Basic Accounting Glossary

20 terms

My field of study is accounting and management technology, and it's my third year in that program. What I learn in this program is often related with money and company. We learn a lot of stuff about how the finance works in a business, what are the enter and the exit in the business and how they are affecting financially. My field of study can be helpful for first-year students in accounting and business management, because in my first year, I didn't know the definition of the majority of terms in this program. For my glossary, I went into my old accounting book that I received in my first year. To learn these terms well, the reader can write all the words in his note with the definition.

administrative: It's relating to the running of a business or organization.
asset: It's a property owned by a person or a company, regarded as having value and available to meet debts, commitments, or legacies.
balance: Tho offset or compare the value of (one thing) with another.
budgetary: It's relating to or in accordance with an estimate of income and expenditure.
business: The practice of making one's living by engaging in commerce.
depreciation: A reduce in the value of an assets with the passage of time, due in particular to wear and tear.
dividend: A sum of money paid regullary (typically quarterly) by a company to its shareholders out of its profit (or reserve).
economic: It's relating to economics or the economy. In others words, relating to or based on the production, distribution, and consumption of goods and services.
equity: The value of the shares issued by a company.
fiscal: It's relating to government revenue, especially taxes.
interest: An amount of money paid regularly at a particular rate for the use of money lent, or delaying the repayment of a debt.
inventory: A complete list of items such as property, goods in stock, or the contents of a building.
investment: The action or process of investing money for profit or material result.
liabilities: A thing for which someone is responsible, especially in debts or financial obligation.
management: The process of dealing with or controlling things or people.
marketing: The activity or business of promoting and selling products and services, including market research and advertising.
money: A current medium of exchange in the forms of coins and banknotes.
profitability
revenue: It's a income, especially when of company or organization and of a substantial nature.
taxation: The imposition of compulsory levies on individuals or entities by the government.