This page gathers the 186 dictionary entries belonging to the domain “Accounting”, as labelled by Wiktionary. Each word leads to its full entry: definitions, etymology, pronunciation, examples. Page 1 of 2: from “abatement” to “invoice price”.
- abatement noun The deduction of minor revenues incidental to an operation in calculating the cost of the operation.
- above the line adv Classified as an ordinary expense or revenue item, or a current asset.
- account noun A registry of pecuniary transactions; a written or printed statement of business dealings or debts and credits, and also of other things…
- accountancy noun The function of compiling and providing financial information primarily by reports referred to as financial statements, including…
- accountant noun One who is skilled in, keeps, or adjusts, accounts; an officer in a public office, who has charge of the accounts.
- accounting machine noun A business machine, generally a combined calculator and printer, that tabulates, adds, subtracts, and totals.
- accounts receivable noun The total monetary amount owed to a financial entity due to debts arising from sales on credit or on account.
- accrual noun from the creditor's viewpoint, a receivable incurred in one fiscal year, but paid during another.
- accrual basis noun A method of accounting that tracks income and expenditure when they become due, rather than when they actually occur.
- accrue verb To be incurred as a result of the passage of time.
- accumulation noun The continuous growth of capital by retention of interest or savings.
- actuals noun Documented historical results; things that have happened rather than things that are planned.
- adjusting entry noun A journal entry made to ensure that some financial activity is assigned to the posting period in which the activity occurred.
- adjustment account noun An account used in double-entry bookkeeping to represent the other side of adjustments that need to be made.
- aftercost noun A subsequent expense related to but occurring after the source of an expenditure.
- age verb To categorize by age.
- AP noun Initialism of accounts payable.
- ar noun Initialism of accounts receivable.
- arisal noun Accrual.
- articulation noun The interrelation and congruence of the flow of data between financial statements of an entity, especially between the income statement and…
- asset noun Any item recorded on the left-hand side of a balance sheet.
- assets noun The left side of a balance sheet.
- bad debt noun A debt which cannot be recovered from the debtor, either because the debtor lacks the money to pay or because the debtor cannot be found…
- balance noun A list accounting for the debits on one side, and for the credits on the other.
- balance the books verb To add up all the debits and credits.
- base price noun The starting or foundational cost of a product or service before any additional features, upgrades, taxes, or discounts are applied.
- basis noun Amount paid for an investment, including commissions and other expenses.
- billback noun The process of charging the client for a portion of the cost of resources that the client has used in order to recover the capital expense.
- bookkeeper noun A person responsible for keeping records or documents, such as of a business.
- bookkeeping noun The skill or practice of keeping books or systematic records of financial transactions, e.g. income and expenses.
- books noun Accounting records.
- breakage noun A service which is unused by a customer, such as an unredeemed gift card, which therefore represents a pure profit to the seller.
- capital account noun An account in the net worth section of the balance sheet of an entity such as sole proprietorships and partnerships. In this context, the…
- capital adequacy noun Percentage ratio of a financial institution's primary capital to its assets, used as a measure of its financial strength and stability.
- capital asset noun An asset that is recorded on a balance sheet as capital - that is, property that creates more property, such as a factory that creates…
- capital equipment noun Any single asset which has an acquisition cost of $5,000 or more and a useful life of more than one year, whether purchased outright…
- capital investment noun Money that is spent on permanent assets (fixed assets) of a business, as opposed to operating expenses.
- capital surplus noun A balance sheet item under shareholders' equity. Increases by the value above an original par value per share that newly issued shares are…
- capitalize verb To treat as capital, not as an expense.
- carry forward verb To transfer to a new page, column, ledger, or similar entity.
- carryback noun An income tax loss or credit that can be applied to offset previously taxed income or taxes paid, respectively.
- carryforward noun An income tax loss or credit not usable in the current year that can be applied to offset income or taxes paid, respectively, in subsequent…
- cash basis noun A method of accounting that tracks income and expenditure when they actually occur, rather than when they become due.
- cash flow noun The sum of cash revenues and expenditures over a period of time.
- cast accounts verb To perform basic bookkeeping.
- charge off noun A write-off.
- chart of accounts noun A list of financial accounts set up, usually by an accountant, for an organization, and available for use by the bookkeeper for recording…
- collections noun A state being beyond merely past due.
- contingency cost noun An expense incurred precautionarily for a use that may not occur such as an event of damage or a change order.
- contra verb To undo; to reverse.
- contractual noun A charge for a service that is applied through a contract with another provider.
- cookie-jar accounting noun An accounting practice in which a company takes a quantity of large reserves from an economically successful year and incurs them against…
- cost base noun The fixed costs, and sometimes all other costs as well, involved in running a company or producing a product.
- cost object noun Something to which costs are assigned; anything for which a separate measurement of cost is required.
- cr noun Credit.
- credit verb To add to an account.
- credit balance noun The amount by which credits exceed debits.
- credit note noun A commercial document issued by a seller to adjust downwards the amount of an invoice already issued, i.e. to cancel part or all of it.
- cross-cast verb To add up the separately computed totals from each column to ensure that they agree with the overall total.
- current asset noun An asset on the balance sheet which is expected to be sold or otherwise used up in the near future, usually within one year, or one…
- data processing machine noun An accounting machine or tabulating machine.
- days sales outstanding noun The ratio of the number of accounts receivable to the average number of sales per day, used as an estimate of the number of days needed to…
- debit account noun An account in which credits (money owed to the business) exceed debits (expenses).
- debit balance noun The amount by which debits exceed credits.
- debit note noun A commercial document issued by a seller in order to adjust upwards the amount of an invoice already issued.
- deferred adj Whose value is not realized until a future date: e.g. annuities, charges, taxes, and income, either as an asset or liability.
- degear verb To calculate the net value of assets after removing both debt and the projected cost of interest on borrowed capital.
- depletion noun gradual expense or use of natural resources over time.
- depreciation noun The measurement of the decline in value of assets. Not to be confused with impairment, which is the measurement of the unplanned…
- direct cost noun A cost that can be directly attributed to a cost object (such as a particular project, facility, function, service, or product).
- double-entry adj Describing a method of bookkeeping in which each transaction is entered in two accounts, for debits and for credits.
- DR noun Debit.
- eliminate verb To record amounts in a consolidation statement to remove the effects of inter-company transactions.
- elimination noun The act of recording amounts in a consolidation statement to remove the effects of inter-company transactions.
- entry date noun The date when a transaction (that is, an allocation of funds) appears in an account.
- equity noun Ownership interest in a company as determined by subtracting liabilities from assets.
- fair value noun A rational, unbiased estimate of the potential market price of goods, services, or assets, taking into account both objective factors (such…
- falsify verb To show (an item of charge inserted in an account) to be wrong.
- final account noun The year-end numbers needed to file a balance sheet for a corporation.
- financial asset noun A non-physical asset whose value is derived from a contractual claim, such as bank deposits, bonds, and participations in companies' share…
- financials noun Financial statements.
- first in first out noun A method of inventory accounting that values items withdrawn from inventory at the cost of the oldest item assumed to remain in inventory.
- fixed asset noun Asset or property which cannot easily be converted into cash, such as land, buildings and machinery.
- flow variable noun A variable whose value depends on a period of time rather than an instant, example being the gross domestic product.
- focus verb To aggregate figures of accounts.
- folio noun A page in an account book; sometimes, two opposite pages bearing the same serial number.
- footing noun A double-check of the numbers vertically.
- general ledger noun The central accounting record of a company or organization consisting of the accounts that support the value items shown in the major…
- goodwill noun The value of a business entity not directly attributable to its tangible assets and liabilities, deriving from factors such as consumer…
- green accounting noun A type of accounting that attempts to factor environmental costs into the financial results of operations.
- historical cost noun The original nominal monetary value of an economic item; the value at which an item was acquired by a company and was entered in its books.
- holdback noun Income that is set aside for eventualities such as customer returns, seasonal fluctuations, performance bonuses, unexpected costs, etc.
- impairment noun A downward revaluation, a write-down.
- in the black prep_phrase Having positive net income; having greater income than expenses; making a profit.
- income statement noun A calculation which shows the profit or loss of an accounting unit (company, municipality, foundation etc.) during a specific period of…
- incur verb To render (somebody, or oneself) liable or subject to.
- indirect cost noun Any cost that is not directly accountable to a cost object (such as a particular project, facility, function, or product). They include…
- intangible asset noun Any valuable property of a business that is not a physical by nature, including intellectual property, customer lists, and goodwill.…
- inventoriable adj Of costs: being those directly associated with the manufacture of products to be sold.
- invoice price noun The amount a dealer or retailer initially pays the manufacturer or supplier for a product before adding their markup.