Terms starting with
Break Even Point
The level of sales at which total revenue equals total costs, meaning the business makes no profit but also no loss. It’s a key metric…
READ MOREBook Value
The net value of an asset or business recorded on the books, calculated as the original cost minus depreciation or liabilities. For a company, it's…
READ MOREBookkeeping
The daily recording and organizing of all financial transactions, sales, purchases, receipts, and payments. It’s the foundation of accounting, keeping the business’s financial records clean…
READ MOREBiling
Billing is the process of issuing invoices to customers for goods or services provided. It’s a critical part of the revenue cycle, documenting what’s owed…
READ MOREBenchmarking
Comparing a company’s performance metrics like profit margins, costs, or productivity against industry standards or top competitors. It helps identify strengths, spot weaknesses, and set…
READ MOREBank Statement
Bank statement is a document issued by a bank summarizing all transactions in a specific account over a set period. It includes deposits, withdrawals, charges,…
READ MOREBank Reconciliation
The process of matching a company’s internal accounting records with its bank statement to identify discrepancies, errors, or missing transactions. Regular reconciliations ensure accuracy in…
READ MOREBank Overdraft
Bank overdraft is a negative bank balance that happens when withdrawals exceed available funds, but the bank covers the shortfall. It’s essentially a short-term loan…
READ MOREBalance Sheet
It is a snapshot of a company’s financial position at a specific point in time. It lists assets, liabilities, and owner’s equity, following the formula:…
READ MOREBad-debt
Bad debt is a money owed to a business that is unlikely to be collected, usually from customers who can’t or won’t pay. It's written…
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