Asset
A resource controlled by a business that is expected to provide future economic benefit.
Definitions
Explore common terms in veterinary analytics, accounting, and practice management.
Balance sheet
A financial statement showing an organization’s assets, liabilities, and equity at a specific point in time.
Benchmark
A comparison reference used to help evaluate a financial or operational measure. A benchmark provides context; it is not automatically a performance target.
Best Practice
VizVet guidance describing a recommended approach to managing, measuring, or improving an aspect of veterinary operations or finance.
Cash flow
The movement of cash into and out of a business during a period. Profit and cash flow are not the same.
Chart of Accounts (COA)
The structured list of accounts a veterinary organization uses to classify and report its financial activity.
Companion document
A document or tool designed to work with other materials addressing the same topic.
Contribution margin
Revenue remaining after subtracting the variable costs associated with generating that revenue. The calculation depends on which costs are treated as variable.
Cost of Goods Sold (COGS)
The accounting category for costs directly associated with products and services sold during a reporting period. It is not always the same as direct cost or variable cost.
Current asset
An asset expected to be converted to cash, sold, or used within the organization’s normal operating cycle or within one year.
Current liability
An obligation expected to be paid or settled within the organization’s normal operating cycle or within one year.
Direct cost
A cost that can be specifically and reasonably traced to the product, service, procedure, department, or activity being measured. Directness describes traceability, rather than whether a cost changes with activity volume.
Definitions
Explore common terms in veterinary analytics, accounting, and practice management.
Asset
A resource controlled by a business that is expected to provide future economic benefit.
Balance sheet
A financial statement showing an organization’s assets, liabilities, and equity at a specific point in time.
Benchmark
A comparison reference used to help evaluate a financial or operational measure. A benchmark provides context; it is not automatically a performance target.
Best Practice
VizVet guidance describing a recommended approach to managing, measuring, or improving an aspect of veterinary operations or finance.
Cash flow
The movement of cash into and out of a business during a period. Profit and cash flow are not the same.
Chart of Accounts (COA)
The structured list of accounts a veterinary organization uses to classify and report its financial activity.
Companion document
A document or tool designed to work with other materials addressing the same topic.
Contribution margin
Revenue remaining after subtracting the variable costs associated with generating that revenue. The calculation depends on which costs are treated as variable.
Cost of Goods Sold (COGS)
The accounting category for costs directly associated with products and services sold during a reporting period. It is not always the same as direct cost or variable cost.
Current asset
An asset expected to be converted to cash, sold, or used within the organization’s normal operating cycle or within one year.
Current liability
An obligation expected to be paid or settled within the organization’s normal operating cycle or within one year.
Direct cost
A cost that can be specifically and reasonably traced to the product, service, procedure, department, or activity being measured. Directness describes traceability, rather than whether a cost changes with activity volume.
© 2026 VizVet. All rights reserved.
© 2026 VizVet. All rights reserved.