A financial statement that shows a company’s assets, liabilities, and equity at a specific point in time.
Other Terms Beginning With “B”
B2B, or Business to Business, sales indicate that a business sells its goods or services to other business, not direct to consumers. Invoice factoring is only available to Business to Business or Business to Government (B2G) sales.
B2C, or Business to Consumer, sales indicate that a business sells its goods or services directly to consumers, not to other business or governmental bodies. Invoice factoring is only available to Business to Business (B2B) or Business to Government (B2G) sales.
B2G, or Business to Government, sales indicate that a business sells its goods or services to governmental bodies or entities, not direct to consumers. Invoice factoring is only available to Business to Government or Business to Business (B2B) sales.
The amount that a buyer is expected to pay, typically expressed in hourly or daily rates, for services rendered. This is common in the temporary staffing industry.
The process of recording, managing, and reporting of a company’s financial transactions. Sound bookkeeping is vital for business planning, investing, and financial decision making.
Short-term funds that provide immediate financing for situations not addressed by conventional lenders. These include, but are not limited to: acquisitions, tax liens, renovation, and restructuring.
Business Line of Credit
A traditional credit line serviced by a bank. Typically has long approval times and stringent requirements inclduing 2 years of tax returns, audited financials, personal financial statements, cash flow, and projections. Alternatively, you can obtain an invoice factoring facility based solely on creditworthy invoices or A/R aging.