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Business Financial Terms You Should Absolutely Know

Business Financial terms can be confusing. Whenever you listen to somebody speak personal finance, do you feel like you're learning a foreign linguistic? Don't worry u2014 we're here to help. We know that your business finances don't come with a technical support hotline, so in this above presentation, we gathered a handy glossary of must-know business financial terms. Small Business owners can use the above glossary to better understand their business financial accounts and when working with bookkeepers in Melbourne or accounting software. If you want to know more in details, check out the articl

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Business Financial Terms You Should Absolutely Know

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  1. BUSINESS FINANCIAL TERMS YOU NEED TO KNOW

  2. To help ensure that you’re savvy about your own finances, here’s a list of the top key terms that you should know.

  3. Have a look! ASSETS As the name suggests, which has a market value is termed as an asset, such as cash, vehicles, inventory, furniture, etc. LIABILITIES These include loans and debts or any other financial obligation, such as bank loans and credit card debts that the business has accumulated over the period. EQUITY Equity is the amount that is given back to the company shareholders at the time of liquidation when all the debts are cleared, and the assets are liquidated. CASH FLOW STATEMENT Cash flow gives the total amount of capital moving in and out of business during a specific time period. BALANCE SHEET The balance sheet is a financial statement which provides the business owner with the information about the company’s assets, liabilities, equity, debts, and more.

  4. Although your bookkeeper in Melbourne will help you in the preparation and analysis of the financial statements, you too should have the basic knowledge of the terms to understand the deductions.

  5. FIRST UPCONSULTANTS To know more, visit: (03) 9088 0251 https://www.agibookkeeping.com.au/10-business-financial-terms-you-need-to-know/

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