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- iHaveNet.com: Small Business Guide
Term | Definition |
---|---|
Cash | Cash on hand in all checking, savings, and short-term investment accounts when books were closed at the end of the fiscal year |
Accounts receivable | Income derived from all products or services for which you bill. Calculate this number based on what is logged into the books at the close of the fiscal year |
Inventory | Take this from the cost of goods table. It is inventory of material used to manufacture your company's products |
Current assets | Includes cash, accounts receivable, inventory and other assets |
Long-term or fixed assets | Long terms assets are so called because they will last more than one year as opposed to short-term assets that are spent or used up in manufacturing |
Capital and plant | Book value or equipment and property, less depreciation |
Investment | Investments of the company that cannot be converted into cash in less than one year |
Long-term assets | Capital and plant plus investments and any other assets |
Total assets | Sum of total assets and total long-term assets |
Liabilities | Liabilities are also categorized as current or long-term |
Accounts payable | All expenses that are due and payable |
Accrued liabilities | Expenses incurred that have not been paid when books are closed |
Taxes | Due and payable when books are closed |
Total current liabilities | Accounts payable plus accrued liabilities plus taxes |
Long-term liabilities | Liabilities that are not due in the next 12 months |
Bonds payable | Bonds at end of year that are due over a period exceeding one year |
Mortgage payable | The mortgage amount due when books close |
Notes payable | Amount owed on long-term debt that will not be paid during current fiscal year |
Total long-term liabilities | Bonds payable plus mortgage payable plus notes payable |
Total liabilities | Total current plus long-term liabilities |
Owners equity | Total assets minus total liabilities |
Small Business Guide
- Starting Up Your Business
- Coming Up With a Winning Business Idea
- Common Startup Mistakes
- The New Rules for Startups
- Business Incubator FAQs
- Naming Your Business
- Researching Your Business
- Your Personal Savings
- Registration, Licenses, and Permits
- Getting a Tax ID Number
- Fast-Growth Startup Resources
- Structuring Your Business
- Overview: Corporations
- State Offices of Incorporation
- Incorporate Out of State?
- Writing a Partnership Agreement
- Choosing a Board of Directors
- Basics of a C Corporation
- Basics of an S Corporation
- Basics of an LLC
- Basics of a Sole Proprietorship
- Basics of a Non-Profit Corporation
- Basics of a Professional Corporation
- Basics of a General Partnership
- Basics of a Limited Partnership
- Your Company's Public Relations
- Elements of a Successful Public Relations Campaign
- How to Use Your Press Coverage Effectively
- Press Releases
- How to Write a Successful Press Release
- Sample Product/Service Press Release
- Sample Commentary Press Release
- Sample Event Press Release
- Sample Tips Press Release
- Sample Personnel Press Release
- Effective Competitive Analysis
- Managing Purchasing to Maximize Cash Flow
- Top Six Pricing Mistakes Businesses Make
- How to Avoid Lowering Your Prices
- Bidding Basics
- Hiring Staff
- Creating an Effective Job Description
- Do You Know How to Pick Them?
- Little-Known Hiring Resources
- Classifying Contract Workers
- Tips for Successful Interviewing
- What You Can't Ask in a Job Interview
- New Hire Paperwork
- Small Business Insurance
- Types of Insurance for Small Businesses
- Small Business Insurance FAQs
- Insurance Resources for Small Businesses
- Home Office Insurance: Myths & Realities
- Small Business Resources
- Government Resources for Small Business on the Web
- Resources for Women Entrepreneurs
- Fast-Growth Startup Resources
- Small Business Security Resources
- Taking Time Off
- Your Pre-Vacation Checklist
- How to Take a Vacation
- Learning to Delegate
- Getting Away When You Can't Get Away
- Preparing for Tax Season
- Year-End Planning Tax Savers
- 10 Ways to Pay Less in Tax
- 25 Common Business Deductions and Expenses
- Avoid These Common Errors and Audit Triggers
- Understanding the Home Office Deduction
- Corporate Income Taxes Primer
- Employment Taxes Primer
- Sales Tax Primer
- Sole Proprietorships and Partnerships Tax Primer
- How to Get a Filing Extension
- Year-End Reconciliation
- Getting the Most from Your Accountant
- Developing Accurate Financial Projections
- Cash Flow
- 10 Ways to Help Increase Your Cash Flow
- Cash vs Accrual Accounting
- Bookkeeping and Record Keeping Basics
- Quick Ways to Get Through a Cash Crunch
- Projecting Cash Flow
- Cash Flow Triage
- Getting Funding
- Cash Flow Through Factoring
- Small Business Investment Corporations (SBIC)
- Traditional Funding Sources
- Non-Traditional Funding Sources
- Your Company's Credit
- How to Read a Business Credit Report
- Credit Terms Glossary for Your Small Business
- How to Protect and Improve Your Business Credit Rating
- Give Your Business the Financing Edge
- Employee Compensation
- Employee Benefits
- Bonuses: How To Be Fair
- Workers' Compensation Q&A
- Keeping Workers' Compensation Costs Down
- Payroll Management Choices
- Key Elements of Payroll
- Working with a Payroll Service Provider
- How to Create a Business Plan
How to Start Your Own Business: Creating a Business Plan - Balance Sheet Glossary
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