1. Sarah McAllister, Jolie Richards, Lydia Martin
Financial & Pricing
Sarah McAllister, Jolie Richards, Lydia Martin

2. Accounting
~The action or process of keeping financial records ~Purpose is to provide information to different people within the business to make informed economic decisions

3. Balance Sheets
~States the assets, liabilities, and capital of a business at a particular point in time ~Details income and expenditures over a period of time ~Used to show current financial standing of the company

4. Balance Sheets
~Assets: property owned by a company that can be used to settle debts, commitments, or legacies ~Liabilities: a debt or financial obligation ~Capital: wealth in the form of money or other assets by a person or organization used with the purpose to start a company

5. Net Worth
~The total assets minus total liabilities ~Defined in terms of liquidity, net assets, and liabilities ~Liquidity: the ability to convert an asset to money quickly ~The strength of a business is determined by whether or not the value of their assets is more than the value of their liabilities

6. Annual Reports
~A summary of income and expenditures over the last fiscal year ~Is issued to shareholders and other regulatory organizations ~Balance sheets are often part of annual reports