Financial glossary
Plain English definitions of the financial terms that matter most for UK small businesses. No jargon. No accounting degree required.
Cash & forecasting
Reporting & profitability
What is a profit and loss statement?Revenue, costs, and profit explained
→What is a balance sheet?Assets, liabilities, and equity
→What are management accounts?Monthly financial reports for decision-making
→What is gross margin?The most important number on your P&L
→What is budget variance?Plan vs actual spending
→What is EBITDA?Earnings before interest, tax, depreciation and amortisation
→Debtors & working capital
Know these numbers without looking them up.
CFO Pal calculates every term above automatically from your Xero, QuickBooks or Sage data, updated every sync.
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