21 This is my third and last year at Montmorency College. My field of study is commerce. It is a pre-university program that helps students take their first step in the commerce world. There's an introduction course in most domains of that field such as econ terms
A lot of people, even students, know the important words in the field, but don't really understand them which can lead to misunderstandings and mistakes. I made this glossary so everybody who reads it can firmly comprehend the important words. This comprehension will not only help students in their academic journey but in everyone's life.
accounting
noun
Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing and reporting these transactions to oversight agencies, regulators and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company's operations, financial position and cash flows.
Example: Accounting helped me do my personal taxes
en: comptabilité
asset
noun
An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit. Assets are reported on a company's balance sheet and are bought or created to increase a firm's value or benefit the firm's operations. An asset can be thought of as something that, in the future, can generate cash flow, reduce expenses, or improve sales, regardless of whether it's manufacturing equipment or a patent.
Example: The government froze all of his assets.
en: atout
business
noun
A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. Businesses can be for-profit entities or they can be non-profit organizations that operate to fulfill a charitable mission or further a social cause.
Example: I am expending my business in Brazil.
en: entreprise
capital
noun
Capital is a term for financial assets, such as funds held in deposit accounts and/or funds obtained from special financing sources. Capital can also be associated with capital assets of a company that requires significant amounts of capital to finance or expand.
Example: You need an initial capital to start a business.
en: capitale
cash flow
noun
Cash flow is the net amount of cash and cash-equivalents being transferred into and out of a business. At the most fundamental level, a company’s ability to create value for shareholders is determined by its ability to generate positive cash flows, or more specifically, maximize long-term free cash flow (FCF).
Example: The cash flow of my business is in the six figure this month.
en: flux de trésorerie
commerce
noun
Commerce is a two-year pre-university profile within the Social Science program designed for students interested in studying any commerce-related field (finance, marketing, accounting, human resources, etc.) or any field in the social sciences at university.
Example: The commerce program is important for upcoming entrepreneurs
en: administration
company
noun
A company is a legal entity formed by a group of individuals to engage in and operate a business, commercial or industrial enterprise. A company may be organized in various ways for tax and financial liability purposes depending on the corporate law of its jurisdiction.
Example: My company is established in 10 countries.
en: compagnie
corporation
noun
A corporation is a legal entity that is separate and distinct from its owners.1 Corporations enjoy most of the rights and responsibilities that individuals possess: they can enter contracts, loan and borrow money, sue and be sued, hire employees, own assets, and pay taxes. Some refer to it as a "legal person."
Example: He works as a consultant for several large corporations.
en: société
equity
noun
Equity, typically referred to as shareholders' equity (or owners equity' for privately held companies), represents the amount of money that would be returned to a company’s shareholders if all of the assets were liquidated and all of the company's debt was paid off.
Example: He owns 62% of the group's equity.
en: équité
expense
noun
An expense is the cost of operations that a company incurs to generate revenue. As the popular saying goes, “it costs money to make money.”
Example: Security guards are a big expense but it's necessary.
en: dépense
finance
noun
Finance is defined as the management of money and includes activities such as investing, borrowing, lending, budgeting, saving, and forecasting. There are three main types of finance: personal, corporate, and public/government.
Example: An expert in finance can predict a global recession.
en: finance
human resources
noun
Human resources (HR) is the division of a business that is charged with finding, screening, recruiting, and training job applicants, as well as administering employee-benefit programs. HR plays a key role in helping companies deal with a fast-changing business environment and a greater demand for quality employees in the 21st century.
Example: Luke didn't focus on human resources, that explains why most of his employees are unhappy.
en: ressources humaines
invest
verb
Investing is an asset or item acquired with the goal of generating income or appreciation. Appreciation refers to an increase in the value of an asset over time. When an individual purchases a good as an investment, the intent is not to consume the good but rather to use it in the future to create wealth. An investment always concerns the outlay of some asset such as time, money, or effort in hopes of a greater payoff in the future than what was originally put in.
Example: I will invest in my friend's business.
en: investir
liability
noun
A liability is something a person or company owes, usually a sum of money. Liabilities are settled over time through the transfer of economic benefits including money, goods, or services. Recorded on the right side of the balance sheet, liabilities include loans, accounts payable, mortgages, deferred revenues, bonds, warranties, and accrued expenses.
Example: His partner took all the company's liabilities under his name.
en: passifs
market
noun
A market is a place where two parties can gather to facilitate the exchange of goods and services. The parties involved are usually buyers and sellers. The market may be physical like a retail outlet, where people meet face-to-face, or virtual like an online market, where there is no direct physical contact between buyers and sellers.
Example: The bitcoin market is a new market.
en: marché
marketing
noun
Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products to consumers or other businesses. Some marketing is done by affiliates on behalf of a company.
Example: George did most of his marketing in local stores.
en: commercialisation
net worth
noun
Net worth is the value the assets a person or corporation owns, minus the liabilities they owe. It is an important metric to gauge a company's health and it provides a snapshot of the firm's current financial position.
Example: He needs to evaluate his net worth to buy a house
en: valeur nette
profit
noun
Profit describes the financial benefit realized when revenue generated from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity in question. Any profits earned funnel back to business owners, who choose to either pocket the cash or reinvest it back into the business. Profit is calculated as total revenue less total expenses
Example: She makes a big profit from selling waste material to textile companies.
en: profit
revenue
noun
Revenue is the income generated from normal business operations and includes discounts and deductions for returned merchandise. It is the top line or gross income figure from which costs are subtracted to determine net income.
Example: This company focuses on its revenue more than anything.
en: revenu
stock
noun
A stock is a security that represents the ownership of a fraction of a corporation. This entitles the owner of the stock to a proportion of the corporation's assets and profits equal to how much stock they own. Units of stock are called "shares."
Example: My Microsoft stocks are going down.
en: stock
taxes
noun
Taxes are involuntary fees levied on individuals or corporations and enforced by a government entity whether local, regional or national in order to finance government activities. In economics, taxes fall on whomever pays the burden of the tax, whether this is the entity being taxed, such as a business, or the end consumers of the business's goods.
Example: I will do this year taxes with my accountant
