Accounting Glossary
My Accounting Glossary
Hello, my name is Mathumitha Sinnathurai and I have been studying Accounting and Management Technology for 2 semesters. So, my field of study is accounting and I made this glossary for the students in the same field of study as me. The words in this glossary are words that are often used in accounting which could be really helpful for students to learn about these terms since it's the basic. As for my source for the definition, I used Google dictionary and the Merriam Webster dictionary.
- account
- noun
- A record or statement of financial expenditure and receipts relating to a particular period or purpose.
- Example: The project draws upon a wide variety of sources - houses, floor plans, photographs, wills, account books, diaries, letters, notebooks, fiction and non-fiction and reconstructs each author's life to provide an architectural biography of the individual.
- fr: compte
- accounting
- noun
- The action or process of keeping financial accounts.
- Example: Selection of the form of business organization for a project is an important step in project development and depends on a variety of business, legal, accounting, tax and regulatory factors.
- fr: comptabilité
- budget
- noun
- The amount of money that is available for, required for, or assigned to a particular purpose.
- Example: In most respects, Britain spent a smaller proportion of the annual budget on welfare than did continental European countries with a system financed from contributory sources or with a greater mix of public and private provision.
- fr: budget
- cash flow
- noun
- A measure of an organization's liquidity that usually consists of net income after taxes plus noncash charges against income.
- Example: It meant that a cash flow - an almost unknown concept in the underground was immediately instituted, and through street sales they gained an instant feedback, instant market research on the product.
- fr: marge brute d'autofinancement
- contract
- noun
- A written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law.
- Example: However, one would expect that, due to the cost pressures of their contract, a contractor would be more likely to implement cost-saving innovations.
- fr: contrat
- debt
- noun
- A state of being under obligation to pay or repay someone or something in return for something received : a state of owing.
- Example: The cost of debt is simply an average of the interest payments paid to debtholders, however the cost of equity is more difficult to calculate.
- fr: dette
- depreciation
- noun
- To deduct from taxable income a portion of the original cost of (a business asset) over several years as the value of the asset decreases.
- Example: The second chapter explores the optimal length of copyright protection when the value of an intellectual work changes over time due to depreciation and value- enhancing ex- post investment.
- fr: dépréciation
- interest
- noun
- Money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
- Example: In PCD Maltron's case this is bad news; as the company is not very well established the security they can offer is quite low and so the interest charged on the loan would probably not justify taking the loan out.
- fr: intérêt
- investment
- noun
- The action or process of investing money for profit or material result.
- Example: Finally, the agency can satisfy public demand by becoming more accountable for their investment of funds and strategic decision-making due to increased stakeholder participation and market analysis in the programming process.
- fr: investissement
- loan
- noun
- A thing that is borrowed, especially a sum of money that is expected to be paid back with interest.
- Example: Banks feel reluctant to give you a loan which is a lot more than your current income.
- fr: prêt
- loss
- noun
- An amount of money lost by a business or organization.
- Example: This approach is based on a proper choice of a miniature topology, which at the same time offers a minimal loss.
- fr: perte
- net income
- noun
- The balance of gross income remaining after all allowable deductions and exemptions are taken.
- Example: It is often justified on the grounds that it separates items of transitory nature from net income and so is reported as part of equity rather than in an income statement.
- fr: revenu net
- real estate
- noun
- Property consisting of land or buildings.
- Example: International construction and real estate markets are very close to consolidate and become one.
- fr: immobilier
- statement
- noun
- A summary of activity in a financial account over a particular period of time.
- Example: The synthetic lease is a hybrid financing structure that allows a company to have many of the benefits of asset ownership, including capital lease treatment for tax purposes, while treating lease payments as operating expenses on the firm's income statement.
- fr: déclaration
- stock
- noun
- The capital raised by a business or corporation through the issue and subscription of shares.
- Example: Another related case is that of stock options issued to employees and other parties.
- fr: stock
- tangible asset
- noun
- An item of value owned.
- Example: When Wilkinson paid for Hoopoe they also paid for its 'Goodwill' although not a tangible asset they have paid for the right to use the established brand that consumers have become loyal to.
- fr: immobilisation corporelle
- tax
- noun
- A compulsory contribution to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions.
- Example: One of the benefits of a tax paying society is that it is given protection in times of dispute.
- fr: impôt
- transaction
- noun
- An instance of buying or selling something; a business deal.
- Example: After having developed a basic framework for structuring an international project finance transaction, this thesis ends by exposing projects financed on a project-financing basis.
- fr: transaction
- turnover
- noun
- The amount received in sales for a stated period.
- Example: They often worked for far lower wages than their Japanese equivalents, and turnover was very high.
- fr: chiffre d'affaires
- wage
- noun
- A fixed regular payment, typically paid on a daily or weekly basis, made by an employer to an employee, especially to a manual or unskilled worker.
- Example: We suggest the company sits down with the Trade Unions and employees and works out a schedule for overtime whereby those who wish to do the overtime have the opportunity to do so as well as a formal review of the wage structure.
- fr: salaire
