This glossary should help anyone in the field of accounting. It would be particulary useful for people who do not speak English as their first language.
account
noun
A report or description of an event or experience.
Example: A detailed account of what has been achieved.
fr: compte
bankruptcy
noun
The state of being bankrupt.
Example: Many companies were facing bankruptcy.
fr: la faillite
budget
noun
An estimate of income and expenditure for a set period of time.
Example: Keep within the household budget.
fr: budget
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: I've got unlimited credit.
fr: crédit
debit
noun
An entry recording an amount owed, listed on the left-hand side or column of an account.
Example: A double-entry system of bookkeeping, where each debit has a corresponding credit entry.
fr: débit
debt
noun
Something, typically money, that is owed or due.
Example: I paid off my debts.
fr: dette
discount rate
noun
The minimum interest rate set by the Federal Reserve for lending to other banks.
Example: What is the discount rate?
fr: taux de remise
escrow
noun
A bond, deed, or other document kept in the custody of a third party and taking effect only when a specified condition has been fulfilled.
Example: I will put and escrow on this.
fr: escroc
firm
noun
A business concern, especially one involving a partnership of two or more people.
Example: A law firm.
fr: firme
fiscal year
noun
A year as reckoned for taxing or accounting purposes.
Example: The firm is expected to turn a profit for its fiscal year ending April 30.
fr: exercice fiscal
floor
noun
A minimum level of prices or wages.
Example: The dollar's floor against the yen.
fr: le minimum
going public
verb
Become a public company.
Example: The company's share price has nearly quadrupled since it went public.
fr: rendre public
gross sales
noun
Gross sales is a metric for the total sales of a company, unadjusted for the costs related to generating those sales.
Example: My gross sales have increased.
fr: ventes brutes
income
noun
Money received, especially on a regular basis, for work or through investments.
Example: He has a nice home and an adequate income.
fr: revenu
journal entry
noun
A journal entry is a record of the business transactions in the accounting books of a business.
Example: I had to write a lot of journal entries.
fr: entrée de journal
ledger
noun
A book or other collection of financial accounts of a particular type.
Example: The total balance of the purchases ledger.
fr: registre
markup
noun
The amount added to the cost price of goods to cover overhead and profit.
Example: A markup of 50 percent.
fr: balisage
net profit
noun
The actual profit after working expenses not included in the calculation of gross profit have been paid.
Example: The company reported net profits up 7.6 percent.
fr: bénéfice net
periodic inventory system
noun
A system for determining inventory on hand by a physical count that is taken at the end of an accounting period.
Example: In a periodic inventory system, no continuous record of changes is kept.
fr: système d'inventaire périodique
wage
noun
A fixed regular payment, typically paid on a daily or weekly basis, made by an employer to an employee, especially to a manual or unskilled worker.
