1. BUSINESS ACCOUNTING

2. The purpose of accounting is to help you make better financial decisions.

3. BUSINESS ACCOUNTING  You also need to keep financial records for tax purposes.

4. BUSINESS ACCOUNTING  Cost of Sale or Cost of Goods Sold: The cost of labor, materials and overhead cost to create or make a product.

5. BUSINESS ACCOUNTING  Revenue/Income: the money received by a business through the sale of a product or service

6. BUSINESS ACCOUNTING  Profit: The amount received for a product or service in excess of the original cost.

7. BUSINESS ACCOUNTING  Expenses: any money spent as part of the business.

8. BUSINESS ACCOUNTING  Inventory: The amount of product on hand.

9. BUSINESS ACCOUNTING  Interest: the money paid for borrowing money.

10. WHAT ARE SOME OF THE COST OF SALE ITEMS IN OUR BUSINESS?  Ingredients  Advertising  Packaging

11. WHAT ARE SOME SOURCES OF REVENUE A BUSINESS MIGHT GENERATE?  Sales  Stocks  Interest

12. WHAT ARE SOME TYPES OF EXPENSES A BUSINESS MIGHT GENERATE?  Rent  Cost of sales  Utilities  Taxes  Business licenses  Banking/Interest