My name is Christopher Jean Léger and I'm in Accounting and Managent Technology program at Ahuntsic College.I've been in this program for 2 years, and it is a pre-university program. I want to become an accountant further in my life and I wish to go to university in the winter 2025 semester.To know more about the vocabulary around my program, I did a glossary of 20 words that are used a lot in my Accounting and Management Technology program. Of course, I know a lot of words in French around my program, but in English it's clearly harder because it's my second language. First, doing a glossary is going to help me improve my English and second, I am going to learn some terms that are essential if I go to university in the United States in this same field-of-study. So, this blog includes English terms that I am not really familiar with, and that are also related to my field-of-study to expand my vocabulary around my program.
balance sheet
noun
A statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.
Example: This is a quality company with a strong balance sheet and an increasing dividend.
fr: bilan
bankruptcy
noun
Bankruptcy is a legal proceeding initiated when a person or business is unable to repay outstanding debts or obligations.
Example: We cannot allow other companies to access our data and copy our ideas as it could lead to BANKRUPTCY of our venture.
fr: faillite
breakeven point
noun
Break-even analysis in economics, business, and cost accounting refers to the point at which total costs and total revenue are equal.
Example: They had to become a more efficient, lower-cost operation, which meant downsizing the company just to reduce their breakeven point.
fr: seuil de rentabilité
cash cycle
noun
The cash conversion cycle is the amount of time in days that a company takes to convert money spent on inventory or production back into cash by selling its goods or services.
Example: For example, if it takes your business an average of 14.2 days to turn over inventory (DIO = 14.2), 15.6 days to receive payment from customers (DSO = 15.6), and 17.3 days to pay suppliers (DPO = 17.3), your cash conversion cycle would be 12.5 days (or 14.2+15.6 — 17.3).
fr: cycle de trésorerie
chart of accounts
noun
A chart of accounts is a list of all your company’s “accounts,” together in one place. It provides you with a birds eye view of every area of your business that spends or makes money. The main account types include Revenue, Expenses, Assets, Liabilities, and Equity.
Example: There are resources set up in various areas such as Finance Management which has IRS forms, accounting manuals and unified chart of accounts.
fr: plan comptable
currency
noun
A system of money in general use in a particular country.
Example: The US dollar is the most important CURRENCY in terms of global reserves.
fr: devise
debtor
noun
A person or institution that owes a sum of money.
Example: The measurement of DEBTOR days indicates that it would take on average 40 days for the debtors to pay the hotel.
fr: débiteur
discount
noun
Deduct an amount from (the usual price of something).
Example: For example each customer good be given a book to be stamped by staff when customers pay and for every ten visits they could get a 50% DISCOUNT on their next visit or perhaps a free takeaway box.
fr: rabais
down payment
noun
An initial payment made when something is bought on credit.
Example: She made a 10 percent down payment on the car.
fr: acompte
expenditure
noun
An amount of money spent.
Example: This category of consumers spends between 6-12 per cent of their monthly EXPENDITURE on organic food, and are second largest contributor to Waitrose's income from organic sales.
fr: dépense
interest
noun
Money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
Example: He receives monthly interest payments on the loan.
fr: intérêt
Investment
noun
The action or process of investing money for profit or material result.
Example: He has made a $1 million investment in the company.
fr: investissement
liquid assets
noun
A liquid asset is an asset that can easily be converted into cash in a short amount of time.
Example: The bank had sufficient liquid assets to continue operations.
fr: actifs liquides
margin
noun
In the business world, margin is the difference between the price at which a product is sold and the costs associated with making or selling the product.
Example: At this recommended price and MARGIN of 40%, the company would receive revenue of $189 per unit.
fr: marge
overdraft
noun
An overdraft occurs when you don't have enough money in your account to cover a transaction, but the bank pays the transaction anyway.
Example: For example, if you have no money left in your account and you spend £30, your balance would be -£30. This means you’re using an overdraft.
fr: découvert
real estate
noun
Property consisting of land or buildings.
Example: By investing in real estate, he was one of the richest men in the United States.
fr: immobilier
shareholder
noun
An owner of shares in a company.
Example: He was the company 's largest shareholder.
fr: actionnaire
stock
noun
The goods or merchandise kept on the premises of a business or warehouse and available for sale or distribution.
Example: They offered cloths at a discounted price in factory outlet malls to clear excess STOCK.
fr: provision
Tangible assets
noun
A tangible asset is an asset that has a finite monetary value and usually a physical form.
Example: Ideally, they want a company with steady cashflows and valuable, tangible assets.
fr: actifs corporels
wages
noun
A fixed regular payment, typically paid on a daily or weekly basis, made by an employer to an employee.
Example: The company offers competitive wages and good benefits.
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