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English as a Foreign Language (EFL) > Finance > Flashcards

Finance Flashcards

Finance vocab

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Proverbs and Idioms flashcards
1
Q

<p>to assign</p>

A

<p>to appoint, designate</p>

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2
Q

<p>a proxy</p>

A

<p>a substitute, an agent</p>

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3
Q

<p>to owe</p>

A

<p>to be in debt to</p>

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4
Q

<p>Balance Sheet</p>

A

<p>It describesa picture of the company on a particular date</p>

<p>and has three components:</p>

<p>Assets</p>

<p>Liabilities</p>

<p>Equity</p>

<p>It's a substitute attribute for the company's position</p>

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5
Q

<p>Assets</p>

A

<p>the economic resources owned by the company</p>

<p>(what you own)</p>

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6
Q

<p>Liabilities</p>

A

<p>the obligations that the company has to others</p>

<p>(what you owe)</p>

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7
Q

<p>Equity</p>

A

<p>the difference between assets (what you own)and liabilities (what you owe)</p>

<p>also Net Worth</p>

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8
Q

<p>Income Statement</p>

A

<p>It describes the resources</p>

<p>the company has earned or dispersed</p>

<p>(transactions) during a period of time.</p>

<p>It's a substitute attribute for the company's performance during a year.</p>

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9
Q

<p>Outlays</p>

A

<p>The total cost or expenditure</p>

<p>required or incurred in acquiring an asset,</p>

<p>achieving an objective,</p>

<p>or executing a decision<br></br></p>

<p></p>

<p></p>

<p>http://www.businessdictionary.com/definition/outlay.html</p>

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10
Q

<p>Net Income</p>

A

<p>The difference between resources earned and resources dispersed</p>

<p>also Earnings</p>

<p>(performance)</p>

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11
Q

<p>It describesa picture of the company on a particular date</p>

<p>and has three components:</p>

<p>Assets</p>

<p>Liabilities</p>

<p>Equity</p>

<p>It's a substitute attribute for the company's position</p>

A

<p>Balance Sheet</p>

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12
Q

<p>the economic resources owned by the company</p>

<p>(what you own)</p>

A

<p>Assets</p>

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13
Q

<p>the obligations that the company has to others</p>

<p>(what you owe)</p>

A

<p>Liabilities</p>

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14
Q

<p>the difference between assets (what you own)and liabilities (what you owe)</p>

<p>also Net Worth</p>

A

<p>Equity</p>

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15
Q

<p>It describes the resources</p>

<p>the company has earned or dispersed</p>

<p>(transactions) during a period of time.</p>

<p>It's a substitute attribute for the company's performance during a year.</p>

A

<p>Income Statement</p>

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16
Q

<p>The total cost or expenditure</p>

<p>required or incurred in acquiring an asset,</p>

<p>achieving an objective,</p>

<p>or executing a decision<br></br></p>

<p></p>

<p></p>

<p>http://www.businessdictionary.com/definition/outlay.html</p>

A

<p>Outlays</p>

17
Q

<p>The difference between resources earned and resources dispersed</p>

<p>also Earnings</p>

<p>(performance)</p>

A

<p>Net Income</p>

18
Q

<p>to appoint, designate</p>

A

<p>to assign</p>

19
Q

<p>a substitute, an agent</p>

A

<p>a proxy</p>

20
Q

<p>to be in debt to</p>

A

<p>to owe</p>

21
Q

<p>Payroll</p>

A

<p>Total amount required to pay workers and employees during a week, month or other period.</p>

<p>"When the firm hired Linda, Human Resources had her fill out some forms so that she could be put onto the payroll."</p>

22
Q

<p>budget</p>

A

<p>An estimate of costs, revenues, and resources over a specified period, reflecting a reading of future financial conditions and goals.</p>

<p>One of the most important administrative tools, a budget serves also as a (1) plan of action for achieving quantified objectives, (2) standard for measuring performance, and (3) device for coping with foreseeable adverse situations.</p>

<p>"The budget was set and we could not alter our figures because we were held accountable by the new CEO."</p>

23
Q

<p>entry</p>

A

<p>Record of a financial transaction in its appropriate book of account.</p>

24
Q

<p>profit</p>

A

<p>A financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs and taxes needed to sustain the activity.</p>

25
Q

<p>income tax</p>

A

<p>a tax that governments impose on financial income generated by all businesses and individuals. They must file an incometax returnevery year to determine whether they owe any taxes or are eligible for atax refund.</p>

26
Q

<p>inventory</p>

A

<p>theraw materials, work-in-process productsand finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale</p>

27
Q

<p>publicly traded company</p>

A

<p>a corporation whose ownership is dispersed among the generalpublicin many shares of stock which are freelytradedon a stock exchange or in over the counter markets</p>

28
Q

<p>stock exchange</p>

A

<p>financial market where securities (bonds, notes, shares) are bought and sold at prices governed by the forces of supply and demand</p>

29
Q

<p>Total amount required to pay workers and employees during a week, month or other period.</p>

<p>"When the firm hired Linda, Human Resources had her fill out some forms so that she could be put onto the payroll."</p>

A

<p>Payroll</p>

30
Q

<p>An estimate of costs, revenues, and resources over a specified period, reflecting a reading of future financial conditions and goals.</p>

<p>One of the most important administrative tools, a budget serves also as a (1) plan of action for achieving quantified objectives, (2) standard for measuring performance, and (3) device for coping with foreseeable adverse situations.</p>

<p>"The budget was set and we could not alter our figures because we were held accountable by the new CEO."</p>

A

<p>budget</p>

31
Q

<p>Record of a financial transaction in its appropriate book of account.</p>

A

<p>entry</p>

32
Q

<p>A financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs and taxes needed to sustain the activity.</p>

A

<p>profit</p>

33
Q

<p>a tax that governments impose on financial income generated by all businesses and individuals. They must file an incometax returnevery year to determine whether they owe any taxes or are eligible for atax refund.</p>

A

<p>income tax</p>

34
Q

<p>theraw materials, work-in-process productsand finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale</p>

A

<p>inventory</p>

35
Q

<p>a corporation whose ownership is dispersed among the generalpublicin many shares of stock which are freelytradedon a stock exchange or in over the counter markets</p>

A

<p>publicly traded company</p>

36
Q

<p>financial market where securities (bonds, notes, shares) are bought and sold at prices governed by the forces of supply and demand</p>

A

<p>stock exchange</p>

English as a Foreign Language (EFL) (3 decks)

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