Hello everyone, my name is Tommy and I've been in the Accounting and Management program for 3 years. The glossary you will be reading here, is one of many that me and my classmates have written. We are writing glossaries to help each others deepen our knowledge in the accounting field.
Amortization
Noun
The action or process of gradually writing off the initial cost of an asset.
Example: The company truck will be losing $20 000 of what it's worth every year because of its amortization.
fr: Amortissement
Annuity
Noun
A fixed sum of money paid to someone each year, typically for the rest of their life.
Example: Tommy left Pier-Luc an annuity of $1,000 in his will.
fr: Annuité
Asset
Noun
Property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.
Example: It is often assumed that a firm only holds riskless debt.
In reality, firm's hold risky as well as risk less debt and assuming a debt beta of 0 would not provide an accurate estimation of the firm's asset beta.
fr: Actif
Audit
Noun
Audit is the examination or inspection of various books of accounts by an auditor followed by physical checking of inventory to make sure that all departments are following documented system of recording transactions. It is done to ascertain the accuracy of financial statements provided by the organisation.
Example: The question is whether the public demands on increased responsibility of auditors to detect fraud is really one that can be reasonably expected of the audit.
fr: Audit
Deflation
Noun
Reduction of the general level of prices in an economy.
Example: A time of high unemployment and deflation.
fr: Déflation
Honorarium
Noun
A payment given for professional services that are rendered nominally without charge.
Example: We are willing to offer a small honorarium that we hope you will accept for judging the competition.
fr: Honoraire
Inflation
Noun
A general increase in prices and fall in the purchasing value of money.
Example: Policies aimed at controlling inflation.
fr: Inflation
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 monthly rate of your interest is at 5%.
fr: Intérêt
Journalize
Verb
Enter (notes or information) in a journal or account book.
Example: I would gladly journalize some of my proceedings.
fr: Passer des écritures au journal général
Margin
Verb
Deposit an amount of money with a broker as security for (an account or transaction).
Example: New contracts are margined with the winnings of previously held contracts.
fr: Marge
Matrix
Noun
An organizational structure in which two or more lines of command, responsibility, or communication may run through the same individual.
Example: Matrix structures are said to foster greater flexibility.
fr: Grille, matrice
Mortgage
Noun
A legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.
Example: I put down a hundred thousand in cash and took out a mortgage for the rest.
fr: Hypothèque
Payroll
Noun
A list of a company's employees and the amount of money they are to be paid.
Example: There are just three employees on the payroll.
fr: Livre de paie
Pledge
Give as security on a loan.
Example: The creditor to whom the land is pledged.
fr: Nantir
Shareholder
Noun
An owner of shares in a company.
Example: If the firm doesn't pay out all of its dividends to the shareholder, they might sell all of their shares.
