20 Words that are useful in management and accounting. terms
Hi! I'm Félix and I study management and accounting here in Cegep de Thetford. I am actually completing my second year and this program, and I love it. When you study in management and accounting, you need to master some important words. This glossary will be very useful for those who have to deal with clients who speak English. This glossary will contain 20 different terms with their definition, translation, an example for each of them, and even, the way to pronounce it correctly. To find those 20 words, I used my class's book and took the most important ones. You should take a look at this glossary and learn those terms in order to be able to deal with international clients.
asset
noun
Property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.
Example: The lowest reasonable estimate of an ASSET's value should be taken.
en: actif
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: It is not commonly used by investors but still regarded as a valid relationship implying the potential return related to the value of Equity in BALANCE SHEET.
en: bilan
bank account
noun
An arrangement made with a bank whereby one may deposit and withdraw money and in some cases be paid interest.
Example: Here's an excerpt from the Oxford Brooke's University's website on how to open a BANK ACCOUNT for international students: Opening a bank accountYou may want to open a BANK ACCOUNT for use while you are a student, but can be difficult for international students.
en: compte bancaire
budget
noun
An estimate of income and expenditure for a set period of time.
Example: SEN2 is a new product, thus a BUDGET $4000 needs to be spent on advertising to make consumers aware of the product.
en: budget
cashflow
noun
The total amount of money being transferred into and out of a business, especially as affecting liquidity.
Example: This is what differentiates a complex system from a time-based system The project manager must prepare a budget for the project and be aware of CASHFLOW issues that may arise, so as to not bring the company into CASHFLOW difficulties.
en: des flux de trésorerie
credit
noun
The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.
Example: Some of the largest German corporations began to rely less on bank CREDIT and more on equity markets to raise capital.
en: crédit
customer
noun
A person or organization that buys goods or services from a store or business.
Example: The implication of this is that advertising levels aren't the problem and that the product simply doesn't suit the demands of the CUSTOMER.
en: client
debt
noun
Something, typically money, that is owed or due.
Example: Secondly, they must restrict the spillover effects of unsustainable DEBT levels and deficits.
en: dette
depreciation
noun
A reduction in the value of an asset with the passage of time, due in particular to wear and tear.
Example: The over use of old original machines will cause the higher DEPRECIATION rate and maintenance time.
en: dépréciation
financial statement
noun
A financial statement is a formal record summarizing a business's financial activities and health over a specific period (month, quarter, or year), acting as a "report card" for stakeholders like investors, lenders, and managers to assess performance, position, and cash flow.
Example: T & F Inform Annual Report FINANCIAL STATEMENT, 2004, Specialist Information for Global Market.
en: états financiers
inventory
noun
A complete list of items such as property, goods in stock, or the contents of a building.
Example: Production There are currently 11,000 units of VUCK in INVENTORY, but after period 6, production was decreased to 32,000 and sales of 54,000 were achieved.
en: inventaire
investment
noun
The action or process of investing money for profit or material result.
Example: The underlying assumption that the early farmers were preoccupied with maximising 'returns on INVESTMENT' can be questioned.
en: investissement
merger
noun
A combination of two things, especially companies, into one.
Example: Bill Gates' acquisition of a major share of Four Seasons and ownership of Microsoft make credible a MERGER between the two and the creation of a seminal operating system, which could shape the market and change competition rules.
en: fusionnement
payment
noun
The action or process of paying someone or something or of being paid.
Example: Thus, Hyundai must take necessary steps to improve the liquidity, since it can give a concern for short-term creditors, where they could press for PAYMENT.
en: paiement
price
noun
The amount of money expected, required, or given in payment for something.
Example: Battery comes out top with about 60% but this can be justified because despite the horrific conditions these birds are kept in, some people in the UK can not afford to buy free range due to the PRICE.
en: prix
profit
noun
A financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.
Example: It proved unprofitable as the two segments optimum values were too different and another company was better positioned to provide hi-earners with the perfect product and therefore Jolly SU avoided the potential majority fallacy. The professional market was far larger allowing more potential PROFIT.
en: profit
risk management
noun
The forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact.
Example: Stakeholders management, definition of the project, implementation strategy, RISK MANAGEMENT, progress and expenditure planning are issues that have to be considered during the appraisal and preparation phase of the project.
en: gestion des risques
salary
noun
A fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee, especially a professional or white-collar worker.
Example: The introduction of an annual SALARY, based on individual performance ability further suggests greater westernization.
en: salaire
supplier
noun
A person or organization that provides something needed such as a product or service.
Example: A 30% reduction in the cost of buying in yarn would cause it to be cheaper than producing it, but if the SUPPLIER's reliability is questionable, it may be more sensible to try and gain a 20% reduction from the current SUPPLIER.
en: fournisseur
tax
noun
A compulsory contribution to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions.
Example: This allows other forms of wealth to escape taxation as revealed by Harvey in 2000 (p389). 'concentrating on a single form of wealth, -property- allows other types, such as works of art, jewellery and antiques, to escape TAX.'