Study sets matching "financial planning 1"

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Study sets matching "financial planning 1"

BUSS1 Financial Planning
Profit
Costs
Revenue
Fixed Costs
Total Revenue - Total Costs
Expenditures made by a business during a trading period.
Selling Price x Number of Items Sold
Costs that do not change with he level of output or sales
Profit
Total Revenue - Total Costs
Costs
Expenditures made by a business during a trading period.
68 terms
Financial Planning Exam 1
balance sheet
assets
liabilities
equity
financial statement that enumerates (as of a point in time) w…
items or property owned by a firm, household or government an…
what an economic unit owes expressed in monetary terms
owners' investment in a firm; a firm books value or net worth
balance sheet
financial statement that enumerates (as of a point in time) w…
assets
items or property owned by a firm, household or government an…
49 terms
Financial Planning Test 1
Ask Price
Assets
Balance Sheet
Best efforts agreement
?
Items or property owned by a firm, household, or government a…
Financial Statement that enumerates (as of a point in time) w…
Contract with an investment banker for the sale of securities…
Ask Price
?
Assets
Items or property owned by a firm, household, or government a…
45 terms
Financial Planning Test 1
Ask Price
Assets
Balance sheet
Best Efforts Agreement
Prices quoted by marker makers at which they are willing to b…
Items or property owned by a firm, household, or government a…
Financial statement that enumerates (as of a point in time) w…
contract with an investment banker for the sale of securities…
Ask Price
Prices quoted by marker makers at which they are willing to b…
Assets
Items or property owned by a firm, household, or government a…
63 terms
Financial Planning Exam 1
Ask Price
Assets
Balance Sheet
Best Efforts Agreements
The lowest prices a seller is willing to accept
Items owned or property owned by a firm, household, or govern…
Financial statement that list (as of point in time) what an e…
No guarantee of public sales of securities, risk is with comp…
Ask Price
The lowest prices a seller is willing to accept
Assets
Items owned or property owned by a firm, household, or govern…
Financial Planning Exam 1
Ask Price
Assets
Balance Sheet
Best Efforts Agreement
the price at which a dealer or other trader will sell a secur…
Economic resources (items or property) owned by a firm.
A financial statement that reports assets, liabilities, and o…
Contract with an investment banker for the sale of securities…
Ask Price
the price at which a dealer or other trader will sell a secur…
Assets
Economic resources (items or property) owned by a firm.
17 terms
Financial Planning
Revenue
Expenses
Budget
Start-up Budget
all income that a business receives over a period of time
costs of operating a business
detailed plans for the financial needs of a business
plans income and expenses from the beginning of a new busines…
Revenue
all income that a business receives over a period of time
Expenses
costs of operating a business
Financial Planning - Exam #1
Balance Sheet
Assets
Liabilities
Equity
Financial statement that totals what an economic unit owns, o…
Items or property owned by a firm, household, or government a…
What an economic unit owes expressed in monetary terms
Owners' investment in a firm; a firm's book value or net worth
Balance Sheet
Financial statement that totals what an economic unit owns, o…
Assets
Items or property owned by a firm, household, or government a…
11 terms
Financial Planning D1
Pre-Tax Deductions
Budgeting
Ideal Budget
Savings
Income plus benefit packages ... 401k Contributions, Employer pa…
Statement of Cash Flow... Fixed vs. Variable Earnings... Needs vs.…
Fun- 10%... Savings- 15%... Foundation- 45%... Tax- 30%
CD's. Money Market, Safety, Low return, Emergency Funds
Pre-Tax Deductions
Income plus benefit packages ... 401k Contributions, Employer pa…
Budgeting
Statement of Cash Flow... Fixed vs. Variable Earnings... Needs vs.…
Financial Planning 1-6
Balance Sheet
Assets
Liabilities
Equity
Financial Statement that enumerates(as of one point in time)…
Items or property owned by a firm, household, or government a…
What and economic unit owes expressed in monetary terms
Owner's investment in a firm; a firms book value or net worth
Balance Sheet
Financial Statement that enumerates(as of one point in time)…
Assets
Items or property owned by a firm, household, or government a…
Exam 1 Financial Planning
Arbitrage
Ask price
Barter
Bid price
Simultaneous purchase of commodities, securities or bills of…
price requested by seller
exchange of goods or services without using money
price offered by potential buyer
Arbitrage
Simultaneous purchase of commodities, securities or bills of…
Ask price
price requested by seller
12.1 Financial Planning
Revenue
Expenses
Budget
Start-Up Budget
all income a business receives over a period of time
costs of operating a business
provides detailed plans for the financial needs of individual…
plans income and expenses from the beginning of a new busines…
Revenue
all income a business receives over a period of time
Expenses
costs of operating a business
68 terms
Financial Planning Test 1
Arbitrage
Ask price
Bid
Spread
The simultaneous, or nearly simultaneous, purchasing of commo…
Price requested by the seller... Securities exchange
Price offered by a potential buyer
The difference between the higher ask and the lower bid... The…
Arbitrage
The simultaneous, or nearly simultaneous, purchasing of commo…
Ask price
Price requested by the seller... Securities exchange
49 terms
Financial Planning Exam 1
assets
balance sheet
best efforts agreement
bid price
items or property owned by a firm, household, or government a…
financial statement that enumerates (as of a point in time) w…
contract with an investment banker for the sale of securities…
prices quoted by market makers at which they are willing to b…
assets
items or property owned by a firm, household, or government a…
balance sheet
financial statement that enumerates (as of a point in time) w…
50 terms
Financial Planning Exam 1
ask price
assets
balance sheet
best efforts agreement
the lowest price a seller of a stock is willing to accept for…
something that has value, probable future benefit and is owne…
a state of the assets, liabilities, and capital of a business…
an agreement in which an underwriter promises to make a full-…
ask price
the lowest price a seller of a stock is willing to accept for…
assets
something that has value, probable future benefit and is owne…
Financial Planning Exam 1
ask price
assets
bid price
broker
the lowest price a seller of a stock is willing to accept for…
OWNS; something that has value, probable future benefit and i…
the price that a dealer or other prospective buyer is prepare…
a person or a company that acts as an intermediary between bu…
ask price
the lowest price a seller of a stock is willing to accept for…
assets
OWNS; something that has value, probable future benefit and i…
16 terms
Financial Planning Test 1
6 steps in financial planning process
7 functional areas of financial planning
principles of CFP
types of relationships with clients
1. establish and define relationship... 2. gather client data... 3.…
insurance, credit/borrowing, savings, tax planning, retiremen…
1. integrity... 2. objectivity... 3. competence... 4. fairness... 5. conf…
consultation, modular, comprehensive (holistic)
6 steps in financial planning process
1. establish and define relationship... 2. gather client data... 3.…
7 functional areas of financial planning
insurance, credit/borrowing, savings, tax planning, retiremen…
22 terms
Financial Planning Unit 1
cost of living
financial independence
needs
risk tolerance
What it costs to live, on average, including the expenses for…
The ability of someone to manage his or her money in such a w…
Those things that are basic and necessary for a decent qualit…
The degree of uncertainty you can personally handle in regard…
cost of living
What it costs to live, on average, including the expenses for…
financial independence
The ability of someone to manage his or her money in such a w…
66 terms
Financial Planning Exam 1
Arbitrage
Ask Price
Barter
Bid Price
The simultaneous, or nearly simultaneous, purchasing of commo…
The price at which a dealer or other trader will sell a secur…
Exchange of goods or services without using money
the price a dealer is willing to buy a security
Arbitrage
The simultaneous, or nearly simultaneous, purchasing of commo…
Ask Price
The price at which a dealer or other trader will sell a secur…
55 terms
Financial Planning Chapter 1
What is step 1 of the planning process?
What is step 2 of the planning process?
What is step 3 of the planning process?
What is step 4 of the planning process?
Set a Goal: identify something you want to achieve or obtain.
Acquire Knowledge: Gain an understanding of your goal and wha…
Compare Alternatives: Weight your options, which are differen…
Choose a Strategy: Select on option as the best plan of actio…
What is step 1 of the planning process?
Set a Goal: identify something you want to achieve or obtain.
What is step 2 of the planning process?
Acquire Knowledge: Gain an understanding of your goal and wha…
Financial Planning Ch. 1
Future value
Present value
Demand
Inflation
The amount that your original deposit will be worth in the fu…
Amount of money you need to deposit now to attain a desired a…
Amounts of goods and services people are willing to buy
General rise in the level of prices for goods and services ov…
Future value
The amount that your original deposit will be worth in the fu…
Present value
Amount of money you need to deposit now to attain a desired a…
Financial Planning Exam 1
ask price
assets
balance sheet
best efforts agreement
the lowest price a seller of a stock is willing to accept for…
OWNS; something that has value, probable future benefit and i…
financial statement that enumerates what an economic unit own…
an agreement in which an underwriter promises to make a full-…
ask price
the lowest price a seller of a stock is willing to accept for…
assets
OWNS; something that has value, probable future benefit and i…
financial planning 1
engagement letter
external data
financial plan
personal financial planning
legal agreement between a professional organization and a cli…
current economic, legal, political, sociological, tax and tec…
written document that generally sets out a list of recommenda…
process of formulating, implementing and monitoring financial…
engagement letter
legal agreement between a professional organization and a cli…
external data
current economic, legal, political, sociological, tax and tec…
78 terms
Financial Planning 1
Finance
Financial environments
Financial institutions
Financial markets
Study of how individuals, institutions, governments and busin…
Financial systems, institutions or intermediaries, financial…
Organizations or intermediaries that help the financial syste…
Physical locations or electronic forums that facilitate the f…
Finance
Study of how individuals, institutions, governments and busin…
Financial environments
Financial systems, institutions or intermediaries, financial…
Financial Planning Vocab 1
ACT
SAT
SAT Subject Tests
Early Action (EA)
A standardized college admission test. It features four main…
The College Board's standardized college admission test. It f…
Hour-long, content-based college admission tests that allow y…
An option to submit your applications before the regular dead…
ACT
A standardized college admission test. It features four main…
SAT
The College Board's standardized college admission test. It f…
22 terms
Financial planning #1
Amortization
Bankruptcy
Broker
Claim
Payment of a portion of the principal of a mortgage loan
A legal process to get out of debt whwnyou cant make required…
An individual or firm that acts as an intermediary between a…
A formal request made to an insurance company for payment for…
Amortization
Payment of a portion of the principal of a mortgage loan
Bankruptcy
A legal process to get out of debt whwnyou cant make required…
29 terms
Financial Planning Prelim 1
How long to keep income tax returns?
Insolvent:
Personal Asset Valuation
Upper limit for Mortgage Debt Service
6 years
Assets < Liabilities --> Inability to pay debts
Use Market Value
33% of annual income
How long to keep income tax returns?
6 years
Insolvent:
Assets < Liabilities --> Inability to pay debts
Financial Planning Exam 1
Mortgage Markets
Primary Markets
Secondary Markets
Federal Funds
where loans to purchase real estate (buildings and houses) ar…
where the initial offering or origination of debt and equity…
physical locations or electronic forum where debt (bonds and…
short-term loans, usually with maturities of one day to one w…
Mortgage Markets
where loans to purchase real estate (buildings and houses) ar…
Primary Markets
where the initial offering or origination of debt and equity…
Financial Planning 1
Standard of Living is defined as the n…
Your average propensity to consume is…
A good financial plan completed when o…
Financial planning can improve your st…
True
True
False
True
Standard of Living is defined as the n…
True
Your average propensity to consume is…
True
12.1 Financial Planning
revenue
expenses
budget
start-up budget
all income that a business recieves over a period of time
the costs of operating a business.
provides detailed plans for the financial needs of individual…
plans income and exposes from the beginning of a new business…
revenue
all income that a business recieves over a period of time
expenses
the costs of operating a business.
12-1 Financial Planning
Revenue
Expenses
Budget
Start-up Budget
All income that a business receives over a period of time
The costs of operating a business
Provides detailed plans for the financial needs of individual…
Plans income and expenses from the beginning of a new busines…
Revenue
All income that a business receives over a period of time
Expenses
The costs of operating a business
Financial Planning 12-1
Revenue
Expenses
Budget
Start-Up Budget
All income that a business receives over a period of time
The costs of operating a business
Provides detailed plans for the financial needs of individual…
Plans income and expenses from the beginning of a new busines…
Revenue
All income that a business receives over a period of time
Expenses
The costs of operating a business
48 terms
Financial Planning Ch. 1
Financial Literacy
Personal Finance
Financial Responsibility
Spend less...
knowledge of concepts, facts, principles, and technology tool…
the study of personal and family resources considered importa…
means that you are accountable for your future financial well…
save more and invest
Financial Literacy
knowledge of concepts, facts, principles, and technology tool…
Personal Finance
the study of personal and family resources considered importa…
12.1 Financial Planning
Revenue
Expenses
Budget
Start-up Budget
All income that a business receives over a period of time
The costs of operating a Business
Provides detailed plans for the financial needs of individual…
plans income and expenses from the beginning of a new busines…
Revenue
All income that a business receives over a period of time
Expenses
The costs of operating a Business
55 terms
Financial Planning 1
Ask Price
Assets
Balance Sheet
Best efforts agreement
...
Items or property owned by a firm, household, or government a…
Financial statement that enumerates (as of a point in time) w…
Contract with an investment banker for the sale of securities…
Ask Price
...
Assets
Items or property owned by a firm, household, or government a…
5 terms
1.10 Financial Planning
dividend
intestate
living trust
stocks
a share of money earned as profits by a company and distribut…
without a will
a trust established while the owner of the trust is alive
a share in the ownership of a company
dividend
a share of money earned as profits by a company and distribut…
intestate
without a will
23 terms
Topic 1: Financial Planning
gross domestic product
leading economic indicators (LEI)
real income
consumer price index
The broadest measure of economic health of the nation because…
composite index reported monthly by the Conference Board that…
actual buying power of one's nominal income available to spen…
monthly measure of inflation which broadly measures changes i…
gross domestic product
The broadest measure of economic health of the nation because…
leading economic indicators (LEI)
composite index reported monthly by the Conference Board that…
30 terms
BUSS1 Financial Planning
Profit
Costs
Revenue
Fixed Costs
Total Revenue - Total Costs
Expenditures made by a business during a trading period.
Selling Price x Number of Items Sold
Costs that do not change with he level of output or sales
Profit
Total Revenue - Total Costs
Costs
Expenditures made by a business during a trading period.
Financial planning list 1
amortization
bankruptcy
broker
claim
payment of a portion of the principial of a mortgage loan,red…
a legal process to get out of debt when you can no longer mak…
an individual or firm who acts as an intermediary between a b…
a formal request made to an insurance company for payment loss
amortization
payment of a portion of the principial of a mortgage loan,red…
bankruptcy
a legal process to get out of debt when you can no longer mak…
12 terms
Financial Planning Vocab 1
ACT
SAT
SAT Subject Tests
Early Action (EA)
A standardized college admission test. Features 4 sections: e…
The college board's standardized college admission test. Incl…
Hour long subject tests in english, history, math, science, o…
An option to submit your application before regular deadlines…
ACT
A standardized college admission test. Features 4 sections: e…
SAT
The college board's standardized college admission test. Incl…
20 terms
#1: Personal Financial Planning
personal financial planning
goals
values
opportunity costs
The process of managing your money to achieve personal econom…
A purpose/objective.
Beliefs of a person or social group in which they have an emo…
the most desirable alternative given up as the result of a de…
personal financial planning
The process of managing your money to achieve personal econom…
goals
A purpose/objective.
28 terms
Unit 1 Financial Planning
Advertising
Consequence
Consumer
Culture
To make something known generally or in public, especially in…
An often bad or inconvenient result of a particular action or…
A person who purchases and uses goods or services.
The way of life, especially the general customs and beliefs,…
Advertising
To make something known generally or in public, especially in…
Consequence
An often bad or inconvenient result of a particular action or…
Ch. 1 Financial Planning
5 steps in personal financial planning
why make financial plans
definition of best plan
4 questions to ask yourself when exami…
1. Evaluate your current financial condition... 2. Define your f…
budget for unexpected future events... afford big events-wedding…
the one that moves you to your goals
what do you own (assets)... owe (liabilities)... earn (income)... spen…
5 steps in personal financial planning
1. Evaluate your current financial condition... 2. Define your f…
why make financial plans
budget for unexpected future events... afford big events-wedding…
Financial Planning Exam 1
Arbitrage
Ask Price
Barter
Bid Price
Buying securities, commodities, or bills of exchange in one m…
The price asked by the seller
buying a good or service using something other than money
price offered by potential buyer
Arbitrage
Buying securities, commodities, or bills of exchange in one m…
Ask Price
The price asked by the seller
67 terms
Financial Planning: Exam 1
arbitrage
ask price
barter
bid price
buying commodities, securities or bills of exchange in one ma…
the lowest price a seller of a stock is willing to accept for…
the action or system of exchanging goods or services without…
the price that a dealer or other prospective buyer is prepare…
arbitrage
buying commodities, securities or bills of exchange in one ma…
ask price
the lowest price a seller of a stock is willing to accept for…
22 terms
Financial Planning Unit 1
cost of living
financial independence
needs
risk tolerance
What it costs to live, on average, including the expenses for…
The ability of someone to manage his or her money in such a w…
Those things that are basic and necessary for a decent qualit…
The degree of uncertainty you can personally handle in regard…
cost of living
What it costs to live, on average, including the expenses for…
financial independence
The ability of someone to manage his or her money in such a w…
27 terms
Chapter 1: Financial Planning
capital structure theory
inflation
disinflation
credit default swaps (CDS)
the study of relative importance of debt and equity
increase of prices
a slowing down of price increases
complicated, new unregulated products; created as insurance a…
capital structure theory
the study of relative importance of debt and equity
inflation
increase of prices
19 terms
Financial Planning: Chapter 1
average propensity to consume
consumer price index (CPI)
contraction
expansion
The percentage of each dollar of income, on average, that a p…
A measure of inflation based on changes in the cost of consum…
The phase of the economic cycle when real GDP falls.
The phase of the economic cycle when levels of employment and…
average propensity to consume
The percentage of each dollar of income, on average, that a p…
consumer price index (CPI)
A measure of inflation based on changes in the cost of consum…
27 terms
Financial Planning Chapter 1
Importance of Financial Planning
Step 1 of financial planning process
Step 2 of financial planning process
Step 3 of financial planning process
Accumulate wealth, save for retirement, "cover your assets",…
Evaluate your financial health
Define your financial goals
Develop a plan of action
Importance of Financial Planning
Accumulate wealth, save for retirement, "cover your assets",…
Step 1 of financial planning process
Evaluate your financial health
20 terms
Financial Planning Ch. 1 Vocab
Standard of Living
Average Propensity to Consume
Wealth
Financial Assets
The necessities, comforts, and luxuries we have or desire
the percentage of each dollar of income, on average, that is…
the total value of all the items that the individual owns
intangible, paper assets, such as savings accounts and securi…
Standard of Living
The necessities, comforts, and luxuries we have or desire
Average Propensity to Consume
the percentage of each dollar of income, on average, that is…
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