Telecommunications glossary3 adpcm adaptive differential pulse code modulation. Very useful for engineers preparing for bank exams. Accounting meaning in the cambridge english dictionary. We have written this a to z guide to help you to understand some of the terms you will come across when you buy a house, go into business, take out insurance, invest your money and do all. It is also an ideal source of reference for anyone seeking a clear guide to the oftenconfusing world of accountancy terms. Basic accounting principles business environment 64 the results disclosed in the financial statements will be uniform and comparable. Accounting period any period of time utilised to measure accounting performance e. Invoice terms such as a net 30 days or b 210, n30 signify that a sale was made on account and was not a cash sale. Some have held, for example, that the intentional torturing or killing of an innocent person is morally impermissible no matter what bad con. Accounts payable sundry creditors short term or current financial obligations that are created through the purchase of merchandise, or obtaining of service. The theory depends on several strong assumptions including an absence of international capital mobility, and a supplyconstrained economy. Also, one of the remedies available for enforcing a right or redressing a wrong asserted in a lawsuit. Phone 2015680249 glossary of utility finance and accounting terms used in our seminars letters in parenthesis, preceding the definition, identify the sources used in compiling the glossary.
A useful matrix may help in understanding double entry. Short term or current financial obligations that are created through the. The principal operating fund for a county govern ment. Dictionary pdf free download for students learning english. Most liquid items such as cash, government securities, including. Accounting seeks to assure that every individual or company pays or is paid the correct amount.
He is the sole author of all the materials on accountingcoach. From general transaction recording conventions to the full accounting cycle and. Every transaction will give rise to two accounting entries, a debit and a credit. Today, the oxford english dictionary is the accepted authority on the evolution of the. Today i am providing basic financial and banking terms. Harold averkamp cpa, mba has worked as a university accounting instructor, accountant, and consultant for more than 25 years. May 10, 2004 the first englishspanish translation dictionary of accounting terms to cover the differences in accounting terminology for spanishspeaking countries this bilingual accounting dictionary offers not only englishspanish and spanishenglish translations of accounting terms but also a spanishspanish section correlating the different. Glossary of business terms adjective adj headwords for adjectives followed by information in square brackets only before a noun and not before a noun show any restrictions on where they can be used. This glossary of common financial terms was created and is used by the bureau for translating consumer education materials from english to spanish. Accounting dictionary is a continually expanding collection of over 4000 accountancy terms, abbreviations and definitions. An accountant is a person who does the basic job of maintaining accounts as he is the man who is engaged in book keeping. Accounting book pdf principles, bookkeeping, statements. The bureau of consumer financial protection is a u.
There are several different types of accounting, each of which reports revenue and earnings differently from other methods. One of the main parts of accounting is recordkeeping or bookkeeping. The dictionary was published in instalments between 1884 and 1928, but it soon had to be expanded as new words and meanings continued to flood into the language, and so over the period 193386 five supplementary volumes were published. But the transactions which cannot be expressed in monetary terms are not recorded in the books of accounts. Accrual accounting recognizes revenue and matches it. You will encounter these basic terms again and again when researching accounting software or studying accounting concepts, and i hope that this quick guide will clear up muddy waters and keep the peanuts voices at bay. Basic state pension this is the retirement pension the government pays to people who have paid enough national insurance contributions. Consolidated financial statements financial statements of a group in which assets, liabilities, equity, income, expenses and cash flows of the parent. Read about bookkeeping, accounting principles, financial statements, with 66 pages of lessons and tutorials. The alphabetical layout will help you easily find the word you need.
A current asset resulting from selling goods or services on credit on account. Well also discuss working with your cpa, no matter what platform they are using. The basis of accounting under which revenues are recorded when earned and expenditures are recorded as soon as they result in liabilities for benefits received. The bureau is publically sharing it in an effort to further the accessibility of financial information to limited english proficient persons. Recordkeeping is the process of recording transactions and events in an accounting system. Auditing dictionary of terms accounting institute for success. The principle of taxation that holds that the tax burden should be distributed according to a persons wealth. The equation that is the basis of the balance sheet. A record that holds the results of financial transactions. Event financial statement debit or credit increase in assets balance sheet debit.
This glossary isnt a legal document and none of the terms found in it should be understood to change the meaning of any provisions of law, regulations, or any other authoritative precedent. With its authoritative and straightforward definitions and its wideranging coverage, this dictionary is essential for students and professionals in accounting and finance. To learn more about accounts receivable, see our accounts receivable and bad debts expense outline. Process the organized method of converting inputs people, equipment, methods, materials, and environment, to outputs products or services.
Shareholders are the people or entities that legally own the stock certificates for a corporation. A method of compressing audio data by recording the differences between successive digital samples rather than full value of the samples. Dictionary of medical terms 0 76 7603 5 dictionary of military terms 0 7475 7477 4 dictionary of nursing 0 7475 6634 8 dictionary of politics and government 0 7475 7220 8 dictionary of science and technology 0 7475 6620 8 easier english titles easier english basic dictionary 0 7475 6644 5 easier english basic synonyms 0 7475 6979 7 easier. No waiver by dictionary of any breach or default under these terms will be deemed to be a waiver of any preceding or subsequent breach or default. The general fund is used to account for all financial re sources except those required by law, county policy, and generally accepted accounting principles that are to be accounted for in an other fund. The a to z guide to legal phrases plain english campaign.
Understanding the terminology will help you understand the concepts and their. Glossary of cost accounting terms established in sffas 4, managerial cost accounting concepts and standards for the federal government activity the actual work task or step performed in producing and delivering products and services. A form of corporation, allowed by the irs for most companies with 35 or fewer shareholders, which enables the company to enjoy the benefits of incorporation but be taxed as if. A form that companies file within ninety days of the year. Competition occurs between different companies trying to produce and sell the same good or service. Although a reader may understand terms as translated to have particular meanings, the legal meanings of the terms are controlled by the law, reg. Financial statements documents presenting accounting information which is expected to have a. Cfis principles of accounting book is free, available for anyone to download as a pdf. The general fund is used to account for all financial re sources except those required by law, county policy, and generally accepted accounting principles that are to be accounted for in an. A taxpayer, whether business or individual, must file a request on a form. A good way to learn new vocabulary is learn about 20 words a week from a dictionary and understand what they mean.
The terms defined on this page have all appeared in past cpa exam questions, so they are worth knowing if you are studying for the auditing exam. For example, sincerity, loyality, honesty of employees are not. Accounting attempts to recognize noncash events and circumstances as they occur. Accrual is concerned with expected future cash receipts and payments. Shareholders, often called stockholders, are the owners of a corporation. Coming back to my experience, i also learned the meanings of a few basic, yet important accounting terms and principles. Auditing glossary of terms smartpros professional resources for accounting, finance, hr, insurance and law. Accounting terminology paul martin chartered accountant ltd. Voluntary bankruptcythe debtor files a petition claiming inability to meet financial obligations and willingness to be declared bankrupt. At the end of this booklet is a glossary of all the relevant accounting terms that will help you understand the science of accounting. This az pocket guide to understanding financial terms is just one of the achievements of ebss partnership with nala.
Dictionary of accounting and budget terms solano community. References are by standard and paragraph number or appendix reference. May 24, 2015 download free pdf english books from dictionary pdf free download for students learning english at easypacelearning. An accountant is a person who does the basic job of maintaining accounts as. Accounting legal definition of accounting legal dictionary. Accounts are the way in which differing effects on the basic business. This dictionary of terms and legal definitions related to hazardous, medical and solid waste is a reference document developed by the new york state division of criminal justice services, office of justice systems analysis with partial funding by the departmnt of justice, bureau of justice statistics. We can use this language to communicate financial transactions and their results. Two major accounting methods are accrual accounting and cash accounting. It builds on the environmental accounting glossary prepared in 20 by wassim youssef, volunteer of the said division.
Foreword adult basic education, the organisations are working together to help tackle financial literacy and to address the issue of access to financial products and services for those with literacy and numeracy difficulties. Glossary of philosophical terms z absolutism the view that there are some types of action that are strictly prohibited by morality, no matter what the specific facts are in a particular case. Public administration glossary of terms the following list of selected terms and concepts are commonly used in public administration and finance1. Because of this basic fundamental rule, it means that all the debits and all the credits in the ledger will be equal.
In any one given accounting period, you should try to match the revenue you are reporting with the expenses it took to generate that revenue in the same time period, or over the periods in which you will be receiving benefits from that expenditure. Double entry system of accounting, final accounts, cost accounting, marginal costing, management accounting, financial analysis, tools of financial analysis, funds flow and cash flow statements. Oxford and the dictionary oxford english dictionary. Dictionary in pdf for free for you to download for students learning english a dictionary in pdf for you to use when you dont understand. This dictionary provides a basic vocabulary of terms used in accounting, from personal. A service that oversees, measures, and evaluates financial information for decision making purposes. Gambia 2004 1 accounting principles and definitions. For instance, i had no idea what accrual based accounting was but i do now.
Auditing definition, an official examination and verification of accounts and records, especially of financial accounts. English books for download pdf dictionary pdf free download. An examination of documents, records and accounts for the purpose of determining 1 that all present fairly the financial position of the district. My accounting course accounting and business dictionary explains 1,000s of accounting terms in plain english. A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Accounting terminology guide over 1,000 accounting and. Accounting is a comprehensive system to collect, analyze, and communicate financial information. Accounting period time period for which financial statements are prepared. The nysscpa has prepared a glossary of accounting terms for accountants and journalists who report on and interpret financial information. The cfpbs glossary of english spanish financial terms.
What follows is a collection of some of the most common accounting terms, written out with short definitions. Bookkeeping terms and basic accounting definitions. A term referring to the refund of previously paid prop erty taxes due to the overvaluation of property. Apr 18, 2017 in a series of providing free study material for sbi po exam. Glossary of reinsurance terminology term definition accident year experience. Free accounting books download ebooks online textbooks. Discover the meaning of common bookkeeping terms, words and phrases from this quick a z style guide.
An aggregation of actions performed within an organization that is useful for purposes of activitybased costing. Accounting for managers by vardhaman mahaveer open university. There is no need to memorize each term and its definition verbatim, but you should at least know what each terms means along with the concepts surrounding them. The first step is to understand the basics and how they all fit together. Same goes for the revenue recognition and matching principles of accounting. Since the principles of accounting rely on accurate and thorough records, record keeping is the foundation accounting. Account a fiscal and accounting entity with a selfbalancing set of general ledger codes in which cash and other financial resources, together with all related liabilities and residual equities or. The course available here at includes over 1,300 highquality audio files and about 100 selfstudy resources covering all the essential terminology. Online accounting english course with audio are you looking for the best way to study english for accounting and improve your pronunciation of accounting terms and expressions. Noun n the codes c and u show whether a noun, or a particular sense of a noun, is countable an agenda, two agendas or uncountable. A system of recording or settling accounts in financial transactions.
Sometimes used with a stronger meaning of understating assets. Basic limits the minimum amounts of insurance for which it is the practice to quote. Handout provided courtesy of 1 glossary of basic accounting terms accounts receivable monies that are owed to the business by others. Glossary of defined terms this glossary contains the defined terms from australian accounting standards. The dictionary is designed to help you understand the terms and abbreviations used every day by those working in the accountancy profession. Principles of accounting free ebook in pdf, kindle and epub.