanics of pricing-method for determining selling price
Mission Statement-a promise created by the business for how they plan to conduct their operation
Money market account-a holding account for liquid capital, including depreciation recapture
Net profit-the amount of cash from sales left after expenses have been deducted
Operating expense-costs related to conducting business regardless of sales activity
Operational productivity-level of work completed in business workflow
Overhead-expenses, which exist whether or not business activity takes place
Owner's compensation-amount business owner pays himself in form of cash and benefits
Owner's statement of values-the business owner's vision of why his business exists
Partnership marketing-sharing marketing projects with other businesses
Personnel guidelines-rules for how an employee should conduct himself or herself in the workplace
Price point-a pricing level where the product will be sold
Probationary period-often given to a new employee. It allows an employer to evaluate the employees ability to perform job functions
Product lines-the various items a business will sell categorized by likenesses
Profit and loss statement (P&L)-evaluation of income against expenses to determine financial health of a business
Promotional planner-system to manage marketing programs
Pure cash accounting-method of recording income and expenses when cash in transacted
Recapture-ability to regain value of capital items
Regular checking account-handles the day-to-day income and expense of business operation
Relationship marketing-developing clients as marketing tools
Return on investment (ROI)-the value of a business measured against it's performance
Return on investment (ROI) formula-used to determine the value of a business
Sales objections-when clients begin questioning reasons for making the purchase
Sales presentations-showing and educating client products and serviecs offered
Sales projections-analyzing sales categories and their potential growth
Statement-a summary of invoices
Tax accountant-provides assistance in preparing tax returns
Technological productivity-using automation to achieve job functions
Time management-making the optimum use of one's time
Workflow-tracking how production elements are completed
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