Accounting and Management Technology is a wonderful program that will offer any students with interests to this field the possibility to work in the future in a variety of technical occupations in the accounting, finance and management fields.
This glossary will help anyone having trouble understanding some of the most common terms associated with this course.
accounting
noun
The process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of the information.
Example: If the relative informational content of the separate components provided by this model better explains a firm's market value of equity than that of current ACCOUNTING measures, it could be considered to provide estimates that are consistent with the market's valuation of those components.
fr: comptabilité
amortisation
noun
The action or process of gradually writing off the initial cost of an asset.
Example: Goodwill AMORTISATION appears in the Profit and Loss Account of the Annual Report and is, like depreciation, subject to personal judgement, in the way it is applied, which therefore affects the profit of the company.
fr: amortissement
assets
noun
Property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.
Example: Inheritance For those people who have accumulated ASSETS during their lifetime, leaving money, property and land to relatives after death represents another - and very significant - mechanism through which economic support is given in families.
fr: actifs
bookkeeper
noun
A person whose job is to keep records of the financial affairs of a business.
Example: The BOOKKEEPER records all of the actions done by the company last month.
fr: comptable
budget
noun
A budget is an estimation of revenue and expenses over a specified future period of time and is utilized by governments, businesses, and individuals.
Example: By August, after Healey's latest mini - BUDGET had been passed through the Commons with surprising ease, there was a glow of good news, with bank rate falling to 7 per cent, the stock market rising strongly, the pound being sustained, and the balance of payments showing impressive recovery.
fr: budget
capital
noun
Anything that confers value or benefit to its owners.
Example: CAPITAL provision to support these two areas is scarce and the 1990s are going to test even the most supportive administrations to meet urgent demands for library extensions and preservation substitution programmes, neither of which has been an established part of institutional budget planning, nor likely to receive much more than sympathy from the funding councils, except perhaps in cases where enormous growth in student numbers have caused such pressures on space.
fr: capitale
credit
noun
The ability to borrow money or access goods or services with the understanding that you'll pay later.
Example: Some of the largest German corporations began to rely less on bank CREDIT and more on equity markets to raise capital.
fr: crédit
debit
noun
A debit is an expense, or money paid out from an account, that results in the increase of an asset or a decrease in a liability or owners equity.
Example: In the United Kingdom, the number of people making Internet card payments (using credit or DEBIT card) increased 50 percent between 2003 and 2004 to 20 million (APACS 2004).
fr: débit
debt
noun
Something, typically money, that is owed or due.
Example: Regression analysis results provide support that the present value calculated DEBT portion of convertible DEBT issues provides statistically significant explanatory power of the market value of firm equity.
fr: dette
depreciation
noun
An accounting method used to allocate the cost of a tangible or physical asset over its useful life.
Example: The second chapter explores the optimal length of copyright protection when the value of an intellectual work changes over time due to DEPRECIATION and value- enhancing ex- post investment.
fr: dépréciation
equity
noun
The value of the shares issued by a company.
Example: Another common source of EQUITY finance is from a business angel, which is an individual, or a small group of individuals, who offers their own capital to new ventures.
fr: équité
finance
noun
Finance, of financing, is the process of raising funds or capital for any kind of expenditure. It is the process of channeling various funds in the form of credit, loans, or invested capital to those economic entities that most need them or can put them to the most productive use.
Example: These ideas formed the basis of enterprise zones that received formal approval in the FINANCE Act 1980 and the Local Government, Planning and Land Act 1980.
fr: finance
insolvent
noun
Unable to pay debts owed.
Example: If the value is below 1 then the company is INSOLVENT.
fr: insolvable
liability
noun
The state of being responsible for something, especially by law.
Example: LIABILITY can fall on the manufacturer, supplier, distributor or certifier of products.
fr: responsabilité
management
noun
The conducting or supervising of something (such as a business).
Example: The Government's post - 1987 initiatives have, to some extent, reflected a diagnosis based on the need for better MANAGEMENT - though on the principle that central authorities can provide a firmer grip than local ones - but combined with an anti - collectivist belief in the restorative powers of capitalism.
market
noun
An area or arena in which commercial dealings are conducted.
Example: There seems to be a MARKET for every month in the TV and film industry, but the two MIPs are the biggest.
fr: marché
marketing
noun
The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Example: Functional Level Strategy Formulation MARKETING - The farm will need to advertise the newly renovated stables in suitable locations e.g. tack shop, feed merchant.
fr: commercialisation
profit
noun
The financial benefit realized when revenue generated from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity in question.
Example: Most owners want to maximize their PROFIT.
fr: profit
revenue
noun
The money generated from normal business operations, calculated as the average sales price times the number of units sold.
Example: Total REVENUE decreases as price increases if the good has a more elastic demand.
fr: revenu
taxes
noun
An amount of money that a government requires people to pay according to their income, the value of their property, etc., and that is used to pay for the things done by the government.
Example: The people would have had to pay their TAXES 'in kind' by producing food for the army, which meant that a surplus would have had to have been achieved.
