Glossary - FCC AgExpert Community

Glossary > Glossary (21 entries)

A

A Accounts Payable: An amount owing to a creditor, usually arising from the purchase of goods or services, that is due to be paid within a 12- month ...
B

B Backup: The process of making a duplicate copy of your data for security purposes. Balance Sheet ...
C

C Capital: Applies to unincorporated businesses only. It is the original owners’ investment plus net profit and any additional investments or contributions less drawings. Also referred to as ...
D

D Debt Coverage: A figure that illustrates the cash generation of the business. It is calculated by taking net profit and adding back all the non-cash expenses. ...
E

E Employer Number: An assigned CRA account number for all of your payroll deduction remittances. Enterprise: A ...
F

F Fair Market Value: The value of an asset in the current marketplace. Feeder Finance Loans: Short-term ...
G

G Gain (Loss) on Disposal of Assets: The excess of sale proceeds over the net book value (purchase price less accumulated depreciation) of a fixed asset. This is ...
H

H HSF: Health Services Fund. HST: Harmonized Sales Tax.
I

I Income: The inflow of cash or other properties received in exchange for providing goods or services. ...
L

L Land: Considered to have an indefinite life, so does not depreciate. On a corporate financial statement, is usually recorded at original cost and includes direct purchase expenses. ...
M

M Machinery, Equipment & Vehicles: Includes all machinery and equipment owed by the business. On a corporate financial statement is usually recorded at purchase cost less accumulated depreciation ...
N

N Net Farm Income/ Net Profit or Loss: The excess of revenues over expenses for a given period of time. If expenses exceed revenue, the difference is called ...
O

O Off-farm Income (net): Employment, investment or business income earned outside of the farm operation less all deductions from source including income taxes, CPP and EI premiums. This ...
P

P Paid-up Capital: That part of issued capital for which settlement has been received. Par Value: A ...
Q

Q Quota: An intangible asset that is a license, or right, to sell a certain amount of a specific commodity.
R

R Residual After Debt Service: Debt service capacity minus debt service requirements. Residual for Growth: Residual after ...
S

S SBRN: Single Business Registration Number Selling Expenses: All expenses relating directly to selling and promoting company ...
T

T T4: Statement of Renumeration Paid. Tangible Assets: Something substantial or real that is capable of being ...
U

U Un-issued Capital: The portion of authorized capital stock for which no shares have been issued.
V

V Variable Cost: A cost that is uniform per unit, but that fluctuates in total in direct proportion to changes in the related total activity or volume.
W

W Work in Progress: The cost of uncompleted goods still on the production line. Working Capital: Current assets minus current ...