Accounting and Management Glossary

This glossary contains the words people can use when they want to talk about management, accounting. They can find specific words in this glossary related to business.

Assets

noun

Property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.

Example: After all, the state owns many buildings and ASSETS, and much emphasis has been put on the institutional shareholdings of insurance companies and pension funds. It is true that personal ownership of some kinds of wealth is declining - but our focus is on ASSETS under the control of individuals so that we can understand the effects of wealth on class position. Indeed, official figures on wealth includes a whole range of marketable ASSETS such as savings, owner - occupied homes (net of mortgage borrowing), plus cars and other consumer durables.

fr: Actif

Balance sheet

noun

A statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.

Example: Hansard, an Act of Parliament, a contract between two people, a company's BALANCE SHEET, the annual statistics for a government department), while the report is usually written after an event has taken place (e.g. a newspaper report, an historical account, a practical work essay).

fr: Bilan

Cash flow

noun

The term cash flow refers to the net amount of cash and cash equivalents being transferred in and out of a company.

Example: The Real Options valuation approach is used as an alternative to Discounted CASH FLOW (DCF) and Decision Tree Analysis (DTA) to value the decision to invest in the development of gold mining resources and to capture the value of risk and managerial flexibility in the decision to invest in mining resource development.

fr: Flux de trésorerie

Payroll

noun

The total amount of wages and salaries paid by a company to its employees.

Example: Those firms that take on their PAYROLL the early leavers will again either gain a subsidy via a reduction of their training levy, or, if they are already claiming the maximum rebate, the payment of a grant from the training board.

fr: Paie

Trial balance

noun

a statement of all debits and credits in a double-entry account book, with any disagreement indicating an error.

Example: there was no bank record or trial balance that could be used to verify that Sloan’s total assets exceeded the $5,000 net capital requirements for broker-dealers at the time.

fr: Balance de vérification

Chart of accounts

noun

A chart of accounts is a list of all your company's “accounts,” together in one place.

Example: This is done by establishing separate funds, each with its own chart of accounts.

fr: Plan Comptable

General ledger

noun

The main accounting records of a company or organization.

Example: Management accountants felt pressure to integrate cost accounts with the general ledger.

fr: Journal général

Check

noun

A check is a draft upon an account that is used to instruct a bank or other financial institution to transfer funds from the payer account.

Example: He gave me a check for 10 dollars.

fr: chèque

Monthly statement

noun

A monthly statement is a written record prepared by a financial institution, usually once a month, listing all credit card transactions for an account, including purchases, payments, fees, and finance charges.

Example: The interest is printed on your monthly statement so, you’ll know to add it into your checkbook yourself

fr: Relevé mensuel

Supplier

noun

a person or organization that provides something needed such as a product or service.

Example: Every major energy supplier upped their prices.

fr: Fournisseur

Budget

noun

A budget is an estimation of revenue and expenses over a specified future period and is usually compiled and re-evaluated on a periodic basis.

fr: Budget

Credit

noun

credit records all of the money flowing out of an account.

Example: Does this item go among the credits or the debits?

fr: Crédit

Debit

noun

An entry recorded for a payment made or owed.

Example: the sum of the items entered as debits.

fr: Débit

SWOT

acronym

SWOT is an acronym for strengths, weaknesses, opportunities, and threats. The SWOT analysis helps you see how you stand out in the marketplace, how you can grow as a business and where you are vulnerable.

Example: These include brainstorming, decision trees, SWOT analysis and critical path analysis among others.

fr: FFOM

Inflation

noun

The rate of increase in prices over a given period.

Example: In fact, BOT projects in the PRC are fraught with risks, from currency convertibility and INFLATION to government approval problems and the lack of a reliable legal system.

fr: Inflation

Deflation

noun

A fall on the overall level of prices in an economy and an increase in the purchasing power of the currency.

Example: A long DEFLATION lasted until about 1896.

fr: Déflation

Audit

verb

conduct an official financial examination of (an individual's or organization's accounts).

Example: Companies must have their accounts audited.

fr: Vérifier (les comptes)

Production Cost

noun

It refers to the costs a company incurs from manufacturing a product or providing a service that generates revenue for the company.

Example: The firm's production cost will understate the true social cost and the good will be overproduced.

fr: Coût de production

Overhead cost

noun

Overhead expenses are other costs not related to labor, direct materials, or production.

Example: Remaining debts are related to trade creditors and overhead costs.

fr: Frais indirect

Profit

noun

Profit describes the financial benefit realized when revenue generated from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity in question.

Example: Her profit on the cup of lemonade amounts to $1.75.

fr: Bénéfice

This glossary was made with the Virtual Writing Tutor glossary maker and grammar checker.