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An account in the general ledger representing the amount owed by the business to its creditors on open purchased of goods and/or services.
- Browse Related Terms: Accounts Payable, Accounts Receivable, Bank Reconciliation, Corporation, Hawaii Capital Loan Program (HCLP), Market, Marketing, Obligations, Partnership, Ratio, Return on Investments (ROI), Services Corps of Retired Executives (SCORE), Subchapter "S" Corporation
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An account in the general ledger representing the amount due the business from its customers for goods and/or services sold on credit.
- Browse Related Terms: Accounts Payable, Accounts Receivable, Bank Reconciliation, Corporation, Hawaii Capital Loan Program (HCLP), Market, Marketing, Obligations, Partnership, Ratio, Return on Investments (ROI), Services Corps of Retired Executives (SCORE), Subchapter "S" Corporation
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The gradual reduction of debt by periodic payment sufficient to pay current interest and to eliminate the principal at maturity. This is also the term used for gradual reduction/writing off over a period of time in the book value of fixed or intangible assets, deferred charges and prepaid expenses, bond discount and bond premium, etc.
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All of that which a business owns, including cash, merchandise inventories, real estate, equipment, supplies, copyrights, etc.
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Statement of financial position of a business at a particular point in time; lists what is owned and owed.
- Browse Related Terms: Amortization, balance sheet, Depreciation, equity, Lease, Liablities, net worth
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A formal comparison of the balance in the checking account as shown on the bank statement with the balance of the cash account in the general ledger, at a given date.
- Browse Related Terms: Accounts Payable, Accounts Receivable, Bank Reconciliation, Corporation, Hawaii Capital Loan Program (HCLP), Market, Marketing, Obligations, Partnership, Ratio, Return on Investments (ROI), Services Corps of Retired Executives (SCORE), Subchapter "S" Corporation
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Projections based on analysis of past operating experience, payment of obligations, and collection of receivables. This experience is applied to budgeted sales and costs for a future periodi in order to allow for repayment of loan obligations and to assure adequate working capital from earned income. Cash flow forecasts provide a fundamental financial-management tool for planning cash needs and ensuring adquate liquidity.
- Browse Related Terms: assets, Cash Flow, Financing, Investment Company, Mortgage, SBA Guaranteed Loan, SBIC, Sole Proprietorship
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A legal entity created under the laws of a state to carry on some business or other authorized activity. The principal distinction between a business corporation and other forms of business organization (i.e., proprietorship or partnership) is the fact that the liability of the owners is limited to the capital of the subject corporation.
- Browse Related Terms: Accounts Payable, Accounts Receivable, Bank Reconciliation, Corporation, Hawaii Capital Loan Program (HCLP), Market, Marketing, Obligations, Partnership, Ratio, Return on Investments (ROI), Services Corps of Retired Executives (SCORE), Subchapter "S" Corporation
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The decline in value of a limited-life tangible asset, such as a building, machine, vehicle, equipment, furniture, etc., due to age, and to the normal wear and tear of use. In general, depreciation assigns to a fiscal period a portion of the original cost of the capital cost asset.
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The value of an enterprise or property that is owned; the actual value of the owner's financial interest in an enterprise.
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The provision of operating funds to a business (by either loans or purchase of debt securities or capital stock).
- Browse Related Terms: assets, Cash Flow, Financing, Investment Company, Mortgage, SBA Guaranteed Loan, SBIC, Sole Proprietorship
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Authorized by state law, this loan program is administered by the State Department of Business, Economic Development & Tourism to assist small businesses unable to obtain adequate financing through other sources. Maximum HCLP loan amount is $1 million per application at a low interest rate of 7.5 percent per year.
- Browse Related Terms: Accounts Payable, Accounts Receivable, Bank Reconciliation, Corporation, Hawaii Capital Loan Program (HCLP), Market, Marketing, Obligations, Partnership, Ratio, Return on Investments (ROI), Services Corps of Retired Executives (SCORE), Subchapter "S" Corporation
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SBICs (Small Business Investment Companies) and MESBICs (Minority Enterprise Small Business Investment Companies) are SBA-licensed, privately owned and operated investment companies which provide equity capital and long-term loans to independent business concerns. A MESBIC invests only in independent business concerns having at least 50 percent ownership by minorities.
- Browse Related Terms: assets, Cash Flow, Financing, Investment Company, Mortgage, SBA Guaranteed Loan, SBIC, Sole Proprietorship
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A contract between the owner (lessor) and the tenant/user (lessee) stating the conditions under which the tenant/user may occupy or use a property, a vehicle, equipment, etc.
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The sum of debts or obligations of a business. Normally, the liabilities appear on the credit side of a balance sheet. This may be further broken down into current liabilities, long-term liabilities, etc.
- Browse Related Terms: Amortization, balance sheet, Depreciation, equity, Lease, Liablities, net worth
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A place where products and services and their competitive substitutes are brought and sold, an opportunity to sell, or the demand for goods and services.
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Group of related business activities aimed at satisfying the demand for goods and services.
- Browse Related Terms: Accounts Payable, Accounts Receivable, Bank Reconciliation, Corporation, Hawaii Capital Loan Program (HCLP), Market, Marketing, Obligations, Partnership, Ratio, Return on Investments (ROI), Services Corps of Retired Executives (SCORE), Subchapter "S" Corporation
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A deed, usually to real estate, given to secure the repayment of a loan made by the mortgagee (lender).
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Property owned (assets) minus debts and obligations (liabilities).
- Browse Related Terms: Amortization, balance sheet, Depreciation, equity, Lease, Liablities, net worth
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Any kind of indebtedness; an encubance or commitment. Proprietorship (See: Sole proprietorship)
- Browse Related Terms: Accounts Payable, Accounts Receivable, Bank Reconciliation, Corporation, Hawaii Capital Loan Program (HCLP), Market, Marketing, Obligations, Partnership, Ratio, Return on Investments (ROI), Services Corps of Retired Executives (SCORE), Subchapter "S" Corporation