Adjusted Gross Income (AGI) Adjusted Gross Income (AGI), a crucial concept in taxation, represents an individual’s or business’s total income minus specific deductions. It serves as the starting point for…
Cash Flow Statements Cash flow statements are an important financial document that provides a summary of the cash inflows and outflows of a company over a specific period of time.…
Business Asset A business asset is an item of value owned by a business. It can be tangible, such as a building, equipment, or inventory, or intangible, such as a…
General Ledger A general ledger is a comprehensive record of all financial transactions of a business, organization, or other entity. It is a collection of accounts that are used to…
Capital Expenditure (CapEx) Capital expenditure, abbreviated as CapEx, refers to the funds invested by a company to acquire, upgrade, or maintain physical assets such as property, equipment, buildings, and vehicles.…
Profit and Loss Statement (P&L) A profit and loss statement, also known as an income statement, is a financial statement that summarizes a company’s revenues, expenses, and profits over a…
Balance Sheet A balance sheet is a financial statement that provides a snapshot of a company’s financial position at a specific point in time. It summarizes the company’s assets, liabilities,…
Angel Investor An angel investor is a high-net-worth individual who provides financial backing to early-stage startups or entrepreneurs. Unlike venture capitalists, who typically invest larger sums of money in more…
Business Cycle A business cycle is a recurring pattern of economic growth and decline. It is characterized by four distinct phases: expansion, peak, contraction, and trough. During the expansion phase,…
Business Valuation Business valuation is the process of determining the economic value of a business. It is used for a variety of purposes, including determining the worth of a company…