Skip Nav

Key Terms in an Introduction to Business

Join Get Revising

❶The subjects covered in an introduction to business can vary depending upon the course of study. Some terms associated with the everyday bookkeeping of financial activity include accounts receivable, accounts payable, long- and short-term liabilities, assets, inventory and capital accounts.

Business Tips and How To's

Business Type and Structure
Already a member?
Thanks for signing up!

Business location- Where a business is located. Sole trader- A business owned by one person. Partnership- A business owned by people. Limited liability- When the owners posessions are not at risk even if their business has debt. Public limited companies- Businesses that can sell shares on the stock exchange. Public sector businesses- Businesses owned by the government. Franchising- Big named businesses allowing entrepeneurs to sell products under their name.

Decentralised structure- A business that spreads decision making. Organisational charts- Charts showing the structure of a business. Tall structure- Businesses that have lots of layers within the business structure. Flat structure- Businesses that have few layers within the business structure. Market research- Researching the market. Download a free cash flow statement template here.

Download a free income statement template here. This includes the cash it has on hand, the notes payable it has outstanding and owner s equity in the business. Download a free balance sheet template here. To remain financially healthy , a business must have a regular profit that exceeds its losses.

Profits and losses are usually itemized on a profit and loss statement, also known as the income statement defined above. In business finance terms, the money a business has in its accounts, assets and investments is known as capital. In business, there are two major types of capital: Usually the client is notified by invoice of the amount owed, and if not paid, the debt is legally enforceable.

For tax purposes, a business can recover the cost of that depreciation through a deduction. When a business seeks funding from investors , those investors want to know the overall worth of that business. This is accomplished through a valuation , which is an estimate of the overall worth of the business.

However, it is important to know the basic financial terms that will come up in conversations with colleagues, potential clients and investors. By maintaining oversight of operations through financial reports and budget maintenance , a business can increase its chances of success.

For more help on the basics of business finances, check out our guide to financial statements and financial reporting. This article currently has 57 ratings with an average of 4. Welcome to the Intuit Inc. Home Articles Guides Tools Videos. Achieve Let us help you take your business further — contact us today for a wellness review. Financing We provide a range of business lending solutions. Come talk to us. Borrowing Do you qualify for an SBA loan? The answer may surprise you. Let us help you see if you qualify.

Payment Solutions Streamline payments and see your sales grow.

Main Topics

Privacy Policy

Listed below are 50 key terms that AQA BUSS1 students need to ensure they understand and can define / explain in the exam. A process through which a business increases the worth of the resources included in production so that customers perceive the product to be worth more than the cost of the.

Privacy FAQs

Business Key Terms. STUDY. PLAY. Need. A good or service essential for living. Want. A business based upon the use of the brand names, promotional logos and trading methods of an existing successful business. The franchisee buys the license to operate this business from the franchisor.

About Our Ads

Business Glossary of business terms - A to Z Handy definitions of financial and economic jargon - from libor and quantitave easing to black swans and dead cat bounces. Start studying Business - Key Terms. Learn vocabulary, terms, and more with flashcards, games, and other study tools.

Cookie Info

Study Flashcards On Business Key Terms at Quickly memorize the terms, phrases and much more. makes it easy to get the grade you want!/5(1). Business Type and Structure. Businesses can be either publicly traded or privately held. Within these two broad categories there are a variety of business .