Accounting and Management Glossary
Hi, my name is KHAWLA BOURTAL. I am 19 years old, and I have been studying at Ahuntsic College for two years. I am studying Accounting and Management Technology. I create this glossary to help students or people interested in Accounting and Management understand the meaning of 20 words related to Accounting or Management. Each word will have a definition, an audio pronunciation to help people say the word correctly, an example of how we can use the word in a sentence and some may even have an image.
- accounting
- noun
- The systematic and comprehensive recording of financial transactions pertaining to a business.
- Example: UK shoppers buy their groceries online more than any other country with Tesco ACCOUNTING for half of the purchases.
- en: comptabilité
- 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: The rules require companies to assign current market values to the interest-rate swaps, options, and other derivatives they hold and to reflect any changes in their value on the BALANCE SHEET.
- en: bilan
- budget
- noun
- An estimate of income and expenditure for a set period in the future.
- Example: SEN2 is a new product, thus a BUDGET $4000 needs to be spent on advertising to make consumers aware of the product.
- en: budget
- business
- noun
- The practice of making one's living by engaging in commerce.
- Example: Profit and Loss Statement - Profit and Loss Statement is based on BUSINESS transactions.
- en: entreprise
- capital account
- noun
- That part of the balance of payments recording a nation's outflow and inflow of financial securities.
- Example: The current account was opened in August 1994, and the CAPITAL ACCOUNT is cautiously, though gradually, being liberalized.
- en: compte de capital
- cash cycle
- noun
- The length of time between the purchase of raw materials and the collection of accounts receivable generated in the sale of the final product.
- Example: In order to improve cash flow, the company implemented strategies to shorten the CASH CYCLE by reducing inventory and optimizing payment terms.
- en: cycle de trésorerie
- chart of accounts
- noun
- A created list of the accounts used by a business entity to define each class of items for which money or the equivalent is spent or received.
- Example: When setting up their financial records, the company created a detailed CHART OF ACCOUNTS to categorize and track their income, expenses, assets, and liabilities.
- en: plan comptable
- cheque
- noun
- A printed form, used instead of money, to make payments from your bank account.
- Example: There should be an option of other payment methods, such as for example sending a CHEQUE by post, if a customer does not want to pay online.
- en: chèque
- credit
- noun
- The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.
- Example: Other groups include managers, employees, government, environmental group, local communities, providers of CREDIT, customers, suppliers etc.
- en: crédit
- customer
- noun
- A person or organization that buys goods or services from a store or business.
- Example: Their CUSTOMER base is more diverse and the focus is on larger companies.
- en: client
- deposit slip
- noun
- A deposit slip is a small paper form that a bank customer includes when depositing funds into a bank account.
- Example: I went to the bank this morning and filled out a DEPOSIT SLIP to deposit my paycheck.
- en: bordereau de dépôt
- dividend
- noun
- A sum of money paid regularly (typically quarterly) by a company to its shareholders out of its profits (or reserves).
- Example: The DIVIDEND yield is falling each year, and the investment gaining less and less money.
- en: dividende
- employer
- noun
- A person or business that employs one or more people, especially for wages.
- Example: It is more likely that the creation of railway routes was maintained as it acted as an EMPLOYER for British workers.
- en: employeur
- federal
- noun
- Pertaining to or of the nature of a union of states under a central government distinct from the individual governments of the separate states.
- Example: Without the FEDERAL Reserve Bank of America and additional money from the involved banks, the hedge-fund would have gone bust.
- en: fédéral
- finance
- noun
- The management of large amounts of money, especially by governments or large companies.
- Example: Assuming the early development program is successful, managers will then seek further rounds of FINANCE.
- en: finance
- financial statement
- noun
- A document showing credits and debits.
- Example: The definition of a FINANCIAL STATEMENT is "the basic information used for financial control of an organisation" (Daft, 2002).
- en: état financier
- interest
- noun
- Money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
- Example: The home buyer puts up the other half of the closing costs and fee, and then pays INTEREST at 12 percent a year to the investor.
- en: intérêt
- net eranings
- noun
- The total revenue in an accounting period minus all expenses during the same period.
- Example: After deducting expenses and taxes, the company's NET EARNINGS for the year amounted to $1 million.
- en: bénéfice net
- profit
- noun
- A financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.
- Example: The main objectives during the 7 periods have been to maximize PROFIT, sustain business growth, maximize market share and shares price and thus keeping the leading market position.
- en: profit
- purchase
- noun
- Acquire (something) by paying for it; buy.
- en: achat
