Business encyclopedia
Learn everything there is to know about running a business
Filtered results for “F”
We found 7 results starting with the letter “F”
Financial Statement
A financial statement is the combination of the three major reports on a business.
Fulfillment
Fulfillment refers to the process of preparing and delivering a customer’s order.
First in First Out (FIFO)
The first in, first out accounting method assumes that sellable assets, such as inventory, raw materials, or components acquired first were sold first.
Focus Group
A focus group is a market research method that brings together 6-10 people in a room to provide feedback regarding a product, service, concept, or marketing campaign.
FOB Shipping Point
FOB is a shipping term that stands for “free on board.” If a shipment is designated FOB (the seller’s location), then as soon as the shipment of goods leaves the seller’s warehouse, the seller records the sale as complete.
Fiscal Year
A fiscal year is an annual period where businesses track income and expenses for reporting to the Internal Revenue Service (IRS).
Fixed Cost
Fixed costs are those expenditures that do not change based on sales (or lack thereof).