This glossary contains the words people can use to describe some accounting things
Asset
noun
Property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.
Example: They used to manage their ASSET as banks did, whereas, they have changed their investment policies recently in turning to increase their equity holdings (Jurgens et.al.2000).
fr: Actif
Debt
noun
Something, typically money, that is owed or due.
Example: Governments gain more from surprise inflation than central banks as it reduces the government's real DEBT and interest payment, as well as providing an opening for new DEBT and more opportunity for government spending.
fr: Dette
Net Income
noun
Net income refers to the amount an individual or business makes after deducting costs, allowances and taxes
Example: General Electric's NET INCOME fell from $60.5m in 1930 to $14.7m in 1932 as 'No men wanted' signs swiftly appeared in shop and factory windows.