Accounting Glossary

Explanation of common words used in accounting

F

Financial Auditing (see Accountancy)
Financial benchmarking
Financial year (see Accounting year)
Fiscal yearend (see Year end)
Fiscal year (see Accounting year)
Fixed exchange rates
Forecast (see Cash budget)
Franchising

G

Gain on Sale of Assets (see Gains)
Gains
General Ledger
Goodwill

I

Impairment Loss (see Losses)
Impairment
Interest Expense (see Expense)
Interest Payable (see Liabilities)
Interest Revenues (see Revenues)
International Financial Reporting Standards
Inventory (see Stock management)
Invoice

J

Journal Entries (see Bookkeeping)

K

Key figure

L

Liabilities
Liability Recognition (see Liabilities)
Limited Companies
Loss from Lawsuit (see Losses)
Loss on Sale of Assets (see Losses)
Losses

N

Net residual value (see Residual value)
Nominal Ledger (see General Ledger)
Notes Payable (see Liabilities)

O

OCR system
Opening balance
Owner's Equity (see Stockholders' Equity)

P

Packing list (see Packing note)
Packing note
Partnership
Payroll
Prepayments
Product list
Profit And Loss Statement
Proforma invoice
Project accounting
Project management (see Project accounting)
Proprietorship (see Sole Trader)
Provision

R

Remittance advice
Rent Expense (see Expense)
Reputation (see Goodwill)
Reserves
Reserve (see Provision)
Residual value
Retained Earnings (see Stockholders' Equity)
Revaluation
Revenues
Rounding

S

Sales Revenue (see Sales turnover)
Sales turnover
Sales
Service Revenues (see Revenues)
Sole Proprietorship (see Sole Trader)
Sole Trader
Statement of Cash Flows
Stock management
Stockholders' Equity
Subscription
Supplier (see Creditor)

T

Turnover (see Revenues)

U

UK GAAP

V

Value added (see Goodwill)
Variance
Vat

W

Wages Expense (see Expense)

Y

Year end

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