The Income|Outcome® Business Contextuary is an illustrated glossary of corporate finance. It uses Visual Finance™ to contextualize financial terms within the ‘big picture’ of financial results. Where examples are provided, they use results taken from the Round Number Company which is Andromeda’s ‘made-up company’ that uses simple numbers. The Appendix presents the financial statements and Visual Finance views for the Round Number Company as well as an explanation of how to read Visual Finance. If you want to see real-world companies represented in the Visual Finance format, please refer to the Visual Finance App. Please keep in mind that our definitions are simplified with the intent of clarifying the basic concepts (and to connect them to our Income|Outcome business simulations). For some terms we present accepted definitions that conflict with each other. If in doubt, ask your Finance Department to see how these terms are used in your company. You can also refer to more robust websites with detailed GAAP explanations, but they do not deliver simplicity. FASAB: This site is the official source of GAAP for federal entities in the U.S. It contains the FASAB Handbook of Accounting Standards and Other Pronouncements, which is an authoritative and comprehensive document of GAAP for federal entities. Investopedia: This site provides comprehensive explanations of various financial concepts, terms, and topics. It also offers articles, videos, courses, and tools to help users learn and apply financial knowledge. Be aware that some of the Investopedia definitions appear to contradict each other. BDC, the Business Development Bank of Canada, has a similar glossary in dual language (French-English). This illustrated glossary of corporate finance is also available online at Income|Outcome.
The Income|Outcome® Business Contextuary and the Visual Finance™ app were developed by Andromeda Simulations International, Inc. to complement the Income|Outcome Business Simulation. Information about the simulation can be found at www.income-outcome.com.
The Income/Outcome Business Contextuary has been released under a Creative Commons License: https://creativecommons.org/licenses/by-sa/4.0/. Translations of the Creative Commons license can be found at www.creativecommons.org.
If you would like to add your translation, please let us know. You may request new terms for the contextuary by writing us at contextuary@income-outcome.com