Finance terminology: Difference between revisions
From wikinotes
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| equity || amount of money returned to owners if all assets were sold, after paying all debts | | equity || amount of money returned to owners if all assets were sold, after paying all debts | ||
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| liability || | | liability || money owed (ex: payroll, debt) | ||
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{| class="wikitable" | {| class="wikitable" | ||
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| | | gross || whole amount without accounting for expenses (ex: refunds, returns, ..) | ||
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| | | net || whole amount after subtracting expenses (ex: refunds, returns, ..) | ||
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| returns || dividends, interest paid on an investment | | returns || dividends, interest paid on an investment | ||
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| retained earnings || net income | | retained earnings || net income retained by corp (not issued as dividends) <code>prev_period_retained + revenues - expenses - dividends</code> | ||
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|} | |} | ||
Latest revision as of 00:15, 7 November 2021
NOTE:
most of these should be expanded in depth on other pages.
TBD
asset equipment, furniture, buidings, cash, etc. (sub-classified as property, plant, equipment) equity amount of money returned to owners if all assets were sold, after paying all debts liability money owed (ex: payroll, debt)
Quantifiers
gross whole amount without accounting for expenses (ex: refunds, returns, ..) net whole amount after subtracting expenses (ex: refunds, returns, ..)
Assets
Resources a company owns or controls (ex. equipment, machinery, furniture, cash etc.)
subclassified as property/plant/equipment.
goodwill assets acquisition for more than cost of identifiable-assets intangible assets copyrights, trademarks, etc. returns dividends, interest paid on an investment retained earnings net income retained by corp (not issued as dividends) prev_period_retained + revenues - expenses - dividends
Accounting
income/revenue profit from sales, service, interest on loan accounts receivable money owed (ex. rent, loan payments, deferred tax) accounts payable interest payable salaries payable property tax payable sales tax payable income tax payable
