Basic Accounting Terminology | Budgets | Marketing | Financing |
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What is a balance sheet?
This financial statement will provide a snapshot of the company's current financial condition.
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What are sales budget, production budget, cashflow/cash budget, marketing budget, project budget, and expenditure budget?
These are the six types of commonly used budget types for businesses.
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What is marketing?
It is the art of grabbing the potential customer's attention which will, hopefully, lead to a purchase.
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What is self-financing?
By utilizing this type of financing, you provide the funds needed to start a small business.
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What is an income statement?
The financial statement is used to summarize the amounts of revenues earned, and the expenses incurred by a business or entity over a period of time.
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What is Specific, Measurable, Attainable, Realistic, and Time Driven?
The acronym SMART stands for this.
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What are product, price, promotion, and place?
The four P's of marketing are these.
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What are grants?
When looking for money for your business, apply for these. You don't have to pay them back.
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What is accounts receivable?
This type of record is used to keep track of money that is owed to a business.
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What is a sales budget?
This type of budget estimates future sales. It is usually broken down into units and dollars and helps to create company sales goals.
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What loyalty programs, incentives, personal communication, and direct mail?
For repeat purchases, consider these types of customer service.
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What are family, friends, and fools?
According to the investing video, you can ask these three F's for money to start your company.
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What is inventory
It can be described as either a list of goods and materials or the goods and materials themselves.
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What is an expenditure budget?
This budget estimates what expenses the organization will have for a time. It could include supplies for sale, office supplies, and bills.
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What are who, what, where, and when?
The four W's of a marketing campaign are these.
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What is a bank loan?
This type of loan is based on your credit, a solid business plan, experience, assets, and a personal guarantee to pay back.
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What are assets
Probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events.
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What are List, Order, assess, Determine?
These four steps will help you determine if you need to budget for additional special circumstances.
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What are power words?
You, love, new, safety, save, results, health, guarantee, discover, proven, are all these type of words when creating a marketing campaign.
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What are private equity, venture capital, and angel investors?
The three most common types of investors are these.
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