This glossary will help you learn different business terms to improve your business discussions
Amortization
The reduction of the value of an asset by prorating its cost over a period of years.; The paying off of a debt in equal installments composed of gradually changing amounts of principal and interest.
Example: Do not forget to include the amortization in your financial statements.
en: Amortissement
Board of directors
A legal process intended to ensure equality among the creditors of a corporation declared to be insolvent.; The condition of being financially insolvent.
Example: The board of directors will take a decision tomorrow.
en: Conseil d’administration
Break-even point
The sales or revenues necessary to cover costs and prevent a firm from operating at a loss.; Refers to the price at which a transaction produces neither a gain nor a loss.
Example: Your business has just reached their break-even point.
en: Seuil de rentabilité
General ledger
A record of a company's financial statements. It contains two columns: one for credits and one for debits.
Example: Can you check the general ledger for any anormal transactions?
en: Grand livre comptable
GST or Goods and Services Tax
A multi-level value added tax levied on supplies of goods or services purchased in Canada and includes most products, except certain essentials such as groceries, residential rent, and medical services, and services such as financial services.
Example: Consumers often must pay the GST when buying products.
en: TPS ou taxe sur les produits et services
Insolvency
Unable to meet debts or discharge liabilities; bankrupt.
Example: In the event of insolvency, equity is subordinated to debt and thus carries a higher risk.
en: Insolvabilité
Installment
One of a number of successive payments in settlement of a debt.
Example: Of course, you can also pay more than your regular installment at any time, without penalty.
en: Versement
Invoice
A detailed list of goods shipped or services rendered, with an account of all costs; an itemized bill.
Example: The billing location is not necessarily the same as the billing address, or the place to which the invoice is sent.
en: Facture
Profitability
The quality of affording gain or benefit or profit.
Example: Profitability is the only goal in mind, regardless of any human feeling.
en: Rentabilité
Resignation
The act of resigning/quitting.; A formal document stating one's intention to resign/quitting.
Example: There was a resignation from this position.