BACK-END
LOAN - A
fee for selling or redeeming shares or units of a mutual fund.
BAD DEBTS
- Money
owned to you or your business that you can't collect.
BALANCE
- The amount
of money remaining in an account.
BALANCE
SHEET - The
financial statement that shows what a business owns and owes (the
value of the assets, liabilities and owner's equity) at one point in
time
(on a specific date).
BALANCE
SHEET EQUATION
- The accounting equation reported in the balance sheet.
BANK
LOAN PAYABLE
- The claim of a bank against the total assets of the borrowing
business.
BANK RATE
- The rate
set each week by the bank.
BASIS
POINT - One
one-hundredth of one per cent.
BLENDED
PAYMENT -
A loan payment, consisting of principal and interests, that is the same
each month. Because the total payment amount remains fixed, the amount
applied against principal each month varies. An example is a mortgage
payment.
BOOKKEEPING
- The
process of classifying and recording business transactions in the
accounting
records.
BOOK
VALUE - The accounting
value of an asset.
BREAK-EVEN
POINT -
The level of business at which the revenue (income) exactly equals the
expenses (outgo).
BUDGET
- A plan expressed
in money terms.
BUSINESS
TRANSACTION
- In the accounting, a business transaction is a financial event
affecting one
or more of
the fundamental elements of the accounting equation.
|
