Accounting glossary.

Hello! I made a little glossary of twenty words and terms related to my field of study, accounting. The purpose of the glossary that I made is to educate people who might be interested in some words or terms associated to accounting world. Each of them have a short description containing a definition, a translation, an exemple, an audio for the pronunciation, part of speech and some of them have an image.

accounting: noun; The action or process of keeping financial accounts.; Example: This is precisely an example of using ACCOUNTING as a form of control.; en: comptabilité
accounts payable: compound noun; Accounts payable (AP) represents the money a business owes to vendors or suppliers for goods and services purchased on credit. As a current liability, it signifies short-term obligations—typically due within 30 to 90 days—that must be paid to avoid penalties. AP is recorded in the general ledger and is crucial for maintaining cash flow.; Example: He finance team reviewed accounts payable to ensure all vendor invoices were processed before month‑end.; en: comptes à payer
accounts receivable: compound noun; Accounts receivable (AR) represents the outstanding balance of money owed to a business by customers for goods or services already delivered on credit.; Example: The team reviewed accounts receivable to ensure all outstanding customer payments were collected before closing the quarter.; en: comptes débiteurs
assets: noun; Assets are resources with economic value owned or controlled by individuals, companies, or entities, expected to provide future financial benefits.; Example: In recent years, corporate brands have become enormously valuable ASSETS - companies with strong corporate brands can have market values that are more than twice their book values.; en: actifs
balance sheet: compound noun; A balance sheet is a core financial statement providing a snapshot of a company's financial position at a specific point in time. It summarizes what a business owns (assets), owes (liabilities), and the amount invested by shareholders (equity). It adheres to the formula: Assets = Liabilities + Equity.; Example: For Assets and Liabilities mostly the BALANCE SHEET is used but to find what state the business is in requires also looking at the efficiency of the entity (ability to turn stocks into profit) and movement of cash in the entity, to see what the entity can afford to do and judge the effectiveness of the directors.; en: bilan
budget: noun; An estimate of income and expenditure for a set period.; 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
capital: noun; Capital refers to financial assets, such as money and property, or productive resources like machinery and factories, used by businesses and individuals to generate income, fund operations, and create wealth.; Example: A firm will have accepted all projects that offer a return greater than the cost of CAPITAL in such way that any other interim cash flows could only be reinvested at the cost of CAPITAL.; en: capital
cash accounting: compound noun; Cash accounting is a simple, cash-flow-focused method where revenue is recorded only when cash is received and expenses are recognized only when paid.; Example: Under cash accounting, revenue is recorded only when payment is received.; en: comptabilité de trésorerie
cash flow: compound noun; Cash flow is the total, net movement of money in (inflows) and out (outflows) of a business, project, or financial product over a specific period. It measures liquidity, indicating whether a company has enough cash to pay expenses, with positive cash flow showing more incoming money than outgoing, and negative cash flow indicating the opposite.; Example: Replacements & Terminal Value If the projects are found to have different life spans then conduct further analysis using either the 'equivalent annual CASH FLOW' method.; en: des flux de trésorerie
compliance: noun; Compliance in accounting is the critical process of ensuring a company’s financial records, reporting, and procedures adhere to legal, regulatory, and ethical standards, such as GAAP, IFRS, and tax laws. It aims to ensure accurate, transparent financial reporting, mitigating risk, preventing fraud, and upholding trust with stakeholders.; Example: usten clearly states " he was master at Mansfield Park' obtaining COMPLIANCE 'from submission.; en: conformité
e-commerce: noun; E-commerce, or electronic commerce, is the buying and selling of goods, services, or information over the internet using digital devices like computers, smartphones, and tablets.; Example: "Market share, profit margin, and marketing efficiency of early movers, bricks and clicks, and specialists in E-COMMERCE", Journal of Business Research , 58, p. 1030 - 1039.; en: commerce électronique
financial analysis: compound noun; Financial analysis is the process of evaluating a company's financial data, primarily from its financial statements (income statement, balance sheet, cash flow), to assess its performance, stability, profitability, and future potential, guiding decisions for investors, management, and lenders on viability, risk, and strategic planning.; Example: The first task for me when conducting a FINANCIAL ANALYSIS is assess the farms goals in performance, solvency and potential value.; en: analyse financière
general ledger: coumpound noun; A general ledger (GL) is the primary, comprehensive record of a company's financial data, organizing all transactions by account type—assets, liabilities, equity, revenue, and expenses.; Example: All financial transactions are recorded in the general ledger to ensure accurate reporting at month‑end.; en: grand livre
inventory: noun; A complete list of items such as property, goods in stock, or the contents of a building.; Example: Production There are currently 11,000 units of VUCK in INVENTORY, but after period 6, production was decreased to 32,000 and sales of 54,000 were achieved.; en: inventaire
liquidity: noun; Liquidity refers to the ease and speed with which an asset can be converted into cash without significantly affecting its market price. It measures the efficiency of buying/selling (market liquidity) or a firm's ability to meet short-term debts (accounting liquidity). Cash is the most liquid asset, while real estate is generally considered illiquid.; Example: Talk to the corporate finance staff about the state of the company's LIQUIDITY.; en: liquidité
net profit: compound noun; Net profit, often called the "bottom line" or net income, is the actual profit a company retains after subtracting all operating expenses, taxes, interest, and depreciation from total revenue. It measures a company's true profitability and financial health. The formula is: Net Profit = Total Revenue – Total Expenses.; Example: In this case, NET PROFIT before interest and taxation are used because the ratio measures the "return to all suppliers of long-term finance before any deductions for interest payable to lenders payments of dividends to shareholders, are made".; en: bénéfice net
payroll: noun; A list of a company's employees and the amount of money they are to be paid.; Example: On the other hand, the percentage of actual PAYROLL has decreased in comparison to budget and this may be due to the increase in sales.; en: paie
payroll taxes: compound noun; Payroll taxes are the contributions employees and businesses make to the government to fund public programs, such as retirement, healthcare, and unemployment insurance.; Example: An alternative which America has chosen to use is the Earned Income Tax Credit or EITC which is a refundable tax credit that reduces or eliminates the taxes that low-income working people pay (such as PAYROLL TAXES) and also frequently operates as a wage subsidy for low-income workers.; en: cotisations sociales
receipt: noun; A receipt is a written acknowledgment that something of value has been transferred from one party to another.; Example: Here, rewards serve as a moderating variable and satisfaction comes from the RECEIPT of both intrinsic and extrinsic rewards which are the consequences of performance, although intrinsic need satisfaction was more closely related to performance than was extrinsic need satisfaction.; en: reçu
sales tax: coumpound noun; A tax on sales or on the receipts from sales.; Example: The incidence of a SALES TAX, for example, falls more heavily upon the producer than on the consumer.; en: taxe de vente