POB Ch 12

1. used to report the revenue, expenses and net income or loss from operations for a specific period - usually 3-6 months
4. shows the assets, liabilities, and owner's equity for a specific date and is usually prepared monthly or quarterly; must be prepared at least once each year
5. describes the financial plan for ongoing operations of the business for a specific period of time
8. used to record and analyze the financial performance of a business
10. all income a business receives over a period of time
12. an estimate of the actual money received and paid out for a specific period of time
13. plans income and expenses from the beginning of a new business or a major business expansion until it becomes profitable
16. the documentation used to process earnings payments and record each employee's pay history
17. what a company owes

2. the costs of operating a business
3. the process by which funds are deposited electronically and available automatically for use
6. the comparison of a company's financial elements that indicate how well the business is performing
7. differences between actual and budgeted performance
9. the value of the owner's investment in the business
11. what a company owns
14. provides detailed plans for the financial needs of individuals, families and businesses
15. the financial record of employee compensation, deductions and net pay