Financial Statements, Written reports that describe the financial health of a company; prepared regularly on quarterly and annual basis., Balance Sheet, Reports assets, liabilities, and owner’s equity on a certain date, Assets, Anything of value that is owned by the business., Liabilities, Money owed by the business (debts, accounts payable), Owner’s Equity, Net worth of the business, Audit, To conduct an official financial examination of an individual's or organization's accounts., Income Statement, Financial Statement of a business that reports the revenue, expenses and the net income (loss) of a business for the fiscal period., Revenue, Amount of money that a company earns, Expenses, Costs of maintaining and operating a business., Income/Profit, Results when a business’s income is greater than its expenses., Loss, Results when a business’s expenses are greater than its income., Budget, A budget is an estimate of income and expenditure for a set period of time, Financial Manager, Top level professional who may have final responsibility for aspects of a business’ financial activity, Accountant, Professional who produces and examines financial records, prepares financial reports and tax returns; may give budget, tax or investment advice to company/customer, Certified Public Accountant (CPA), Accountants who meet specific educational requirements and pass a national examination, Auditor, Professional whose work involves checking on the accuracy of work completed by bookkeepers and accountants, Bank Teller, Bank employee who handles deposits, withdrawals, selling travelers checks, accepting loan payments, preparing money orders.

Accounting

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