Active Vocabulary

· accounts receivable: money owed to a company by its debtors

· accounts payable: money owed by a company to its creditors

· achieve: successfully finish or do something you wanted to do, especially after a lot of effort

· assets: items owned by a company, such as money, property, or land

· budgeting: calculating how much money you must earn or save, and planning how you will spend it

· convert: exchange one type of currency, share, etc. for another

· default: failure to repay a loan or debt

· double-entry system: system of bookkeeping in which each transaction is entered as a debit in one account and a credit in another

· earnings: a company's profits in a particular period

· error: mistake

· equity: the value of the assets and money that a person or

(net worth) business has, after their debts are taken away

· figures: numbers, statistics

· gain: get or achieve something; a profit or an increase

· ins (receipts): total amount of money received by a business

· intangible: which has value for a business, although it does not exist as a physical object

· issuance: shares or bonds which are offered for sale by a company

· liabilities: amount of money that a person or company owes

· outs (payments): total amount of money to be paid

· performance: functioning; how well a company works

· pricing: setting of selling prices for products and services supplied by a company

· provide: make available for use; supply

· return: amount of profit made by an investment or a business activity

· tangible: able to be shown; real, existing as a physical object

· total: including everything in a calculation; the whole number

· working capital: money which is available for use immediately, rather than money which is invested in land or equipment