Accounting Dictionary / Glossary

Following is a brief listing of commonly used accounting and finance-related terms for the benefit of business professionals and students.

A


    Absorption Costing
    Account balance
    Accountant
    Accounting cycle
    Accounting equation
    Accounting equation
    Accounting information systems
    Accounting Standard
    Accounts payable
    Accounts receivable
    Accretive
    Accrual basis
    Accrue
    Accumulated depreciation
    Activity based costing
    Activity level variance
    Administrative cost
    Allocated cost
    Amortisation
    Annual Report
    Appraisal
    Asset
    Asset pool
    Attention directing
    Audit
    Audit trail
    Avoidable cost

B


    Balance Sheet
    Book
    Book of Account
    Book of Final Entry
    Book Profit
    Book Surplus
    Bookkeeper
    Budget
    Business function

C


    Cash Receipt
    Cash Receipt Journal
    Cash Records
    Cash Statement
    Channels of distribution
    Chief executive officer (CEO)
    Classify
    Company
    Comptroller
    Controller
    Corporate culture
    Credit control
    Credit limit
    Credit rating
    Creditors
    Customer

D


    Data
    Date of Acquisition
    Debit
    Debt-equity Ratio
    Debtors
    Demand
    Depreciation
    Dilutive
    Direct material
    Double-entry bookkeeping

E


    Economies of scale
    Effective
    Efficient
    Ethics
    Expense

F


    FIFO
    Fiscal Year
    Fixed assets
    Flash earnings
    FOB
    Freight collect

G


    General Journal
    General Ledger

H


    Head-end Business
    Historical cost

I


    Idle Time
    Idle-capacity cost
    Inadmitted Asset
    Income Earned
    Income Statement
    Information
    Inventory
    Invoice

J


    Journal
    Journal entries
    Journal proper

K


L


    Labour
    Landed cost
    Ledger
    Leverage
    Liability
    LIFO
    Limited liability

M


    Macro Accounting
    Mail order
    Management
    Manufacturing account
    Market Share
    Marketing
    Matching principle
    Materials
    Middleman
    Minority interest
    Mission statement

N


    Narrative
    Net loss
    Net of tax
    Net profit
    Niche marketing
    Nominal account
    Nominal ledger
    Normalize

O


    Objective
    Organising
    Outlay Cost
    Overhead
    Overtrading
    Owner's Equity

P


    Packing Slip
    Partnership
    Perpetual Budget
    Perpetual Inventory
    Personal Liability
    Personal Property
    Petty Cash (fund)
    Planning
    Predetermined Cost
    Problem definition
    Production Cost
    Profit
    Purchase Order

Q


    Quick assets
    Quick ratio

R


    Receiving Docket
    Retailer
    Return on investment (ROI)
    Revenue

S


    Sales invoice
    Sales order
    Shipping Docket
    Spreadsheet
    Statement
    Stock
    Subsidiary ledger
    Supply
    Synergism
    System

T


    T-Account
    Tangible assets
    Three column cash book
    Time to market
    Total cost of ownership (TCO)
    Trading account
    Transaction
    Trial Balance
    Turnover

U


    UBR
    Ultra Vires
    Uncertainty
    Undeposited funds account (UBR)

V


    Value added tax
    Variable
    Variance (accounting)
    Variance (Statistics)
    Vendor
    Vertical integration

W


    Wages
    Warranty
    What-if analysis
    Wholesaler
    Work-in-progress
    Write-off

X


Y


    Yankee Bond
    Yield

Z


    Zero base budgeting
    Zero sum game
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