Real estate broker: A person who has taken education beyond the agent level as required by state laws and has passed a broker’s license exam. Brokers can work alone or they can hire agents to work for them. Real estate salesperson: Another name for a real estate agent.

Capital budgeting, or investment appraisal, is the planning process used to determine whether an organization’s long term investments such as new machinery, replacement machinery, new plants, new products, and research development projects are worth the funding of cash through the firm’s capitalization .

Fictitious assets also have no physical existence but they only include the assets having the nature of deffered revenue expenditures viz, deffered advertisement expenses, discount on issue of shares or debentures. These are the assets out of which benefit or profit for more than one accounting is availed.

A bill receivable is a document that your customer formally agrees to pay at some future date . The bill receivable document effectively replaces, for the related amount, the open debt exchanged for the bill. Bills receivable are often remitted for collection and used to secure short term funding.

Earnings per share  is the monetary value of earnings per each outstanding share of a company’s common stock.

Net worth  is the total assets minus total outside liabilities of an individual or a company. Net worth is used when talking about the value of a company or in personal finance for an individual’s net economic position.

Working capital is the money needed to fund the normal, day to day operations of your business. It ensures you have enough cash to pay your debts and expenses as they fall due, particularly during your start-up period.

Straight line depreciation is the default method used to reduce the carrying amount of a fixed asset consistently over its useful life.

Deferred tax asset arises when a company actually pays more in taxes to the IRS than they show as an expense on their income statement in a reporting period.

Goodwill is a long-term asset categorized as an intangible asset. Goodwill arises when a company acquires another entire business.