Financial Basic Terms

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Across
  1. 2. the overall movement of funds through your business each month, including incomes and expenses
  2. 4. immediate debts that must be repaid within one year
  3. 6. the total amount a business has earned or last at the end of a specified accounting period
  4. 7. things your company is responsible for by law
  5. 8. those that are not critical for a company to provide its product or service, but which are nevertheless essential to establish and run a business
  6. 9. summarizes the profits and losses incured during a specified period
  7. 11. any cost that is "ordinary and necessary" to run a business or trade
  8. 12. long-term assets or non-current assets, these are things that are of a fixed nature because they cannot be easily converted into cash
  9. 16. in this asset class, you would include things that can be easily converted into cash
  10. 17. shows the money that entered and exited a business during a specific period of time
  11. 18. those assets that you can see and touch
Down
  1. 1. the amount that clients owe to a business
  2. 3. hese assets are those that are required for a business to complete its day-to-day functions
  3. 5. include any assets that are, well, not tangible
  4. 10. debts or obligations your company must repay in over a year
  5. 13. assets are the economic resources a business has
  6. 14. money a business makes or loses due to theft or destruction
  7. 15. subtracts your company's total liabilities from it's total assets