Relier Pairs Fiscal TermsVersion en ligne Fiscal Terms for the Home Child Care Business Sessions par Heather B 1 Expenses 2 Separation of Duties 3 Assets 4 Fiscal Year 5 Internal Controls 6 Forecasting 7 Revenue 8 Liabilities Money spend and costs incurred to run the program. Having more than one person complete a task. This is considered an internal control to help reduce risk. Everything with an economic value the program owns. Processes that help reduce risk and provide reasonable assurance about the integrity of financial information, the effectiveness of operations, and compliance with laws. Debts that the program is responsible to pay. Revenue is the total amount of money collected for services or goods sold before any expenses are subtracted. The process of using historical financial information to predict future business trends. Owners can use it to estimate future budgets and make financial decisions during the year. A 12-month period of time used for tax and accounting purposes and preparing financial statements. The fiscal year can coincide with the calendar year. However, it can also be different, depending on business needs.
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