ELearning Video Narration: \"Financial Terms\"
Description
Vocal Characteristics
Language
EnglishVoice Age
Middle Aged (35-54)Accents
North American (General) North American (US West Coast - California, Portland)Transcript
Note: Transcripts are generated using speech recognition software and may contain errors.
As a business owner, you know, you need to look at your financial statements to understand the health of your business and how to plan for growth. But if you've ever felt confused, trying to understand financial terms, you're not alone. Here are 13 basic terms. You'll need to find your way around your financial statements. Let's start with revenue and expenses. Revenue is what a business earns when it sells a product or service. When this restaurant's customers pay by cash or card or are sent an invoice for catering, completed, that's revenue. Even if cash isn't received right away and expenses when resources are used to generate revenue, paying a supplier, employees, the rent and utilities are all common expenses. But again, this may not mean that cash is paid out when the restaurant pays a vendor and cash credit or check, it's an expense in managing your business. It's important to recognize the difference between two kinds of expenses, cost of goods sold or cost of sales and operating expenses.