Terms used in business plan

Revenue - also known as turnover the amount earned before expenses, tax and other deductions. It lists all of your assets and liabilities and works out the net assets.

Stock - the actual goods or materials a business currently has on hand. Certificate of Competency A certificate issued by the Small Business Administration SBA stating that the holder is "responsible" in terms of capability, competency, capacity, credit, integrity, perseverance, and tenacity for the purpose of receiving and performing a specific government contract.

Our Music’s Just Good Business

Financial statement - a summary of a business' financial position for a given period. Direct Cost Any cost that is identified specifically with a particular final cost objective.

Default Failure of a vendor to comply with the terms and conditions of a contract. Shareholder's equity - see Net assets. It appears to the consumer that the Finance Manager is being helpful in holding the page still but in reality the technique is used to deceive the customer into believing that the numbers, such as the price, etc, are the same as what was talked about earlier when, in reality, they are not.

Our glossary contains the most common phrases and jargon used together with the definition of what it actually means. What differentiates the organization from its competitors in the eyes of customers and other stakeholders?

What Demographics and Psychographics Mean for Small Business Marketing

This could not be further from the truth. Also used when a salesman is finished talking to a prospective buyer. A type of contract in which the exact date of delivery or the exact quantity are not specified until a delivery or task order is issued.

Thanks for your feedback. Well, here is the big secret - you can always do better. And you use all of them when you're enjoying a night out.

Written contracts may consist of a standard form agreement or a letter confirming the agreement.

Government Contracting Terms & Definitions

The tower controls the payment quotes, the price, the down payment and trade in terms. Petty cash - cash for the purposes of small miscellaneous purchases such as postage. Cost or Pricing Data All facts that, as of the date of price agreement, or, if applicable, an earlier date agreed upon between the parties that is as close as practicable to the date of agreement on price, prudent buyers and sellers would reasonably expect to affect price negotiations significantly.

This forecast is different from a Profit and Loss Account, which records the date products become sold or costs incurred. Essential elements of a contract For a contract to be legally binding it must contain four essential elements: A technique used by some car dealers to get the sales papers signed by the consumer without the consumer realizing that the numbers on the papers have been increased above what was orally discussed with the consumer, such as, the dealership Finance Manager holds the stack of sales papers still with one hand planted in the middle of the top document while pointing to the signature line with the other hand and asking the buyer to just sign here and here and here, etc.

Many of them failed and Carl was forced to shut them down within the first year of business.

What Does “Scale” Mean in Business?

Destination Free on board at destination; i. Further, strategic planning functions remote from the "front lines" or contact with the competitive environment i. To adjust a customer's monthly payment.A privacy policy is your company disclosure statement to inform customers how their personal information will be collected, stored, disclosed to third parties and used on the site.

Your privacy policy should be unique to your business. Are website terms and conditions and a privacy policy required. Business Plan: Your Financial Plan.

Glossary of business terms - A to Z

Business Plan: Describing Your Business; Business Plan: Analyzing Your Industry Your financial statements should show both a long- and short-term vision. Business Glossary of business terms - A to Z Handy definitions of financial and economic jargon - from libor and quantitave easing to black swans and dead cat bounces Home reversion plan.

As you prepare to do market research for your small business or startup, it’s important to understand two key terms: demographics and psychographics. Demographics are the average or typical characteristics of your target market — the people who buy your products or services.

In business, the term "financial plan" is often used to describe the expected financial performance of an organization for future periods.

The term "budget" is used for a financial plan for the upcoming year. Jul 03,  · A SIMPLE IRA plan (Savings Incentive Match PLan for Employees) allows employees and employers to contribute to traditional IRAs set up for agronumericus.com is ideally suited as a start-up retirement savings plan for small employers not currently sponsoring a retirement plan.

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Terms used in business plan
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