Enterprise: Strand 2 Business Studies Dictionary Cash


Cash budget


Cash flow


forecast Credit


Debtor Grant


A business needs cash to pay bills, buy materials and cover delays in payments from suppliers (debtors). It is very important to have enough cash.


Shows all the projected (planned/likely) cash coming in to a business and all the projected (planned/ likely) cash going out. This is usually shown on a month-by- month basis.


Shows all the projected (planned/likely) cash coming in to a business and all the projected (planned/ likely) cash going out. This is usually shown on a month-by- month basis.


Buying on credit is when a business purchases items and pays for them later.


Creditor Someone/organisation that we buy goods from on credit. We owe them. Our business will pay them at a later date. They are a liability – something that we owe.


Someone/organisation that we sell goods to on credit – they owe us. They are an asset – something of value.


A sum of money given to an organisation for a particular purpose. Businesses can receive grants from Local Enterprise Offices (LEOs), Enterprise Ireland, the government and the European Union (EU). Grants often have certain conditions attached to them, e.g. to create jobs.


Hire


purchase (HP)


A method of buying over a period of time. You pay a deposit on an item and then pay off the rest in instalments. When the last instalment has been paid, you own the item.


Leasing Hiring something, usually equipment. This saves having to pay out large sums of money to purchase the items. Leasing could be used for motor vehicles, machines and equipment.


Loan


Money that is borrowed for a given period and has to be repaid with interest. Sometimes the lender may ask for security in case the business runs into financial difficulty. This is called a secured loan.


Overdraft A facility provided by a bank. The borrower is given permission to take out more from their bank account than they have put in. The bank will set a maximum limit (an agreed amount) for the overdraft. Interest is charged on the overdraft daily.


Stock control


Ensuring that the business has the right amount of stock. Too much stock is a waste of cash, as stock can become damaged and out of date. Too little stock could lose the business customers.


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