Definicije 1 Flashcards
A method of buying expensive goods in which you pay small regular amounts of money until you have paid the whole amount
Mortgage
To keep an amount of money for a time in the future when it might be needed
Save for a rainy day
Put up as security or collateral when taking a bank loan
Hire purchase (lizing)
An amount of money saved over a long period of time to use in the future
Nest egg
Something that you give or receive instead of money
Payment in kind
It is designed to measure the “true cost of a loan”
APR- annual percentage rate
Coins of low value
Small change
A lot of money
Small fortune
A fair amount of money in the bank
Healthy bank balance
An attempt to save money by buying something cheap that does not really save money at all because the goods are of poor quality and do not last very long
False economy
Shows what company owns and what it owns at a specific point of time
Balance sheet
Which describes a company’s income, expenses and net income/ loss over a period of time
Profit and loss account
Describes how much cash was used in corporate operating ,investment and financing activities over a period of time
Cash flow statements
Reconciles the difference between the equity at the two different points in time
Statement of changes in shareholder equity
A record of businesses, financial flows and levels
Financial statements
Typically describe each item on the companies financial statements in further detail
Notes to the financial statements
Usually carried out by auditors employed by the company
Internal auditing
When an independent auditor examines an organizations, financial statement, and accounting records
External auditing
Involves making at least two entries for every transaction
Double entry bookkeeping system
Money received from the sale of products and services before expenses are taken out
Top line
The result after all revenues and expenses have been accounted for
Bottom line
A group of international accounting and professional services firms
The big four
