Accounting Terms

2. The amount left after the total expenses are subtracted from gross profit
5. A summary of your current personal financial condition
8. The Money the business receives from selling products or services
9. Gross profit minues the operating expenses
10. Total of all sales for a given period of time
11. The difference between assets and liabilities
13. Anything of value that a person owns, such as cash, checking and savings, accounts, real estate, or your stocks
14. The money paid for the use of money borrowed or invested
15. Net Sales minus the cost of goods sold

1. The cost of producing the goods or services
3. Projections of how much money a new business owner needs for the business' first year of operation
4. A summary of a business' assets, liabilities, and owners equity
6. The expenses of running the business
7. Pretax profit minus taxes
11. The amount left after gross sales have been adjusted for returns and allowances
12. A debt that you owe to others, such as car payment, credit card debt, rental payment, or taxes