Premium Essay

Glossary of Accaunting

In: Business and Management

Submitted By AirLlanas
Words 2581
Pages 11
Account -- a record of financial transactions; usually refers to a specific category or type, such as travel expense account or purchase account.
Accountant -- a person who trained to prepare and maintain financial records.
Accounting -- a system for keeping score in business, using dollars.
Accounting period -- the period of time over which profits are calculated. Normal accounting periods are months, quarters, and years (fiscal or calendar).
Accounts payable -- amounts owed by the company for the goods or services it has purchased from outside suppliers.
Accounts receivable -- amounts owed to the company by its customers.
Accrued expenses, accruals -- an expense which has been incurred but not yet paid for. Salaries are a good example. Employees earn or accrue salaries each hour they work. The salaries continue to accrue until payday when the accrued expense of the salaries is eliminated.
Aging -- a process where accounts receivable are sorted out by age (typically current, 30 to 60 days old, 60 to 120 days old, and so on.) Aging permits collection efforts to focus on accounts that are long overdue.
Appreciation -- an increase in value. If a machine cost $1,000 last year and is now worth $1,200, it has appreciated in value by $200. (The opposite of depreciation.)
Assets -- things of value owned by a business. An asset may be a physical property such as a building, or an object such as a stock certificate, or it may be a right, such as the right to use a patented process. Current Assets are those assets that can be expected to turn into cash within a year or less. Current assets include cash, marketable securities, accounts receivable, and inventory. Fixed Assets cannot be quickly turned into cash without interfering with business operations. Fixed assets include land, buildings, machinery, equipment, furniture, and long-term investments. Intangible Assets…...

Similar Documents

Premium Essay

Glossary

...Business law Glossary Chapter 1 stare decisis “let the decision stand”; the principle that the decision of a court should serve as a guide or precedent and control the decision of a similar case in the future. administrative regulations rules made by state and federal administrative agencies. case law law that includes principles that are expressed for the first time in court decisions. common law the body of unwritten principles originally based upon the usages and customs of the community that were recognized and enforced by the courts. constitution a body of principles that establishes the structure of a government and the relationship of the government to the people who are governed. duty an obligation of law imposed on a person to perform or refrain from performing a certain act. equity the body of principles that originally developed because of the inadequacy of the rules then applied by the common law courts of England. law the order or pattern of rules that society establishes to govern the conduct of individuals and the relationships among them. precedent a decision of a court that stands as the law for a particular problem in the future. private law the rules and regulations parties agree to as part of their contractual relationships. procedural law the law that must be followed in enforcing rights and liabilities. right legal capacity to require another person to perform or refrain from an action. right of......

Words: 2003 - Pages: 9

Premium Essay

Sbp Glossary

...Glossary Chapter 2- Money and Credit Other Depository Corporations (ODCs) The other Depository Corporations consists of all resident financial corporation’s (except the central bank) and quasi-corporations that are mainly engaged in financial intermediation and that issue liabilities included in the national definition of broad money. It includes Scheduled Banks, Development Financial Institutions (DFIs), Microfinance Institutions (MFIs) and all Depository NBFIs. Depository Corporations (DCs) Depository Corporations refers collectively to the Other Depository Corporations (ODCs) and Central Bank (CB) where Central Bank (CB) is the national financial institution that exercises control over key aspects of the financial system and caries out such activities as issuing currency, regulation money supply and credit, managing international reserves, transacting with the IMF, and providing credit to other depository corporations. Reserve Money (M0) Reserve Money is an indicator used to measure money supply in the economy and includes currency in circulation (held with Public), other deposits with State Bank of Pakistan; currency in tills of schedules bank’s and bank deposits with SBP. M0 is used to measure the most liquid assets which can be spent most easily. M0 is sometimes referred to as the monetary base. Deferred Tax Assets The amount of income taxes recoverable in foreseeable future periods in respect of: i) Deductible temporary differences ii) The carry forward of unused tax...

Words: 5717 - Pages: 23

Premium Essay

Critical Thinking Glossary

...CRITICAL THINKING GLOSSARY Affirming the consequent Example -If it's raining then the streets are wet. The streets are wet. Therefore, it's raining. If p then q. q. Therefore, p. Argument from ignorance this fallacy is committed if it is argued that since p has not been proved true, it must be false (or that since p has not been proved false, it must be true). Argument 1 The building blocks of arguments The purpose of an argument  establishing, rather than simply stating a point Attacking the person this fallacy is committed if it is argued that p is false on the grounds that it is advanced by a particular person, for example because that person stands to gain from our acceptance of it as true or because that person’s behaviour is not consistent with the truth of p. CogencyCogency The characteristic of a cogent argument. A cogent argument is one such that if the premisses are true, then the conclusion is more likely to be true than false. Both valid and strong inductive arguments are cogent. Deductive argument an argument which attempts to prove certain conclusions based on what is contained in the premises alone, eg ‘All cats have tails. Felix is a cat therefore Felix has a tail.’ Denying the antecedent occurs when a premiss of an argument denies the truth of the antecedent of a conditional premiss, then concludes by denying the truth of the conditional premiss' consequent (see the Form). This form of argument is non-validating If p then q. p....

Words: 607 - Pages: 3

Premium Essay

Debt Glossary

...Appendix: Debt Glossary External debt: total liabilities of a country with foreign creditors, both official (public) and private. Creditors often determine all the terms of the debt contracts, which are normally subject to the jurisdiction of the foreign creditors or to international law (for multilateral credits). Total government debt (total public debt): total debt liabilities of a government with both domestic and foreign creditors. The “government” normally comprises the central administration, provincial governments, federal governments, and all other entities that borrow with an explicit government guarantee. Government domestic debt: all debt liabilities of a government that are issued under—and subject to—national jurisdiction, regardless of the nationality of the creditor or the currency denomination of the debt (therefore it includes government foreign-currency domestic debt, as defined below). Terms of the debt contracts can be market-determined or set unilaterally by the government. Government foreign-currency domestic debt: debt liabilities of a government issued under national jurisdiction that are nonetheless expressed in (or linked to) a currency different from the national currency of the country. Central bank debt: not usually included under government debt (despite the fact that it usually carries an implicit government guarantee). Central banks usually issue such debt to facilitate open market operations (including sterilized......

Words: 323 - Pages: 2

Premium Essay

Typography Glossary

...Typography Glossary STYLES: Black: Script with angular outlines developed in Germany which superceded the lighter Roman of the 12th century. The term is also applied to types developed from it, such as Fraktur, Gothic and Old English. Bold: A version of the Roman cut with wider stroke. Also called medium, semi-bold, black, super or poster. Book: Weight of a typeface suitable for setting large areas of text. Caps: Typeset with most or all initials in capitals and other letters in small caps instead of lower case. Condensed: A narrower version of the Roman cut. Decorative: Fancy or speciality fonts for headings, etc. Dingbat: A decorative device usually incorporated with pi format. Expanded: Type that is elongated in width proportionate to its height. Italics: A version of the Roman cut that angles to the right t some point between 7-20 Degrees. Oblique: A slanted version of Roman cut. Often mistakenly referred to as “italics”. Plain: Roman: The basic letterform. Sans Serif: A font without decorative serifs. Typically with little stroke thickness variation, a larger x-height and no stress in rounded strokes. Script: A typeface designed to imitate handwriting. Serif: A small stroke at the end of a main vertical or horizontal stroke. Also used as a classification for typefaces that contain decorative rounded, pointed, square or slab serif finishing strokes. Slab Serif: A font with heavy, squared off finishing......

Words: 1624 - Pages: 7

Premium Essay

Glossary of Digital Marketing Terms

...Glossary of Digital Marketing Terms Compiled by: HiveMind Marketing, Inc. 1724 Alberta Avenue San Jose, CA 95125 1.866.781.8195 info@hivemindinc.com A Above The Fold: Above the fold refers to banner advertisements which are displayed at the top of a web page. In Internet marketing terms, it refers to information placed at the top of an email or webpage, so that visitors see it first, without scrolling. Acquisition Cost: The price it costs a business to gain a new customer, client, or supplier. Ad Rotation: When a web page shows a different ad at the top of the page each time it is viewed by a new person, or when the web page is refreshed. Ad Tracking: A method used to check how many hits or clicks an ad receives. It is a useful tool for discovering where the most revenue comes from, and how to better personalize ads to reach more customers, and encourage more new customers. Adsense: Google's pay-per-click, context-relevant program available to blog and web publishers as a way to create revenue. Adwords: Google’s pay-per-click advertiser program. Affiliate Program: A program where other people known as affiliates agree to advertise for the sponsor's site. In return, they receive commission or residual payment. Aggregation: Gathering information from multiple web sites, typically via RSS. Aggregation lets web sites remix the information from multiple web sites, for example by republishing all the news related to a particular keyword. Aggregator: A......

Words: 5864 - Pages: 24

Free Essay

Gsl Glossary

...Global  Strategy  &  Leadership  Semester  2  2013         Glossary   7-­‐S  model   Tool  for  testing  whether  a  proposed  strategy  will  achieve  its  aim  by  asking  whether  it  is  in  alignment  with  the   following  major  areas:  Strategy,  Structure,  Systems,  reSources,  Skills,  Style  and  Shared  values.     Ansoff  product-­‐market  matrix   Framework  for  considering  possible  alternatives  and  options  for  an  organisation’s  growth  based  on  the  product  and   market  focus     Balanced  scorecard   Performance  management  tool  organised  around  four  distinct  perspectives  which  balance  short-­‐term  and  long-­‐term   performance,  external  and  internal  performance,  financial  and  non-­‐financial  performance  and  different  stakeholder   perspectives.   BCG  (Boston  Consulting  Group)  Matrix   Tool  to  assess  the  organisation’s  products  in  terms  of  market  growth  and  the  organisation’s  market  share,  making  it   easier  to  identify  any  promising  product  areas  that  are  either  core  to  the  organisation ...

Words: 2623 - Pages: 11

Premium Essay

Digital Marketing Glossary

...Digital marketing glossary A AB TESTING With regards to SEM AB testing is a means of testing single variable test subjects (such as a web page) against a control element with the aim of improving customer response. Also sometimes referred to as Split Testing. ACTUAL COST PER CLICK The amount you actually pay for each click, considering your click through rate and the performances of your competitor ads. In this way, you may get to pay less than you bid. AD GROUP An ad group can contain one or more ads targeting the same group of keywords. AD RANK/AD POSITIONING The ad rank is calculated by considering the bid (max. cost per click), the click through rate and ad text. AD SERVED PERCENTAGE The number of times an ad is displayed, in relation to the number of searches and the other ads in the ad group. ADSENSE An advertising program by which Google acts as the intermediary between content sites and web advertisers. ADWORDS DISCOUNTER The Google tool that allows you to pay less that your maximum bid, as soon as your competition loosens. ADWORDS PRODUCT PLUSBOX When your AdWords ad appears, and your Google Base feed contains a product that is relevant to the user’s query, the Product Plusbox shows the images, titles, and prices of your products under your ad. For more on this feature visit the dedicated page. AFFILIATE DIRECTORY A list on the web where you can find affiliate programs. AFFILIATE LINK A......

Words: 4448 - Pages: 18

Premium Essay

Statistical Glossary

...STATISTICAL GLOSSARY −−2 log likelihood (ratio) test: Used in logistic regression, it is a form of chi-square test which compares the goodness of-fit of two models where one model is a part of (i.e. nested or a subset of) the other model. The chi-square is the difference in the –2 log likelihood values for the two models. A priori test: A test of the difference between two groups of scores when this comparison has been planned ignorant of the actual data. This contrasts with a post hoc test which is carried out after the data have been collected and which has no particularly strong expectations about the outcome. Adjusted mean: A mean score when the influence of one or more covariates has been removed especially in analysis of covariance. Alpha level: The level of risk that the researcher is prepared to mistakenly accept the hypothesis on the basis of the available data. Typically this is set at a maximum of 5% or .05 and is, of course, otherwise referred to as the level of significance. Analysis of covariance (ANCOVA): A variant of the analysis of variance (ANOVA) in which scores on the dependent variable are adjusted to take into account (control) a covariate(s). For example, differences between conditions of an experiment at pre-test can be controlled for. Analysis of variance (ANOVA): An extensive group of tests of significance which compare means on a dependent variable. There may be one or more independent (grouping) variables or factors. ANOVA is essential in the......

Words: 6542 - Pages: 27

Premium Essay

Glossary Human Resources

...Glossary Globalization - a process in which companies in countries around the world are increasingly linked by their activities and the opportunities they provide each other. Human Resource activities - the formal hr policies developed by a company as well as the actual ways these policies are implemented in the daily practices of supervisors and managers. Human Resource Certification Institute (HRCI) - the best-known certification provider for HR professionals. Human Resource code of ethics - a code that states that hr professionals must regard the obligation to implement public objectives and protect the public interest as more important than an employer’s preferences. Human Resource Management (HRM) system - a system developed by an organization to understand, create, coordinate, align, and integrate all of their policies and practices. Human resources - all of the people who currently contribute to doing the work of an organization, as well as those people who potentially could contribute in the future and those who have contributed in the recent past. Intangible human assets - an organization’s assets, comparatively social in nature, that include such organizational characteristics as an employer-of-choice reputation, the depth of employee talent and loyalty, and the ability to innovate and change. Multinational corporations (MNC’s) - firms with operations in multiple countries. Social media - a set of technologies and communication channels targeted at forming and......

Words: 330 - Pages: 2

Free Essay

Glossary of Customs

...of Glossary of Customs Terms |Accounting | |Simplified name for Canada Customs coding form used by customs brokers to submit | |Document | |complete import shipment details including HS codes, valuation, and origin | | | |information. Also called B3 or Entry. | |ACI |Advanced Commercial |Program that provides CBSA officers with electronic pre-arrival cargo information | | |Information |from various carriers and freight forwarders in order to identify health, safety | | | |and security threats related to commercial goods before the goods arrive in | | | |Canada. ACI program Phase I and Phase II covers goods shipped via air mode and | | | |marine mode, respectively. ACI program Phase III covers highway and rail shipments| | | |via the eManifest method. | |ACIS |Automated Customs |CBSA computerized, bilingual, 24/7 telephone service that automatically answers | | |Information System |all incoming calls and provides general pre-recorded customs information. | |ACROSS ...

Words: 1278 - Pages: 6

Premium Essay

Glossary

...BMAN 20081/20611 Financial Statement Analysis Glossary of terms |US term |UK/European term |Description | |10-Q |Quarterly report |Publicly available document, usually | | | |produced for the stock market, containing| | | |quarterly results | |10-K |Annual report |Required document produced yearly by a | | | |company, including the audited financial | | | |statements | |20-F |No equivalent |Required document that has to be filed | | | |with the US SEC (see below) if a company | | | |is listed on the US stock market as well | | | |as in another country (e.g. UK and US). | | ...

Words: 373 - Pages: 2

Premium Essay

Glossary

...Glossary Notes: Note 1: CICA Part I applies to publicly accountable enterprises, CICA Part II ASPE applies to private enterprises; CICA Part III ASNFPO applies to not-for-profit organizations. CICA Part IV ASPP applies to pension plans. For governments and government organizations, see under Public Sector Accounting (PSA) Handbook for details of what applies. Note 2: Part II and V Definitions may not be identical — check the CICA Handbook — Accounting. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Abnormal earnings Also referred to as unexpected earnings. Differences between the expected value of earnings and the actual realized. Absorption costing Absorption costing is a method of assigning costs to inventory. It includes fixed overhead costs in addition to variable overhead costs added to direct materials and direct labour to calculate unit cost. Accelerated amortization Accelerated amortization is a method of allocating the cost of an asset in which the annual amortization amounts are larger in an asset’s early years and decrease over time. An example of accelerated amortization would be the double-declining balance method. Access controls Procedures designed to restrict access to online terminal devices, programs, and data. Access controls consist of ”user authentication” and ”user authorization.” Account Place within an accounting system where the increases and decreases in a specific asset, liability, owner’s equity, revenue, or expense are......

Words: 115733 - Pages: 463

Free Essay

Financial Glossary

...Prepare a glossary for the terms below: Financial market - A financial market is a market in which people trade financial securities, commodities, and other fungible items of value at low transaction costs and at prices that reflect supply and demand. Securities include stocks and bonds, and commodities include precious metals or agricultural goods. Financial instruments - Financial instruments are tradable assets of any kind. They can be cash, evidence of an ownership interest in an entity, or a contractual right to receive or deliver cash or another financial instrument. Financial intermediaries - A financial intermediary is a financial institution such as bank, building society, insurance company, investment bank or pension fund. A financial intermediary offers a service to help an individual/ firm to save or borrow money. Shares/ stocks – Shares/stocks is a share in the ownership of a company. It represents a claim on the company's assets and earnings. As you acquire more shares, your ownership stake in the company becomes greater. Bonds - A bond is a debt investment in which an investor loans money to an entity which borrows the funds for a defined period of time at a variable or fixed interest rate. Bonds are used by companies, municipalities, states and sovereign governments to raise money and finance a variety of projects and activities. Owners of bonds are debt holders, or creditors, of the issuer. Treasury bills - A short-dated government security, yielding no...

Words: 708 - Pages: 3

Premium Essay

Glossary of Financial Terms

...GLOSSARY OF FINANCIAL TERMS Absorption costing A costing approach in which all manufacturing costs are charged to the product. | Absorption-cost pricing An approach to pricing that defines the cost base as the manufacturing cost; it excludes both variable and fixed selling and administrative costs. | Accelerated-depreciation method Depreciation method that produces higher depreciation expense in the early years than in the later years. | | Account A record of increases and decreases in specific asset, liability, or stockholders' equity items. | Accounting The information system that identifies, records, and communicates the economic events of an organization to interested users. | Accounts receivable turnover ratio A measure of the liquidity of accounts receivable; computed by dividing net credit sales by average net accounts receivable. | Accounts receivable turnover A measure of the liquidity of accounts receivable; computed by dividing net credit sales by average net accounts receivable. | Accounts receivable Amounts owed by customers on account. | Accrual-basis accounting Accounting basis in which companies record transactions that change a company's financial statements in the periods in which the events occur. | Accruals Adjusting entries for either accrued revenues or accrued expenses. | Accrued expenses Expenses incurred but not yet paid in cash or recorded. | Accrued revenues Revenues for services performed but not yet received in cash or......

Words: 9078 - Pages: 37

Kemono Friends | Shokugeki no Soma 161 | Powerless HDTV 720p AC3 5.1