Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    From $11.99/month after trial. Cancel anytime.

    Accounting Terminology
    Accounting Terminology
    Accounting Terminology
    Ebook51 pages33 minutes

    Accounting Terminology

    By Michael P Griffin

    ()

    Read preview

    About this ebook

    A bank for the “language of money” you need to know. Our author, expert and professor targeted the most important vocabulary for this critical subject in 6 laminated pages covering over 300 terms. Easy to access at a moment’s notice for reviewing core concepts before exams, as a professional resource, or for general knowledge of an area that affects business as well as personal lives every day.

    Suggested uses:
    • Students/Teachers – reference for any business and accounting student
    • Personal – great crib sheet for personal investments, money managing, financial markets and government
    • Professionals – whether an entrepreneur or a CPA, keep a reference to the language of money by your side
    • Businesses – purchase as a give-away that will help you educate your clients, making for more productive discussions and relationships
    LanguageEnglish
    PublisherBarCharts, Inc.
    Release dateMay 1, 2018
    ISBN9781423240532
    Accounting Terminology

    Read more from Michael P Griffin

    Related to Accounting Terminology

    Related ebooks

    Accounting & Bookkeeping For You

    View More
    View More

    Related podcast episodes

    Related articles

    • UNLIMITED

      I Wish I Knew What Ebitda Was, But I’m Too Embarrassed To Ask

      Oct 15, 2021

      Earnings before interest, tax, depreciation and amortisation (Ebitda) is a measure of profit that can make it easier to compare the valuation of two companies, or to give a clearer view of a firm’s underlying profitability. It looks at earnings befor

      1 min read

    • UNLIMITED

      I Wish I Knew What Ebitda Was, But I’m Too Embarrassed To Ask

      Feb 24, 2023

      Earnings before interest, tax, depreciation and amortisation (Ebitda) is a measure of profit that can make it easier to compare the valuation of two companies, or to give a clearer view of a firm’s underlying profitability. It looks at earnings befor

      1 min read

    • UNLIMITED

      I Wish I Knew What Ebitda Was, But I’m Too Embarrassed To Ask

      Aug 25, 2023

      Earnings before interest, tax, depreciation and amortisation (Ebitda) is a measure of profit that can make it easier to compare the valuation of two companies, or to give a clearer view of a firm’s underlying profitability. It looks at earnings befor

      1 min read

    • UNLIMITED

      I Wish I Knew What Ebitda Was, But I’m Too Embarrassed To Ask

      Feb 24, 2023

      Earnings before interest, tax, depreciation and amortisation (Ebitda) is a measure of profit that can make it easier to compare the valuation of two companies, or to give a clearer view of a firm’s underlying profitability. It looks at earnings befor

      1 min read

    • UNLIMITED

      Get Off To A Smart Start

      Feb 2, 2022

      Get Off To A Smart Start
      8 min read

    • UNLIMITED

      Flow On From Tax Changes

      May 27, 2021

      Firstly, a recap on the Government’s announcement. For acquisitions of residential property after March 27, 2021 interest will only be deductible until October 1, 2021. Interest on debt funding residential property acquired prior to March 27, 2021 wi

      2 min read

    • UNLIMITED

      Taxable or Tax-Deferred Account: How to Pick

      Aug 2, 2022

      Which investments you hold matters (and in what proportions), but so, too, does where you hold them, whether it's in a tax-advantaged account or a taxable one. A recent lawsuit against Vanguard Group reveals how important such a decision can be.  Ear

      4 min read

    • UNLIMITED

      I Wish I Knew What Operating Cash Flow Was, But I’m Too Embarrassed To Ask

      Jan 12, 2024

      A cash-flow statement is divided into three sections. Cash flow from operating activities (often referred to as operating cash flow or cash from operations) is the amount of cash a firm generates from the sales it makes in the course of its regular b

      1 min read

    • UNLIMITED

      Checklist Of What You Need To Get Funding

      May 6, 2022

      Looking for funding? In addition to thinking carefully about the amount of equity or shares you are willing to give away to potential investors or business partners, you will need certain documents. Please note that what follows is a general list, an

      2 min read

    • UNLIMITED

      I Wish I Knew What Operating Cash Flow Was, But I’m Too Embarrassed To Ask

      Sep 23, 2022

      A cash-flow statement is divided into three sections. Cash flow from operating activities (often referred to as operating cash flow or cash from operations) is the amount of cash that the firm generates from the sales that it makes in the course of i

      1 min read

    • UNLIMITED

      Preparing Your Practice For Eofy

      Jun 27, 2021

      Preparing Your Practice For Eofy
      5 min read

    • UNLIMITED

      MONEY & BANKING

      Aug 8, 2019

      MONEY & BANKING
      3 min read

    • UNLIMITED

      Best Dividend Stocks

      Sep 15, 2022

      Best Dividend Stocks
      8 min read

    • UNLIMITED

      A Business Wealth Creation Roadmap

      Aug 1, 2022

      A Business Wealth Creation Roadmap
      5 min read

    • UNLIMITED

      I Wish I Knew What EV/Ebitda Was, But I’m Too Embarrassed To Ask

      Feb 16, 2024

      The simplest way to measure the value of a company is to use its stockmarket capitalisation – the value of all its outstanding shares. However, this may not always provide a useful reflection of all the claims that different groups of investors have

      1 min read

    • UNLIMITED

      I Wish I Knew What EV/Ebitda Was, But I’m Too Embarrassed To Ask

      Jan 21, 2022

      The simplest way to measure the value of a company is to use its stockmarket capitalisation – the value of all its outstanding shares. However, this may not always provide a useful reflection of all the claims that different groups of investors have

      1 min read

    • UNLIMITED

      I Wish I Knew What Enterprise Value Was, But I’m Too Embarrassed To Ask

      Apr 9, 2021

      The simplest way to measure the value of a company is to use its stockmarket capitalisation – the value of all its outstanding shares. However, this may not always provide a useful reflection of all the claims that different groups of investors have

      1 min read

    • UNLIMITED

      4 Potential Problems with Equity Compensation, and How to Solve Them

      May 1, 2021

      Non-cash compensation might not sound like a very good deal for you as an employee — but depending on the type, it can actually provide quite a boost to your net worth over time. Equity compensation is a type of “non-cash” comp that your company may

      4 min read

    • UNLIMITED

      Definitions And Explanations

      Jun 5, 2023

      METHODOLOGY Companies are ranked by total revenues for their respective fiscal years. Included in the survey are companies that are incorporated in the U.S., operate in the U.S., and file financial statements with a government agency. This includes p

      3 min read

    • UNLIMITED

      Taxing Matters

      Feb 27, 2020

      Taxing Matters
      3 min read

    • UNLIMITED

      The Importance Of Income Recognition

      Sep 27, 2024

      For intrepid property investors thinking about making the leap into a property development project there is a lot to learn and understand about how the tax system functions that differs from what you will know about life on the investment side of the

      3 min read

    • UNLIMITED

      Keep Control Of Your Cash

      Dec 15, 2023

      Keep Control Of Your Cash
      2 min read

    • UNLIMITED

      Debt Markets For All

      May 13, 2019

      Debt Markets For All
      2 min read

    • UNLIMITED

      How Companies Skirt Law To Contain US Tax Dollars

      Dec 13, 2023

      Legislation aimed at preventing large companies from avoiding United States taxes by shuttling money to foreign subsidiaries hasn’t worked as well as anticipated. A new study reveals how companies are responding to the provisions—and the potential co

      3 min read

    Related categories

    Reviews for Accounting Terminology

    0 ratings

    0 ratings0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      Accounting Terminology - Michael P Griffin

      A

      accelerated depreciation: Any depreciation method that results in more depreciation expenses in the first years after purchase than the straight-line method (e.g., doubledeclining balance method, sum-of-the-years’ digits method). In the United States, the two depreciation methods that are currently allowed for tax purposes are both accelerated depreciation methods (i.e., the accelerated cost recovery system [ACRS] and the modified accelerated cost recovery system [MACRS]).

      account: The basic record used in an accounting system to keep track of the balances of assets, liabilities, equities, revenues, and expenses of an organization.

      accounting cycle: The steps of processing transactions, including analyzing transactions, journalizing, posting, preparing trial balances, adjusting, and preparing financial statements.

      accounting equation: The foundation of the accounting system: assets = liabilities + owners’ equity; also called the balance sheet equation.

      accounting period: The period covered by the income statement.

      accounting principles: The basic standards, rules, and guidelines for financial reporting; also the basics that students study in an introduction to accounting course.

      accounting: A system that collects and processes (i.e., analyzes, measures, and records) financial information about an organization and reports that information to decision makers.

      accounts payable: Obligations that arise from the purchase of stock-in-trade items, supplies, or services on an open account.

      accounts receivable: Money owed to the company from customers as a result of credit sales.

      accounts receivable, net: Accounts receivable less the balance in the allowance for doubtful accounts.

      accrual accounting: The basis for recording transactions under generally accepted accounting principles (GAAP). That is, an expense is recorded when incurred, regardless of when the cash payment for the expense is made. Revenues are recorded when a sale is made, not necessarily when cash flows occur.

      accrued expense: An expense that has occurred but the transaction has not been entered into the accounting records.

      EX: An adjusting entry is made to debit the appropriate expense account (e.g., wages expense) and to credit a liability account (e.g., wages payable).

      accrued expenses payable: A liability account that reflects the estimated amount owed for expenses that have occurred but have not yet been paid or recorded.

      EX: Wages payable and taxes payable.

      accrued liabilities: Expenses that increase in value as time goes by.

      EX: Expenses that accrue (or accumulate) on a daily basis, such as wages, interest on note obligations, property taxes, and rent.

      accrued revenue: Revenue that has been earned but not yet recorded.

      accumulated depletion: The amount of depletion that has accumulated since the related natural resource was acquired.

      accumulated depreciation: The amount of depreciation that has accumulated since the associated fixed asset was acquired.

      accumulated other comprehensive income: The corporation’s cumulative income that has not been reported as part of net income on the corporation’s income statement.

      EX: The income or loss involving foreign currency transactions, hedges, pension liabilities, and the unrealized gains and losses

      Enjoying the preview?
      Page 1 of 1