20 Those are the 20 new words from accounting that I've learned. terms
My glossary is going to be on the field I have been studying for the last two years. Accounting and management must have a lot of words, let's see!
accountant
noun
A person skilled in the recording and reporting of financial transactions.
Example: Shawinigan's Morgan coffee needs a new accountant firm to do their final statement.
fr: Comptable
Accounting
noun
Recording and reporting of financial transactions, including the origination of the transaction, it's recognition, processing, and summarization in the FINANCIAL STATEMENTS.
Example: Dolloite is an Anglo-American multinational accounting firm.
fr: comptabilité
accrued expense
conjonction
An expense that has occurred but is not recognized in the accounts.
Example: Morgan coffee company needs to fix its expenditure. It has too many accrued expenses this month.
fr: Charges à payer
Asset
Noun
An economic resource that is expected to be of benefit in the future. Probable future economic benefits obtained as a result of past transactions or events. Anything of value to which the firm has a legal claim. Any owned tangible or intangible object having economic value useful to the owner.
Example: This company had 5000$ in short-term assets last month.
fr: Actif
Balance sheet
Noun
Basic financial statement, usually accompanied by appropriate disclosure that describes the basis of accounting used in its preparation and presentation of a specified date the entity's assets, liabilities, and the equity of its owners. Also known as a statement of financial condition.
Example: Morgan coffee had made a benefit of 1, 950,005$ after the balance sheet was made.
fr: Bilan
Cash
Noun
ASSET account on a balance sheet representing paper currency and coins, negotiable money orders and checks, bank balances, and certain short-term government securities.
Example: Shawinigan' Morgan coffee has 99,595$ in cash asset
fr: Liquidité
Collateral
noun
Asset provided to a creditor as security for a loan.
Example: Shawinigan's Morgan coffee has collateral on the stock
fr: garantie
Creditor
noun
A party that loans money or other ASSETS to another party.
Example: Shawinigan's Morgan coffee need to pay 500$ to a creditor
fr: créancier, crediteur
Debt
noun
A general name for money, notes, BONDS, goods, or services which represent amounts owed.
fr: Dette, capitaux empruntés
Disbursment
noun
Payment by cash or check.
Example: When you buy something and pay it now, a disbursement is made in the bank account.
fr: Décaissement
Earned income
conjonction
Wages, salaries, professional fees, and other amounts received as compensation for services rendered.
Example: In 2020, Delloitte made 2,550,550$ in earned income.
fr: Revenu d'activités économiques
Financial statement
noun
Presentation of financial data including BALANCE SHEETS, INCOME STATEMENTS and STATEMENTS OF CASH FLOW, or any supporting statement that is intended to communicate an entity's financial position at a point in time and its results of operations for a period then ended.
Example: One of the tasks of an accountant is to make financials statements.
fr: États financiers
General leader
noun
Collection of all ASSET, LIABILITY, owners EQUITY, REVENUE, and expense accounts.
Example: A new provider has been added to the general leader this week.
fr: Grand livre comptable
Intangible assets
noun
Asset having no physical existence such as trademarks and patents.
Example: A client is an example of intangible assets.
fr: Actifs non-tangibles
Inventory turnover
noun
A ratio used to indicate the number of times a COMPANY’s average inventory is sold during an accounting period.
Example: Morgan coffee had the best inventory turnover in town. That means they sold a lot!
fr: Rotation des stocks
Invoice
noun
Bill prepared by a seller of goods or services and submitted to the purchaser.
Example: After each sale, Shawinigan's Morgan coffee give an invoice to the client
fr: Facture
liability
noun
DEBTS or OBLIGATIONS owned by one entity (DEBTOR) to another entity (CREDITOR) payable in money, goods, or services.
Example: One of the most common liabilities is the mortgage.
fr: Passif
Management
noun
Combined fields of policy and administration and the people who provide the decisions and supervision necessary to implement the owner’s business objectives and achieve stability and growth
Example: A company needs good management to be successful.
fr: Gestion, administration
Margin
noun
Excess of selling price over the unit cost.
Example: For each coffee that has been sold, Shawinigan's Morgan coffee make a margin of 1$
fr: Marge (Marge de profit)
Provider
noun
A provider is a person or a company that either manufactures, processes, packages, or installs controlled products, or carries out activities of importation or sale of these products. We often talk about the customer-supplier relationship.
Example: Brûlerie mékinac is a provider for the Shawinigan's Morgan coffee
