60-Second Commute: A Guide to Your 24/7 Home Office Life, The

Glossary

Balance sheet:

A balance sheet is a summary of what your business is worth (assets) versus what your company owes (liabilities). Assets include cash, accounts receivables, inventory, and equipment. Liabilities include debts to creditors, loans to banks, accounts payable, and income taxes.

Business plan:

Consider a business plan as your road map for plotting out how you will manage, market, finance, plan, and set future goals for your business.

Cable Modem:

This modem allows you to access the Internet through your cable line. It also requires an alteration in your computer that your cable company will install (usually called a “surfboard”).

Calendar year:

A type of tax year, the calendar year reflects a 12-month accounting period starting with ...