Glossary

I l @ ve RuBoard

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 January 1st and finishing on December 31st of each year. Most companies choose to use this form of tax year because it coincides with their personal income filing.



Cash flow statement:

Analyzes the money that comes in versus the money that goes out.



COBRA:
See [Consolidated Omnibus Budget Reconciliation Act of 1985]
Color Psychology:

A discipline of psychology that examines how color can affect a person's mood and energy levels.



Consolidated Omnibus Budget Reconciliation Act:

Enacted in 1985, COBRA, as it is better known, provides a way for people to continue their health care insurance after they have left their jobs.



Copyright:

A copyright protects your expression of an idea and prevents others from using an original work of expression such as art, music, and books without the written consent of the copyright owner.



Corporate bylaws:

Created by the corporation, bylaws describe how the corporation will run. The bylaws of a corporation describe the responsibilities of the shareholders, corporate officers, and board of directors.



CPU:

Stands for Central Processing Unit. It's the "guts" of your computer.



DBA:

"Doing business as." Known also as a fictitious business name, a DBA indicates that you are operating a business under a name other than your own. Typically, the county and state require that the name is registered and a certificate is obtained.



DSL Lines (Digital Subscriber Lines):

Digital subscriber lines are used for Internet access and transmit over copper lines, and require that you be a certain distance from a DSLAM (a type of master equipment). DSL offers lightning fast connections and excellent reliability.



e-Commerce:

The business of doing business on the Internet.



Employee:

According to the IRS, an individual is an employee of your business if you control what will be done, how it will be done, and what the salary will be.



Employer identification number:

Also known as a EIN, an employer identification number identifies your business for tax filing purposes, much like a social security number identifies you as a taxpayer . It is issued by the IRS and appears in a nine-digit format that looks like this: 00-0000000.



Feng Shui:

For practitioners, this is a way of contemplating space in a home or office and creating harmony, health, peace of mind, and wealth. Usually considered a Chinese discipline or science, there are now American schools and practitioners from all backgrounds.



FICA:

Formerly known as the Federal Insurance Contributions Act, FICA is actually two taxes rolled into one (Social Security and Medicare taxes) and are withheld from your paycheck.



Fiscal year:

A type of tax year, the fiscal year covers a 12-month period and refers to the accounting period used for your financial records and for filing to the IRS.



FUTA:

Formerly known as the Federal Unemployment Tax Act, FUTA is paid separately from FICA and withholding income tax. FUTA taxes are paid by employers for the purpose of compensating employees who lose their jobs.



Hard Drive Memory:

Different from RAM. These are the physical hard disks that actually hold the programs and the data. A computer can have more than one of them, and users can buy many gigabytes of hard disk memory for a fraction of what such internal storage capacity once cost.



Independent contractor:

According to the IRS, an independent contractor is a self-employed individual who is hired to do a specific job by a company or person but who is not controlled by that company or person.



Instant Messaging:

Instant messaging (IM) software allows users to "chat" in "real time" and receive messages pretty much instantly, as the name implies. For corporate needs, most IM software now includes "tracking" capabilities to follow a stream of dialogue.



Intellectual property:

Intellectual properties, or IP's, refer to the unique ideas, product designs, formulas, recipes, logo, articles, or jingles that are protected under the law by a trademark, trade secret, patent, or copyright.



Internet Provider:

America Online (AOL) remains the most popular provider. Others include Microsoft Outlook, Hotmail, Yahoo! and so on. The Internet provider is the " pathway " if you will or the access point onto which you can jump on and "surf" the Internet



ISDN:

Integrated Services Digital Network, is a service provided by local telephone companies. By modifying regular telephone lines, ISDN allows you to transmit data significantly faster than even the fastest regular or analog modems, as well as transmit large files. ISDN lets users transmit data, voice, and video simultaneously on one line.



JAZZ drive:

Similar to a Zip drive but holds almost a gigabyte of memory.



Nondisclosure agreement:

Also known as confidentiality agreements or NDA's, a nondisclosure agreement is a document that protects your designs, business formulas, client lists, and trade secrets from being used by anyone else without your written consent.



Patents:

A patent protects the invention and works of an inventor from being stolen or copied by somebody else.



Profit and loss statement:

Also known as a P&L, a profit and loss statement shows how much money your business is bringing in and how much your business is spending.



Public domain:

Anyone can use certain works in music, art, and literature because there are no copyright laws placed upon them. Federal government publications fall under public domain and can be used freely by everyone.



Quarterly taxes:

Quarterly taxes are paid by self-employed individuals who do not have employer withholding income tax taken from their paychecks each week. These taxes are called quarterly taxes because they are paid on a quarterly schedule.



RAM:

Random access memory.



Service mark:

A trademark for service indicating that your business name is nationally registered and protected under federal law.



Stock shares:

Stock shares represent a percentage of ownership in a corporation.



Tax year:

A tax year refers to the accounting period used for your financial records, reporting income and expenses, and filing to the IRS. There are two types of tax years “ calendar year and fiscal year.



Telecommuting:

A term used to describe people who "commute" to the "on-site" office of a company from an "off-site" or satellite location. Can be used interchangeably with "Teleworking," though some individuals or companies may approve of one term over another.



Teleworking:
See [Telecommuting]
Term Life Insurance:

Term life insurance does not have a cash surrender value. Premiums are cheaper.



Trademark:

A trademark ( ¢ ) is a name, symbol, catchy word or phrase, or device that makes your product easily identifiable and distinguishes it from others.



Trade secret:

A trade secret can be a formula, recipe, customer list or an invention that gives you the upper hand over your competitors .



Whole Life Insurance:

Whole life has a cash surrender value. Premiums are higher than term life insurance.



Zip drive:

A Zip can hold about 100 megabytes of information. A Zip drive is used, most often, for backing up critical files and for transferring files from one computer to another.



I l @ ve RuBoard


The 60-Second Commute. A Guide to Your 24.7 Home Office Life
The 60-Second Commute: A Guide to Your 24/7 Home Office Life
ISBN: 013130321X
EAN: 2147483647
Year: 2003
Pages: 155

flylib.com © 2008-2017.
If you may any questions please contact us: flylib@qtcs.net