Business English Vocabulary Lesson for ESL - Finance & Accounting Vocabulary 2
Free
10 minutes
English

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Description

The content delves into the world of accounting and finance, highlighting key terms that are essential for businesses to understand. The balance sheet is discussed as a summary of a company's financial position at a specific point in time, typically at the end of its financial year. It should reflect the value of everything the company owns (assets) and owes (liabilities). Assets are explained as anything owned by a company that can be converted into cash or used to generate income, with examples including accounts receivable from customers and tangible assets like buildings. The content also covers liabilities, defining them as financial obligations or debts held by a company, with common types including accounts payable, bank loans, and outstanding taxes. Effective management of liabilities is highlighted as critical for good financial planning, with the distinction made between short-term and long-term liabilities. This foundational knowledge in finance can aid businesses in making informed decisions and managing their financial health. learn more

Professions

Venture Capitalist Management accountant Investor Financial Planner Financial Analyst Financial Advisor Cost Accountant Business Manager Business Consultant Banker Auditor Accountant

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