The science of keeping track of business transactions, of analyzing them and
of reporting their results in a systematic manner, through the use of books
and journals of accounts.
The wholly owned property of a person or business.
A document summarizing the state of a business at a given date and doing
this with a presentation of assets, liabilities and owner's equity.
A situation arising from an individual or business ceding its assets to pay
for its liabilities or when assets are frozen following a court order, in
order to pay for debts.
Document drawn up in order to forecast the future operations of a business
and to plan and control these operations.
Repairs, changes or improvements made to a building owned by an individual
or a business. These usually result in increasing the value of a property.
A list of future activities presented in an orderly fashion in order to
reach the goals of a business.
The amount supplied by each shareholders in a business. It also refers to
the net worth of shareholders or owners of a business.
The number of potential clients likely to buy from a business.
CORPORATION or COMPANY
A legal entity separate from its owners or shareholders.
An amount taken from business operations and representing a systematic
reduction of the value of an asset. This amount is taken regularly from the
residual value of the said asset over the expected life of the asset.
A portion of profits divided equally among the shares and paid out to
shareholders according to the number of shares belonging to each.
All the accounting statements summarizing the situation or evolution of the
financial status of a business, presented in an accepted form on a regular
A recognition of present trends and an appreciation or estimation of their
future impact and consequences.
A contractual right granted by a franchiser (the one with the idea or
product) to a franchisee (the one who will exploit this right) . This right
usually is limited to a specific territory and explicitly determines the
methods of operation.
The amount exceeding the value of tangible assets, when buying an
established business concern. This is an intangible asset, as its value is
determined by the amount a buyer is willing to pay, in excess of the true
value of tangible assets.
GROSS RENT PER SQUARE FOOT
Rental cost of premises expressed annually in dollars per sq. ft., not
including the costs incurred by common areas, such as maintenance, security,
lobby and corridors, toilets and cleaning costs and supplies, or heating and
Repairs, changes or improvements made to rented premises by the person or
business renting this space.
The annual amount a business derives from sales of goods or services. It
also means a person's annual remuneration.
A tax imposed directly on individuals and businesses, accordČing to the size
The sum of the merchandises, raw materials or semi-finished goods in the
possession of a business. These sums are usually expressed in quantity and
in dollar value.
A contractual agreement between individuals or businesses where one party,
the lessor, agrees to rent a given asset to a lessee, for a given period of
time, at a given price. The lessor provides the asset and the lessee pays to
The sum of a business' debts (by extension for an individ-ual's).
The operations that are necessary to terminate the existence of a business,
sell its assets, pay off its debts and, if any, distribute the excess money
to the owners.
The excess of operating costs over operating income, over a specific period
of time (usually one year) . (Note: le texte etait incomplet, MP)
The art of offering people what they want while making a profit.
NET RENT PER SQUARE FOOT
Rental cost of premises expressed in annual dollars per sq. ft., including
all costs incurred by common areas.
One who joins forces, talents and assets, with one or more individuals to
operate a business.
The contractual arrangement spelling out that two or more individuals
(partners) will combine talents and assets to run a business.
Life insurance purchased by partners on one another's life to compensate
surviving partners and allow them to buy back from the estate of a deceased
partner his share in the business.
A method of doing a task, of making a product or of performing a service.
The excess of operating income over operating costs, over a given period of
Amounts due to a seller, resulting from sales on credit. It is considered an
asset in business and can serve as a means to borrow money. Future
collections serve as the loan guarantee.
REGISTERED SOLE OWNERSHIP
A business enterprise belonging to one owner and registered as such
according to the law of the area where the business operates.
An amount paid to the owner of an asset by the user of this asset. A rental
agreement will usually set the amount to pay, when to pay and for how long,
for the use of what asset owned by whom, and to be used by who else.
What is left of insurance coverage, from a life insurance policy, once the
person subscribing to the policy has borrowed money, against the accumulated
cash value of the policy.
The owner of one or more shares of a company or corporation.
The excess of assets over liabilities is called shareholder's or owner's
equity in business. This information is found in the balance sheet.
The excess of short term assets over short term liabilities. It expresses
the ability of a business to pay its debts and to have some short term
assets (liquidities) left over for operations.