1. Introduction to Business Lecture 45
Financial Management
Introduction to Business
Lecture 45

2. Income Statement A statement which tells income or loss.
It is also called profit and loss account.

3. Revenue Vs. Profit Revenue is income.
Profit is obtained after deducting expenses from revenue.

4. Trading Concern
An organization which buys goods for reselling.

6. Finance Thinking and considering for long term investments.
Generating revenues to pay back these investments.
To perform day to day activities of an organization.

7. Ratio Analysis Ratios tell us relationship among financial figures.
These can be:
Relationship between current assets and current liabilities.

8. Budgeting A plan or an estimate for future expenses and revenues.
It will be prepared before the start of the business.