Merge pull request #262 from hyphacoop/master

update in brower

Finance/glossary.md

@@ -0,0 +1,74 @@
+# Finance Glossary
+
+#### Accounts Payable (AP)
+A company's short-term obligations to pay for goods and services it has received but has not yet paid for. It reflects the amount of money tht a Hypha owes to its suppliers, vendors, and creditors.
+
+#### Accounts Receivable (AR)
+The amount of money owed to a business by its customers or clients for goods sold or services provided on credit.
+
+> Togther with recoverable cash, this is what is owed to Hypha
+
+
+#### Assets
+All the resources and items of value that the company owns. These include:
+* Cash
+* Cryptocurrency
+* Accounts receivable and recoverable money
+* Prepaid expenses
+* Capital assets
+
+#### Capital Assets
+* Also known as "fixed assets" or "long-term assets", they are expected to provide benefits over an extended period of time, typically exceeding one year.
+* They are not intended for resale in the normal course of business.
+* They depreciate over time.
+* Example: our servers at the data centre.
+
+#### Cash
+Money we hold in the bank.
+
+#### Cryptocurrency
+Cryptocurrency tokens we hold in our wallets.
+
+#### Deferred income
+* Also known as "deferred revenue" or "unearned revenue", this is income that a company has received but has not yet earned.
+* Considered a liability on the balance sheet until the company fulfills its obligation by delivering the products or services.
+
+#### Direct Costs
+Also known as variable as "variable costs" or "prime costs", these are expenses that can be specifically and directly attributed to the production of a particular product, the delivery of a particular service, or a specific project.
+
+### Expenditures
+Money that a company spends or pays out in order to cover various costs, expenses, or investments. Expenditures can encompass a wide range of financial transactions and can be categorized into different types based on their purpose. 
+
+
+#### Gross Profit
+The profit a company earns after deducting the cost of goods sold (COGS) from its total revenue. It's a fundamental measure of a company's profitability, focusing specifically on the profitability of the company's core operations.
+
+#### Liabilities
+Debts, obligations, or financial responsibilities that Hypha owes to another party. They represent claims against a company's assets and are typically categorized on a company's balance sheet.
+
+> What Hypha owes
+
+#### Liquidity
+How much money we have access to right now to pay expenses. This includes access to money we hold, but may not belong to us (e.g. credit cards).
+
+#### Net Assets
+The amount of money Hypha holds in its Members, Reserve, and Treasury funds.
+
+#### Prepaid Expenses
+Something that has been paid in advance: we either get the goods, services, or our money back.
+
+#### Recoverable Cash
+Money we paid that we will get back (e.g., HST).
+
+> Together with AR, this is what is owed to Hypha
+
+#### Revenue
+The total income generated by a Hypha from its primary activities, such as the sale of goods, provision of services, or other sources of income.
+> How much Hypha billed
+
+#### Statement of Financial Position
+* Also known as a "balance sheet", it's the snapshot of a company's financial positon at a specific point in time.
+* It helps stakeholders assess the company's financial health and its ability to meet its financial obligations
+
+#### Wages Payable
+How much the company owes to its employees for work they have performed but has not yet been paid.

SUMMARY.md

@@ -45,6 +45,7 @@
    * [Reporting HST](./Finance/reporting-hst.md)
    * [Expense Reimbursement](./Finance/expense-reimbursement.md)
    * [Add an Employee](./Finance/add-employee.md)
+   * [Glossary](./Finance/glossary.md)
 
 ## Infrastructure 
    * [Calendar](./Infrastructure/calendar.md)