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3 Tutorials that teach Financial Planning
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Financial Planning

Financial Planning

Author: Jeff Carroll
Description:

This lesson discusses the role of financial planning in an organization.

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Tutorial

Source: Image of accounting ledger, dollar sign, block arrow, images by Video Scribe, License held by Jeff Carroll; Image of storefront, Public Domain, http://bit.ly/1l51GoG.

Terms to Know
Accounting equation (A = L + OE)

Assets is equal to the Liabiabilities and Owner’s equity.

Assets

Items that are solid (such as a building) or abstract (such as a brand) that can produce value and/or adds monetary value.

Balance Sheet

A ledger that compiles the holdings, liabilities and funds; laying out the income and expenditures, of an organization during a specific point in time.

Income Statement (R - E = P or L)

A report reflecting the income (R/ revenue) minus the expenses (E) for a set period of time.

Liability

An item that is a present burden.

Owners' equity

This is a mathematical formula indicating the owner’s contributions to the organization minus the liabilities of the organization.

Revenue

The money acquired by an organization during a specific period of time

Statement of Cash Flows

A report reflecting the amount of revenue created and spent during a specified period of time.