Terms in this set (36)
A system that monitors an individual, business or other organization's financial standing. This includes recording and verifying financial information to determine a profit or loss for a given time period as well as the value of assets, liabilities and owner's equity.
The process of determining a time specific financial plan for an individual, business or other organization to achieve a monetary goal.
Money invested in a business to generate income or Wealth in the form of an asset, which can indicate strength of an individual, business or country.
The amount spent to acquire or upgrade an asset that will increase the efficiency of the production or operations of a business for the long term.
A market for demand and supply of debt and equity capital. Highly decentralized; made of stock, bond, and money markets.
Any activity provided by a vendor on behalf of a client. Services provided are agreed to by both parties.
An open and organized marketplace where ownership titles or standard units of commodities are traded by its members.
Verification that a vendor meets the requirements of the predetermined contract.
Cost of Goods Sold
Cost of raw material to produce a finished product.
A process to determine the cost of production or operation of a business by assigning expenses to various stages of production or operations of a firm.
Customer Relationship Management
At a minimum, this is a database of customer contacts, purchase history and technical support. Additional elements can include profiles of potential clients, understanding and leveraging the needs of current customers, and enhanced customer service based on data analysis.
Information in an unorganized form (alphabets, numbers, or symbols) that have a relationship with current conditions, ideas, or knowledge.
The systematic organization of information that allows easy updating and analysis of data.
Economies of Scale
An internal or external reduction in long term costs when production or operation increases in size.
The possibility of loss, damage, or injury outside of a business or other organization.
The worldwide development of economic, financial, trade and communication integration. This pushes business executives to consider broad views in the global marketplace as countries and their economies become interconnected and interdependent.
Monetary objectives of an individual, business, or other organization that are decided by future needs of those entities.
Financial Information Management
Managing data such as credit card numbers, accounting balances or other monetary facts about an individual, business, or other organization that are used when evaluating credit, loans, or other financial activities.
Organizations that are public or private whom act as a channel between savers and borrowers of funds.
Banks or Credit Card Unions, a type of Financial Institution.
Insurance Companies or Mutual Funds, a type of Financial Institution.
A market for the sale or purchase of stocks, bonds, bills of exchange, commodities, fortunes and options, foreign currency which work as an exchange for capital and credit.
The status of the assets, liabilities, and owners equity of an individual, business, or other organization as shown in its financial statements.
They provide a comparison between financial statement items to determine the strength or weakness of a company. Most common ratios are net sales to net worth and net income to net sales.
The financial documentation for an individual, business, or other organization.
Refers to the amount of income received by a company before any expenses are deducted.
The possibility of loss, damage, or injury within a business or other organization.
This allows a business to maintain the optimum number of each item. Business can operate production of the good/service, sales, or customer service at a lower cost.
A network of banks, discount houses, institutional vendors, and money dealers who borrow and lend among themselves for the short term. Any investment has risk, but a money market account is considered a safe place to invest due to its short term revenue.
An investment tool such as bonds, debentures, notes, options, and shares.
Securities and Exchange Commision
Government Agency that is responsible for enforcing securities-related laws and setting standards for financial information about businesses that are traded on a stock exchange.
Information provided regarding an investment instrument issued by a corporation, government, or other organization.
The area of law that governs taxation. A tax fee charged by the government of a product, service, income, or activity. Each state that collects a tax has their own department of taxation as well as local municipalities.
An agreement or contract that occurs between two or more parties and establishes a legal obligation. This can also be defined as an exchange of goods and services between a buyer and seller.