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 2 of 2: from “item journal” to “year to date”.
- item journal noun A journal to adjust inventory in connection with purchases, sales, and positive and negative adjustments.
- journal noun A chronological record of payments or receipts.
- K-factor noun The ratio of the value of deferrable expenses to the value of estimated gross profits.
- lapping noun A form of fraud in which payments in the accounts are repeatedly delayed between periods, or diverted between customers, to conceal a theft.
- last in first out adj Of or pertaining to any situation where the last to arrive is the first to go, or a data structure where the most recently added item is…
- ledger noun A collection of accounting entries consisting of credits and debits.
- liabilities noun The right side of a balance sheet.
- liability noun Any kind of debt recorded on the right-hand side of a balance sheet.
- limiting factor noun A constraint that limits the business from achieving a higher level of profitability.
- line item noun An item of revenue or expenditure in a budget or other financial statement or report.
- margin of safety noun The strength of a business measured by the amount of income earned above the break-even point.
- mark to market noun Assigning a value to an asset equal to the current market price of the asset or one calculated based on related standardised assets for…
- mark to model noun A valuation or valuation method that assigns a value to an asset based on a model of its value.
- net operating income noun Income after deducting operating expenses but before deducting for income taxes, interest, and depreciation and amortization.
- nominal ledger noun A general ledger.
- nonarticulation noun Lack of articulation (interrelation and congruence of the flow of data between financial statements).
- nowhere income noun Income that is generated in the United States by a corporation but that is not taxed by the destination US state (the state in which a…
- off book adj Off the books, not officially recorded.
- on the books prep_phrase Officially recorded in the financial records of a company or organization.
- operating income noun Income from doing business (as opposed to unearned income such as interest) with operating expenses subtracted, but before taxes have been…
- overhead noun The expense of a business not directly assigned to goods or services provided.
- overpost noun An entry that has been posted more than once to a journal.
- payline noun A line in a paysheet, corresponding to a single paycheck.
- payroll noun The calculation of salaries and wages and the deduction of taxes etc.; the department in a company responsible for this.
- Pereira accounting noun In California community property law, a mechanism to deal with community funds and/or labor used to enhance the value of separate property.…
- periodic inventory noun A system of assessing a business' inventory in which updates are made on a periodic basis, so that a completely accurate account is only…
- perpetual inventory noun A system of maintaining a business' inventory in which changes to the inventory are recorded in real time, so that the inventory is always…
- post verb To carry (an account) from the journal to the ledger.
- posting noun the process of transferring financial transaction data from a journal (chronological record) to the general ledger (account-wise record.
- posting date noun Synonym of entry date.
- prepayment noun A cost paid in a fiscal year prior to the fiscal year in which the cost is recognized
- profit noun Total income or cash flow minus expenditures. The money or other benefit a non-governmental organization or individual receives in exchange…
- profit center noun A unit or department of a company which is expected to make an identifiable contribution to the organization's profits.
- proration noun In the insurance industry, the act of taking money that is currently due from the insurance company and moving it to the patient, knowing…
- provision noun A liability or contra account to recognise likely future adverse events associated with current transactions.
- purchase journal noun A specialized accounting journal and also a prime entry book used in an accounting system to keep track of the orders of items placed using…
- purchase price noun The price at which something is actually purchased, especially from the point of view of the purchaser.
- reconcile verb To make the net difference in credits and debits of a financial account agree with the balance.
- reconciliation noun The process of comparing and resolving apparent differences between sets of accounting records, or between accounting records and bank…
- recoverable noun Amounts of reinsurance coverage that are due from a reinsurer.
- red ink noun Financial loss.
- retained earnings noun The amount of net income left over for a business after it has paid out dividends to its shareholders.
- revenue noun The total sales; turnover.
- revenue recognition noun The point at which revenue is recognized or recorded, which, depending on the system, may be when the money is received (cash basis), or…
- run rate noun Alternative form of runrate.
- sale journal noun A specialized accounting journal and also a prime entry book used in an accounting system to record the sales of items by customers.
- sales budget noun A financial plan that estimates a company's total revenue from expected sales over a specific future period.
- shadow account noun A secondary representation of a financial account, especially one used to perform an independent verification.
- shadow accounting noun The practice of maintaining financial records and calculations in a separate system from official sources.
- short payment noun A payment that is less than the full amount owed; an underpayment resulting from error, adjustment, or deduction.
- short-pay verb To pay (someone) less than the amount that is owed; to underpay through error, omission, or miscalculation.
- single-entry adj Describing a method of bookkeeping that relies on a one-sided accounting entry to maintain financial information, with each entry appearing…
- slush fund noun Money that has not been hypothecated or dedicated to a particular purpose, or which is used for a different purpose than originally…
- source document noun A document that provides official notification of a credit or debit to an account, such as a bank statement, bill of sale, invoice…
- spot date noun The normal settlement day when the transaction is carried out as soon as practical, i.e. "on the spot".
- stock account noun An account on a merchant's ledger, one side of which shows the original capital, or stock, and the additions thereto by accumulation or…
- subledger noun A subsidiary ledger dealing with a specific subsection of the general ledger, such as property and equipment costs.
- suspense account noun An account in which receipts or disbursements are temporarily entered until their proper position in the books is determined.
- tally trade noun The selling of goods on account, regular payments being recorded in a book kept by the customer and a duplicate (the "tally") kept in the…
- tax lot noun A grouping of security holdings in an account used for enabling the calculation and treatment of the securities for tax compliance and…
- throw off noun Income minus expenses and depreciation (before tax).
- throwback noun A practice to avoid untaxed nowhere income by instead taxing such income in the originating state for a given transaction.
- throwout noun A practice to avoid untaxed nowhere income by instead assuming the untaxed transaction is taxed in the originating state in a notional…
- tick and tie verb To make sure that every item in a ledger or in an inventory is accounted for and properly connected to other items to which it relates.
- tie out verb To validate or check for accuracy; verify the balance of numbers or figures; audit
- top line noun Total sales or revenue.
- total loss noun An insured item of which the entire value is written off.
- transfer pricing noun The rules and methods for pricing transactions within and between enterprises under common ownership or control.
- trial balance noun A statement of the balances of all nominal accounts in a double-entry ledger, made to test their equality. The total value of the debits…
- unbalanced adj not adjusted such that debit and credit correspond
- underfoot verb To assign a column summary that is less than the sum of all the entries in that column.
- underhead noun direct costs.
- underrun noun A condition in which fewer products are delivered or produced than had been ordered.
- unit of account noun A standard numerical monetary unit of measurement of the market value of goods, services, and other transactions.
- unreconcile verb To undo the reconciliation of.
- upside-down income statement noun A planned income statement laid out in the reverse of the usual order, i.e. starting with the bottom line and continuing with the figures…
- value date noun Date and the action itself on which payments are credited or debited to the customer's imagined but legally real account, as opposed to the…
- Van Camp accounting noun In California community property law, a mechanism to deal with community funds and/or labor used to enhance the value of separate property.…
- walkthrough noun A financial audit that traces a sample transaction through the system to ensure that it is processed and reported correctly.
- work in progress noun A portion of inventory that represents goods which are no longer salable as raw materials, but not yet salable as finished goods, work in…
- working capital noun The amount of capital a business or other entity has available for running its daily operations, calculated as current assets minus current…
- write down verb To make a downward adjustment in the value of an asset.
- write off noun The cancellation of an item; the amount cancelled or lost.
- write up verb To make an upward adjustment in the value of an asset.
- writedown noun An adjustment; a precise amount adjusted by an act of writing down or entering an asset and its value; a reduction of an asset, written…
- year to date adj Relating to the period from the beginning of a fiscal year to the end of a reporting period.