Finance terminology
From wikinotes
TBD
asset equipment, furniture, buidings, cash, etc. (sub-classified as property, plant, equipment) equity liability
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
Accounting
income/revenue profit from sales, service, interest on loan accounts receivable money owed (ex. rent, loan payments, deferred tax)
Business Types
sole proprietorship personal liability, taxed personally partnership shared liability, taxed personally corporation separate legal entity (liability/taxes), ownership by shareholders (public or private)
