1099 Form
A 1099 form is a U.S. tax document used to report payments made to independent contractors and other non-employee payees.
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The Accountant's Dictionary
Search structured definitions, practical explanations, and related business terms for HR, payroll, accounting, finance, and operational control.
Search the Eprecus ERP The Accountant's Dictionary
The Eprecus ERP dictionary is built for finance teams, HR managers, payroll administrators, operations leads, and business owners who need clear definitions they can apply inside real workflows. Use this glossary to understand payroll terminology, accounting definitions, HR metrics, and enterprise software concepts without vague textbook language.
Each entry is written to support practical ERP work, including reporting, approvals, payroll review, compliance conversations, reconciliation, workforce planning, and process design. If you need deeper examples, continue into the Eprecus ERP blog or review the platform overview.
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Absence from Duty without Prior Approval
Absence from duty without prior approval is an unauthorized failure to report for work or obtain the required approval before being away from duty in the Jamaica public service.
Absenteeism Rate
Absenteeism rate measures the percentage of scheduled work time employees miss over a defined period.
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Filtered by search term 'ar'
Letters available
23
A
Accrual
An accrual records income earned or expenses incurred before cash is received or paid.
The Accountant's Dictionary
• accrual accounting, month end close, financial reporting
accounting department
accounting department is an accounting term related to the classification, recording, or reporting of financial transactions within an account structure.
The Accountant's Dictionary
• accounting, finance
Accounting Principles Board (APB)
Accounting Principles Board (APB) is an accounting term related to the classification, recording, or reporting of financial transactions within an account structure.
The Accountant's Dictionary
• accounting, finance
Accounting Research Bulletin (ARB)
Accounting Research Bulletin (ARB) is an accounting term related to the classification, recording, or reporting of financial transactions within an account structure.
The Accountant's Dictionary
• accounting, finance
accrual basis of accounting
Accrual basis accounting recognizes revenue when earned and expenses when incurred, regardless of when cash is received or paid.
The Accountant's Dictionary
• accounting, finance, accruals
accrued expenses payable
Accrued expenses payable are expenses already incurred by the business but not yet invoiced or paid at the reporting date.
The Accountant's Dictionary
• accounting, finance, accruals
accrued liability
accrued liability is a liability-related term used to describe an obligation the business owes to another party.
The Accountant's Dictionary
• accounting, finance
accrued rent income
accrued rent income is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
accrued rent liability
accrued rent liability is a liability-related term used to describe an obligation the business owes to another party.
The Accountant's Dictionary
• accounting, finance
accrued revenue
accrued revenue is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
accrued vacation liability
accrued vacation liability is a liability-related term used to describe an obligation the business owes to another party.
The Accountant's Dictionary
• accounting, finance
accumulated other comprehensive income
accumulated other comprehensive income is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
adjusted trial balance
An adjusted trial balance is the trial balance prepared after accruals, deferrals, depreciation, and other adjusting entries have been posted for the period.
The Accountant's Dictionary
• accounting, finance, reporting
ACCA
ACCA stands for the Association of Chartered Certified Accountants, a global professional accounting body.
The Accountant's Dictionary
• accounting, finance
amortization of bond discount
amortization of bond discount is an amortization-related term used to spread the cost, discount, premium, or carrying amount of an item over time.
The Accountant's Dictionary
• accounting, finance
amortization of bond issue costs
amortization of bond issue costs is an amortization-related term used to spread the cost, discount, premium, or carrying amount of an item over time.
The Accountant's Dictionary
• accounting, finance, management-accounting
amortization of bond premium
amortization of bond premium is an amortization-related term used to spread the cost, discount, premium, or carrying amount of an item over time.
The Accountant's Dictionary
• accounting, finance
amortization of intangible assets
amortization of intangible assets is an amortization-related term used to spread the cost, discount, premium, or carrying amount of an item over time.
The Accountant's Dictionary
• accounting, finance
amortization schedule
amortization schedule is an amortization-related term used to spread the cost, discount, premium, or carrying amount of an item over time.
The Accountant's Dictionary
• accounting, finance
annuity in arrears
annuity in arrears is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
APB
APB stands for the Accounting Principles Board, a former U.S. standard-setting body that preceded FASB.
The Accountant's Dictionary
• accounting, finance
appropriated retained earnings
appropriated retained earnings is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
ARB
ARB stands for Accounting Research Bulletin, an older U.S. accounting guidance publication.
The Accountant's Dictionary
• accounting, finance
arm's length transaction
arm's length transaction is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
arrears
arrears is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
articles of incorporation
articles of incorporation is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
authorized number of shares of stock
authorized number of shares of stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
B
bank rec
bank rec is a reconciliation term used to compare internal accounting records with external balances or supporting documents.
The Accountant's Dictionary
• accounting, finance, cash-flow
bank service charge expense
bank service charge expense is an expense account used to record the cost of a specific activity, resource, service, or obligation during an accounting period.
The Accountant's Dictionary
• accounting, finance, cash-flow
bank statement
bank statement is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance, cash-flow
bank statement reconciliation
bank statement reconciliation is a reconciliation term used to compare internal accounting records with external balances or supporting documents.
The Accountant's Dictionary
• accounting, finance, cash-flow
bearer bond
bearer bond is a bond or debt-financing term used in accounting for borrowing, interest, premiums, discounts, issuance, or repayment.
The Accountant's Dictionary
• accounting, finance
blue-collar worker
blue-collar worker is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
board of directors
board of directors is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
board-designated restriction
board-designated restriction is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
boards of accountancy
boards of accountancy is an accounting term related to the classification, recording, or reporting of financial transactions within an account structure.
The Accountant's Dictionary
• accounting, finance
book value per share of stock
book value per share of stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
budget
budget is a budgeting term used to plan, compare, or control expected revenue, cost, capacity, or spending.
The Accountant's Dictionary
• accounting, finance, management-accounting
budget variance
budget variance is a budgeting term used to plan, compare, or control expected revenue, cost, capacity, or spending.
The Accountant's Dictionary
• accounting, finance, management-accounting
budgetary slack
budgetary slack is a budgeting term used to plan, compare, or control expected revenue, cost, capacity, or spending.
The Accountant's Dictionary
• accounting, finance, management-accounting
budgeted balance sheet
budgeted balance sheet is a budgeting term used to plan, compare, or control expected revenue, cost, capacity, or spending.
The Accountant's Dictionary
• accounting, finance, management-accounting
budgeted capacity
budgeted capacity is a budgeting term used to plan, compare, or control expected revenue, cost, capacity, or spending.
The Accountant's Dictionary
• accounting, finance, management-accounting
budgeted income statement
budgeted income statement is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance, management-accounting
C
Cost of Goods Sold
Cost of goods sold is the direct cost of inventory or production consumed to deliver the goods a business sells.
The Accountant's Dictionary
• inventory, margin, gross profit
Chart of Accounts
A chart of accounts is the structured list of ledger accounts the business uses to classify transactions consistently for reporting and control.
The Accountant's Dictionary
• accounting, finance, gl-structure
Credit Memo
A credit memo is a document that reduces the amount a customer owes or the amount payable to a supplier.
The Accountant's Dictionary
• ar, ap, invoice corrections
callable preferred stock
callable preferred stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
capital budgeting
capital budgeting is a budgeting term used to plan, compare, or control expected revenue, cost, capacity, or spending.
The Accountant's Dictionary
• accounting, finance, management-accounting
capital maintenance approach in determining net income
capital maintenance approach in determining net income is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
capital maintenance approach to net income
capital maintenance approach to net income is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
capital market
capital market is an equity or capital term used to describe ownership interest, retained resources, or the financing structure of a business.
The Accountant's Dictionary
• accounting, finance
capital stock
capital stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
carrying amount
carrying amount is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
carrying cost of inventory
carrying cost of inventory is an inventory classification or inventory account used to measure goods, materials, or stock held for use, production, or sale.
The Accountant's Dictionary
• accounting, finance, inventory
carrying value
carrying value is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
check printing charges
check printing charges is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
Circular E
Circular E is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
clear
clear is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
cleared
cleared is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
clearing account
clearing account is an accounting term related to the classification, recording, or reporting of financial transactions within an account structure.
The Accountant's Dictionary
• accounting, finance
COGS
COGS, or cost of goods sold, is the direct cost assigned to the goods or services delivered to customers during the reporting period.
The Accountant's Dictionary
• accounting, finance, inventory
common stock
common stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
common stock account
common stock account is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
common stock dividend distributable
common stock dividend distributable is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
common-size financial statement
common-size financial statement is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
common-size income statement
common-size income statement is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
comparability
comparability is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
comparative balance sheet
comparative balance sheet is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
comparative financial statements
comparative financial statements is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
comparative income statement
comparative income statement is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
comprehensive income
comprehensive income is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
condensed income statement
condensed income statement is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
constant-dollar
constant-dollar is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
contingent liability
contingent liability is a liability-related term used to describe an obligation the business owes to another party.
The Accountant's Dictionary
• accounting, finance
continuous budget
continuous budget is a budgeting term used to plan, compare, or control expected revenue, cost, capacity, or spending.
The Accountant's Dictionary
• accounting, finance, management-accounting
contra liability account
contra liability account is a liability-related term used to describe an obligation the business owes to another party.
The Accountant's Dictionary
• accounting, finance
contribution approach income statement
contribution approach income statement is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
contribution margin
contribution margin is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance, management-accounting
contribution margin per unit
contribution margin per unit is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance, management-accounting
contribution margin ratio
contribution margin ratio is a financial ratio used to measure or evaluate a specific aspect of liquidity, profitability, efficiency, leverage, or performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
convertible preferred stock
convertible preferred stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
cost method of recording treasury stock
cost method of recording treasury stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance, management-accounting
cost of carrying inventory
cost of carrying inventory is an inventory classification or inventory account used to measure goods, materials, or stock held for use, production, or sale.
The Accountant's Dictionary
• accounting, finance, inventory
cost of sales
Cost of sales is the direct cost matched to revenue and is often used interchangeably with cost of goods sold depending on industry and reporting style.
The Accountant's Dictionary
• accounting, finance, cost-of-sales
cumulative preferred stock
cumulative preferred stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
current assets
Current assets are assets expected to be converted into cash, sold, or used within the next twelve months or operating cycle.
The Accountant's Dictionary
• accounting, finance, liquidity
current liabilities
Current liabilities are obligations due within the next twelve months or operating cycle.
The Accountant's Dictionary
• accounting, finance, liquidity
current ratio
Current ratio measures short-term liquidity by comparing current assets to current liabilities.
The Accountant's Dictionary
• accounting, finance, ratios
current year's net income
current year's net income is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
D
debit card
debit card is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
declaration date
declaration date is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
deferred charge
deferred charge is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
deferred revenues
Deferred revenue, also called unearned revenue, is the liability created when a customer pays before the business has delivered the promised goods or services.
The Accountant's Dictionary
• accounting, finance, revenue-recognition
departmental overhead rate
departmental overhead rate is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
dependent variable
dependent variable is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
depreciation - sum of the years' digits
depreciation - sum of the years' digits is a depreciation-related term used to allocate the cost of a long-lived asset over its useful life.
The Accountant's Dictionary
• accounting, finance
differential revenue
differential revenue is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
direct labor efficiency variance
direct labor efficiency variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
direct labor price variance
direct labor price variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
direct labor quantity variance
direct labor quantity variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
direct labor rate variance
direct labor rate variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
direct labor usage variance
direct labor usage variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
direct materials efficiency variance
direct materials efficiency variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, inventory
direct materials price variance
direct materials price variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, inventory
direct materials quantity variance
direct materials quantity variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, inventory
direct materials usage variance
direct materials usage variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, inventory
dividend
dividend is a dividend-related term used to describe the declaration, payment, priority, or reporting of distributions to owners.
The Accountant's Dictionary
• accounting, finance
dividend declaration date
dividend declaration date is a dividend-related term used to describe the declaration, payment, priority, or reporting of distributions to owners.
The Accountant's Dictionary
• accounting, finance
dividend payment date
dividend payment date is a dividend-related term used to describe the declaration, payment, priority, or reporting of distributions to owners.
The Accountant's Dictionary
• accounting, finance
dividend yield
dividend yield is a dividend-related term used to describe the declaration, payment, priority, or reporting of distributions to owners.
The Accountant's Dictionary
• accounting, finance
dividends declared
dividends declared is a dividend-related term used to describe the declaration, payment, priority, or reporting of distributions to owners.
The Accountant's Dictionary
• accounting, finance
dividends in arrears
dividends in arrears is a dividend-related term used to describe the declaration, payment, priority, or reporting of distributions to owners.
The Accountant's Dictionary
• accounting, finance
dollar-value LIFO retail method
dollar-value LIFO retail method is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance, inventory
dollar-value retail method
dollar-value retail method is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
downward demand spiral
downward demand spiral is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
E
EBITDA
EBITDA means earnings before interest, taxes, depreciation, and amortization and is a widely used measure of operating performance before financing and non-cash accounting effects.
The Accountant's Dictionary
• accounting, finance, management-reporting
early payment discount
early payment discount is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
earned
earned is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
earnings per share (EPS)
earnings per share (EPS) is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
earnings quality
earnings quality is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
effective interest rate method of amortization
effective interest rate method of amortization is an amortization-related term used to spread the cost, discount, premium, or carrying amount of an item over time.
The Accountant's Dictionary
• accounting, finance
efficiency variance
efficiency variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
EOM
EOM usually means end of month in payment terms, billing schedules, and settlement arrangements.
The Accountant's Dictionary
• accounting, finance
EPS
EPS stands for earnings per share, a measure of profit attributable to each outstanding share of common stock.
The Accountant's Dictionary
• accounting, finance
ex-dividend
ex-dividend is a dividend-related term used to describe the declaration, payment, priority, or reporting of distributions to owners.
The Accountant's Dictionary
• accounting, finance
exchange of dissimilar nonmonetary assets
exchange of dissimilar nonmonetary assets is an asset-related term used to describe a resource controlled by the business that is expected to provide future economic benefit.
The Accountant's Dictionary
• accounting, finance
exchange of similar nonmonetary assets
exchange of similar nonmonetary assets is an asset-related term used to describe a resource controlled by the business that is expected to provide future economic benefit.
The Accountant's Dictionary
• accounting, finance
extraordinary repair
extraordinary repair is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
F
Fixed Assets
Fixed assets are long-term tangible assets used in the business over more than one reporting period, such as equipment, vehicles, furniture, and buildings.
The Accountant's Dictionary
• accounting, finance, fixed-assets
Fiscal Year
A fiscal year is the 12-month financial reporting period a business uses for budgeting, accounting, and statutory reporting.
The Accountant's Dictionary
• reporting period, financial close, budgeting
FAF
FAF stands for the Financial Accounting Foundation, the body that oversees FASB and related standard-setting activities.
The Accountant's Dictionary
• accounting, finance
fair market value
fair market value is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
FAS
FAS refers to Financial Accounting Standards issued under prior U.S. accounting guidance frameworks.
The Accountant's Dictionary
• accounting, finance
FASB
FASB stands for the Financial Accounting Standards Board, the primary U.S. accounting standard-setting body.
The Accountant's Dictionary
• accounting, finance, compliance
FASB statements of financial accounting standards
FASB statements of financial accounting standards is an accounting term related to the classification, recording, or reporting of financial transactions within an account structure.
The Accountant's Dictionary
• accounting, finance, compliance
favorable variance
favorable variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
fees earned
fees earned is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
FICA
FICA stands for the Federal Insurance Contributions Act, the U.S. payroll tax system funding Social Security and Medicare.
The Accountant's Dictionary
• accounting, finance, payroll
FICA expense: warehouse
FICA expense: warehouse is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance, payroll
FIFO
FIFO stands for first in, first out, a cost flow assumption where the earliest inventory costs are assigned first.
The Accountant's Dictionary
• accounting, finance, inventory
Financial Accounting Standards Board (FASB)
Financial Accounting Standards Board (FASB) is an accounting term related to the classification, recording, or reporting of financial transactions within an account structure.
The Accountant's Dictionary
• accounting, finance, compliance
fixed manufacturing overhead budget variance
fixed manufacturing overhead budget variance is a budgeting term used to plan, compare, or control expected revenue, cost, capacity, or spending.
The Accountant's Dictionary
• accounting, finance, management-accounting
fixed manufacturing overhead volume variance
fixed manufacturing overhead volume variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
fixed overhead budget variance
fixed overhead budget variance is a budgeting term used to plan, compare, or control expected revenue, cost, capacity, or spending.
The Accountant's Dictionary
• accounting, finance, management-accounting
fixed overhead spending variance
fixed overhead spending variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
flexible budget
flexible budget is a budgeting term used to plan, compare, or control expected revenue, cost, capacity, or spending.
The Accountant's Dictionary
• accounting, finance, management-accounting
FOB
FOB stands for free on board and defines the point at which shipping ownership and risk transfer.
The Accountant's Dictionary
• accounting, finance
free cash flow per share
free cash flow per share is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance, cash-flow
free on board (FOB)
free on board (FOB) is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
funds flow statement
funds flow statement is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
future value of an ordinary annuity
future value of an ordinary annuity is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
G
General Ledger
The general ledger is the central accounting record that stores summarized financial activity by account across the entire business.
The Accountant's Dictionary
• accounting, finance, general-ledger
Gross Margin
Gross margin is the percentage of revenue remaining after deducting cost of goods sold or direct cost of sales.
The Accountant's Dictionary
• accounting, finance, gross-margin
GAAP
GAAP stands for generally accepted accounting principles, the formal accounting framework used primarily in the United States for financial reporting and disclosure.
The Accountant's Dictionary
• accounting, finance, compliance
garnishment
garnishment is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
garnishment payable
garnishment payable is a liability account that records an amount owed by the business that remains unpaid at the reporting date.
The Accountant's Dictionary
• accounting, finance, cash-flow
general ledger account
general ledger account is a ledger-related term used to organize, summarize, and report account activity or balances.
The Accountant's Dictionary
• accounting, finance
generally accepted accounting principles (GAAP)
Generally accepted accounting principles, or GAAP, are the formal accounting standards and conventions used primarily in the United States.
The Accountant's Dictionary
• accounting, finance, compliance
gross profit
Gross profit is revenue minus cost of goods sold or direct cost of sales, before operating expenses are deducted.
The Accountant's Dictionary
• accounting, finance, gross-profit
gross salaries
gross salaries is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
H
health insurance expense: warehouse
health insurance expense: warehouse is an insurance-related accounting term used to record premiums, liabilities, expense recognition, or benefit protection.
The Accountant's Dictionary
• accounting, finance
holiday, vacation, sick days expense: warehouse
holiday, vacation, sick days expense: warehouse is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
I
IASB
IASB stands for the International Accounting Standards Board, the body that issues IFRS accounting standards.
The Accountant's Dictionary
• accounting, finance
IFRS
IFRS stands for International Financial Reporting Standards, the global accounting framework used in many countries for statutory and external financial reporting.
The Accountant's Dictionary
• accounting, finance, compliance
income summary account
income summary account is an accounting term related to the classification, recording, or reporting of financial transactions within an account structure.
The Accountant's Dictionary
• accounting, finance
incremental revenue
incremental revenue is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
independent variable
independent variable is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
interest earned
interest earned is a financing term used to account for borrowing, lending, interest accrual, repayment, or debt structure.
The Accountant's Dictionary
• accounting, finance
interest income
interest income is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
interest revenues
interest revenues is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
interim financial statement
interim financial statement is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
International Accounting Standards Board (IASB)
International Accounting Standards Board (IASB) is an accounting term related to the classification, recording, or reporting of financial transactions within an account structure.
The Accountant's Dictionary
• accounting, finance
International Financial Reporting Standards (IFRS)
International Financial Reporting Standards, or IFRS, are the global accounting standards used in many jurisdictions for external reporting.
The Accountant's Dictionary
• accounting, finance, compliance
inventory carrying costs
inventory carrying costs is a cost accounting term used to measure, assign, analyze, or control the cost of operations, inventory, or production.
The Accountant's Dictionary
• accounting, finance, inventory
investment revenues
investment revenues is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
L
labor efficiency variance
labor efficiency variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
labor rate variance
labor rate variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
labor variances
labor variances is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
LCM
LCM stands for lower of cost or market, an older inventory valuation rule used in some accounting contexts.
The Accountant's Dictionary
• accounting, finance
learning curve
learning curve is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
least-squares regression method
least-squares regression method is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
ledger
ledger is a ledger-related term used to organize, summarize, and report account activity or balances.
The Accountant's Dictionary
• accounting, finance
liabilities
liabilities is a liability-related term used to describe an obligation the business owes to another party.
The Accountant's Dictionary
• accounting, finance
LIFO
LIFO stands for last in, first out, a cost flow assumption where the most recent inventory costs are assigned first.
The Accountant's Dictionary
• accounting, finance, inventory
limited liability company
limited liability company is a liability-related term used to describe an obligation the business owes to another party.
The Accountant's Dictionary
• accounting, finance
linear programming
linear programming is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
loan amortization schedule
loan amortization schedule is an amortization-related term used to spread the cost, discount, premium, or carrying amount of an item over time.
The Accountant's Dictionary
• accounting, finance
long-term liabilities
long-term liabilities is a liability-related term used to describe an obligation the business owes to another party.
The Accountant's Dictionary
• accounting, finance
lower of cost or market
lower of cost or market is a cost accounting term used to measure, assign, analyze, or control the cost of operations, inventory, or production.
The Accountant's Dictionary
• accounting, finance, management-accounting
M
margin of safety
margin of safety is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance, management-accounting
marginal cost
marginal cost is a cost accounting term used to measure, assign, analyze, or control the cost of operations, inventory, or production.
The Accountant's Dictionary
• accounting, finance, management-accounting
marginal revenue
marginal revenue is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance, management-accounting
markdown
markdown is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
markdown cancellation
markdown cancellation is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
market interest rate
market interest rate is a financing term used to account for borrowing, lending, interest accrual, repayment, or debt structure.
The Accountant's Dictionary
• accounting, finance
market share
market share is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
marketable debt securities
marketable debt securities is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance, compliance
marketable equity securities
marketable equity securities is an equity or capital term used to describe ownership interest, retained resources, or the financing structure of a business.
The Accountant's Dictionary
• accounting, finance, compliance
marketable securities
marketable securities is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance, compliance
markup
markup is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
markup cancellation
markup cancellation is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
Mary Smith, Capital
Mary Smith, Capital is an owner's equity or partner capital account used to record ownership interest for Mary Smith.
The Accountant's Dictionary
• accounting, finance
Mary Smith, Drawing
Mary Smith, Drawing is an owner's drawing account used to record withdrawals made by Mary Smith from the business.
The Accountant's Dictionary
• accounting, finance
materials price variance
materials price variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, inventory
materials quantity variance
materials quantity variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, inventory
materials usage variance
materials usage variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, inventory
Matt Jones, Current year net income
Matt Jones, Current year net income is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
Medicare tax
Medicare tax is the U.S. payroll tax withheld to fund the Medicare healthcare program.
The Accountant's Dictionary
• accounting, finance, payroll
MICR
MICR stands for magnetic ink character recognition, the banking technology used to read printed cheque information.
The Accountant's Dictionary
• accounting, finance
mid-year convention
mid-year convention is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
monetary asset
monetary asset is an asset-related term used to describe a resource controlled by the business that is expected to provide future economic benefit.
The Accountant's Dictionary
• accounting, finance
monetary unit assumption
monetary unit assumption is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
money market account
money market account is an accounting term related to the classification, recording, or reporting of financial transactions within an account structure.
The Accountant's Dictionary
• accounting, finance
multicollinearity
multicollinearity is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
multiple-step income statement
multiple-step income statement is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
N
natural business year
natural business year is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
net carrying amount
net carrying amount is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
net income available for common stock
net income available for common stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
no-par value stock
no-par value stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
noncumulative preferred stock
noncumulative preferred stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
noncurrent liabilities
noncurrent liabilities is a liability-related term used to describe an obligation the business owes to another party.
The Accountant's Dictionary
• accounting, finance
nonmonetary asset
nonmonetary asset is an asset-related term used to describe a resource controlled by the business that is expected to provide future economic benefit.
The Accountant's Dictionary
• accounting, finance
nonparticipating preferred stock
nonparticipating preferred stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
O
omitted dividends on preferred stock
omitted dividends on preferred stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
operating income
Operating income is profit earned from core business operations before interest, taxes, and certain non-operating items are considered.
The Accountant's Dictionary
• accounting, finance, operating-performance
ordinary annuity
ordinary annuity is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
ordinary repairs
ordinary repairs is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance, compliance
organization chart
organization chart is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
other current liabilities
other current liabilities is a liability-related term used to describe an obligation the business owes to another party.
The Accountant's Dictionary
• accounting, finance
outstanding shares of common stock
outstanding shares of common stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
overhead variances
overhead variances is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
owner's (stockholders') equity
owner's (stockholders') equity is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
owner's capital account - beg of year
owner's capital account - beg of year is an equity or capital term used to describe ownership interest, retained resources, or the financing structure of a business.
The Accountant's Dictionary
• accounting, finance
P
Profit and Loss Statement
A profit and loss statement summarizes revenue, costs, and expenses to show whether the business made a profit or loss.
The Accountant's Dictionary
• financial statements, income statement, profitability
P & L
P & L stands for profit and loss statement, the financial statement that summarizes revenue, expenses, and profit.
The Accountant's Dictionary
• accounting, finance
paid-in capital from treasury stock
paid-in capital from treasury stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
paid-in capital in excess of par value
paid-in capital in excess of par value is an equity or capital term used to describe ownership interest, retained resources, or the financing structure of a business.
The Accountant's Dictionary
• accounting, finance
paid-in capital in excess of par value - common stock
paid-in capital in excess of par value - common stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
paid-in capital in excess of par value - preferred stock
paid-in capital in excess of par value - preferred stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
paid-in capital in excess of stated value - common stock
paid-in capital in excess of stated value - common stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
par value
par value is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
par value of bonds
par value of bonds is a bond or debt-financing term used in accounting for borrowing, interest, premiums, discounts, issuance, or repayment.
The Accountant's Dictionary
• accounting, finance
par value of common stock
par value of common stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
par value of preferred stock
par value of preferred stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
participating preferred stock
participating preferred stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
partnership
partnership is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
PCAOB
PCAOB stands for the Public Company Accounting Oversight Board, the regulator that oversees audits of public companies in the United States.
The Accountant's Dictionary
• accounting, finance, compliance
POS
POS stands for point of sale, the place and system where customer transactions are completed.
The Accountant's Dictionary
• accounting, finance
post-closing trial balance
A post-closing trial balance is the balance report prepared after closing entries are posted, showing the accounts that carry forward into the next period.
The Accountant's Dictionary
• accounting, finance, reporting
preferred stock
preferred stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
preferred stock $100 par
preferred stock $100 par is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
preferred stock account
preferred stock account is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
premium on common stock
premium on common stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
premium on preferred stock
premium on preferred stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
present value of an ordinary annuity
present value of an ordinary annuity is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
present value of an ordinary annuity table
present value of an ordinary annuity table is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
price earnings ratio
price earnings ratio is a financial ratio used to measure or evaluate a specific aspect of liquidity, profitability, efficiency, leverage, or performance.
The Accountant's Dictionary
• accounting, finance
price variance
price variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
primary activities
primary activities is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
pro forma financial statement
pro forma financial statement is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
pro forma income
pro forma income is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
product warranty cost
product warranty cost is a cost accounting term used to measure, assign, analyze, or control the cost of operations, inventory, or production.
The Accountant's Dictionary
• accounting, finance, management-accounting
production department
production department is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
production service department
production service department is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
production volume variance
production volume variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
profit margin
profit margin is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance, management-accounting
property dividend
property dividend is a dividend-related term used to describe the declaration, payment, priority, or reporting of distributions to owners.
The Accountant's Dictionary
• accounting, finance
Public Company Accounting Oversight Board (PCAOB)
Public Company Accounting Oversight Board (PCAOB) is an accounting term related to the classification, recording, or reporting of financial transactions within an account structure.
The Accountant's Dictionary
• accounting, finance, compliance
publicly traded stock
publicly traded stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
Q
qualitative characteristics
qualitative characteristics is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
quality of earnings
quality of earnings is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
quantity variance
quantity variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
quarterly earnings
quarterly earnings is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
QuickBooks
QuickBooks is accounting software used by many businesses for bookkeeping, invoicing, payroll, and reporting.
The Accountant's Dictionary
• accounting, finance
R
R & D
R & D stands for research and development, the activities undertaken to create or improve products, services, or processes.
The Accountant's Dictionary
• accounting, finance
r squared
R squared is a statistical measure that shows how much of the variation in a dependent variable is explained by a model.
The Accountant's Dictionary
• accounting, finance
R. Smith, Capital at Beginning of Year
R. Smith, Capital at Beginning of Year is an equity or capital term used to describe ownership interest, retained resources, or the financing structure of a business.
The Accountant's Dictionary
• accounting, finance
R. Smith, Current Year Net Income
R. Smith, Current Year Net Income is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
reconciliation of bank statement
reconciliation of bank statement is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance, cash-flow
reliability
reliability is a liability-related term used to describe an obligation the business owes to another party.
The Accountant's Dictionary
• accounting, finance
research and development costs
research and development costs is a cost accounting term used to measure, assign, analyze, or control the cost of operations, inventory, or production.
The Accountant's Dictionary
• accounting, finance, management-accounting
restricted retained earnings
restricted retained earnings is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
retained earnings
Retained earnings are the cumulative profits of the business that have been kept in the company rather than distributed to owners.
The Accountant's Dictionary
• accounting, finance, equity
retained earnings statement
retained earnings statement is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
return on average common stockholders' equity
return on average common stockholders' equity is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
return on stockholders' equity
return on stockholders' equity is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
revenues from service charges
revenues from service charges is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
ROCE
ROCE stands for return on capital employed, a profitability ratio that evaluates earnings relative to capital used in the business.
The Accountant's Dictionary
• accounting, finance
rolling budget
rolling budget is a budgeting term used to plan, compare, or control expected revenue, cost, capacity, or spending.
The Accountant's Dictionary
• accounting, finance, management-accounting
rolling horizon budget
rolling horizon budget is a budgeting term used to plan, compare, or control expected revenue, cost, capacity, or spending.
The Accountant's Dictionary
• accounting, finance, management-accounting
S
safety stock
safety stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
salaried employee
salaried employee is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
salaries expense
salaries expense is an expense account used to record the cost of a specific activity, resource, service, or obligation during an accounting period.
The Accountant's Dictionary
• accounting, finance
salaries expense: delivery department
salaries expense: delivery department is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
salaries expense: selling & admin department
salaries expense: selling & admin department is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
salaries payable
salaries payable is a liability account that records an amount owed by the business that remains unpaid at the reporting date.
The Accountant's Dictionary
• accounting, finance, cash-flow
salary
salary is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance, payroll
salary and fringes
salary and fringes is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance, payroll
sales revenues
sales revenues is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
SEC
SEC stands for the Securities and Exchange Commission, the U.S. regulator for securities markets and public-company reporting.
The Accountant's Dictionary
• accounting, finance, compliance
secondary activities
secondary activities is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance, compliance
semivariable costs
semivariable costs is a cost accounting term used to measure, assign, analyze, or control the cost of operations, inventory, or production.
The Accountant's Dictionary
• accounting, finance, management-accounting
semivariable expenses
semivariable expenses is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
separation of duties
separation of duties is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
service charge revenues
service charge revenues is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
service department
service department is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
service mark
service mark is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
service revenues
service revenues is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
SFAS
SFAS stands for Statement of Financial Accounting Standards, the older formal designation for many FASB standards.
The Accountant's Dictionary
• accounting, finance
shareholder
shareholder is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
shareholders' equity
shareholders' equity is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
short-term liability
short-term liability is a liability-related term used to describe an obligation the business owes to another party.
The Accountant's Dictionary
• accounting, finance
single-step income statement
single-step income statement is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
spending variance
spending variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
standard cost
standard cost is a cost accounting term used to measure, assign, analyze, or control the cost of operations, inventory, or production.
The Accountant's Dictionary
• accounting, finance, management-accounting
standard cost per unit of input
standard cost per unit of input is a cost accounting term used to measure, assign, analyze, or control the cost of operations, inventory, or production.
The Accountant's Dictionary
• accounting, finance, management-accounting
standard cost per unit of product
standard cost per unit of product is a cost accounting term used to measure, assign, analyze, or control the cost of operations, inventory, or production.
The Accountant's Dictionary
• accounting, finance, management-accounting
standard cost system
standard cost system is a cost accounting term used to measure, assign, analyze, or control the cost of operations, inventory, or production.
The Accountant's Dictionary
• accounting, finance, management-accounting
standard cost variances
standard cost variances is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
standard costing
standard costing is a cost accounting term used to measure, assign, analyze, or control the cost of operations, inventory, or production.
The Accountant's Dictionary
• accounting, finance, management-accounting
state boards of accountancy
state boards of accountancy is an accounting term related to the classification, recording, or reporting of financial transactions within an account structure.
The Accountant's Dictionary
• accounting, finance
statement of activities
statement of activities is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
statement of comprehensive income
statement of comprehensive income is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
statement of financial accounting standards
statement of financial accounting standards is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
statement of financial position
statement of financial position is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
statement of functional expenses
statement of functional expenses is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
statement of income
statement of income is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
statement of operations
statement of operations is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
statement of retained earnings
statement of retained earnings is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
statement of stockholders' equity
statement of stockholders' equity is a formal financial statement or reporting document used to summarize financial position, performance, or cash movement.
The Accountant's Dictionary
• accounting, finance
static budget
static budget is a budgeting term used to plan, compare, or control expected revenue, cost, capacity, or spending.
The Accountant's Dictionary
• accounting, finance, management-accounting
stock certificate
stock certificate is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance, payroll
stock dividend
stock dividend is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
stock option
stock option is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
stock split
stock split is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
stockholder
stockholder is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
stockholders' equity
stockholders' equity is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
straight-line method of amortization
straight-line method of amortization is an amortization-related term used to spread the cost, discount, premium, or carrying amount of an item over time.
The Accountant's Dictionary
• accounting, finance
subsidiary accounts
subsidiary accounts is an accounting term related to the classification, recording, or reporting of financial transactions within an account structure.
The Accountant's Dictionary
• accounting, finance
subsidiary ledger
subsidiary ledger is a ledger-related term used to organize, summarize, and report account activity or balances.
The Accountant's Dictionary
• accounting, finance
sum-of-the-years' digits (SYD) method of depreciation
sum-of-the-years' digits (SYD) method of depreciation is a depreciation-related term used to allocate the cost of a long-lived asset over its useful life.
The Accountant's Dictionary
• accounting, finance
SYD depreciation method
SYD depreciation method means the sum-of-the-years'-digits method, an accelerated depreciation technique.
The Accountant's Dictionary
• accounting, finance
T
target interest rate
target interest rate is a financing term used to account for borrowing, lending, interest accrual, repayment, or debt structure.
The Accountant's Dictionary
• accounting, finance
temporarily restricted net assets
temporarily restricted net assets is an asset-related term used to describe a resource controlled by the business that is expected to provide future economic benefit.
The Accountant's Dictionary
• accounting, finance
temporary accounts
temporary accounts is an accounting term related to the classification, recording, or reporting of financial transactions within an account structure.
The Accountant's Dictionary
• accounting, finance
temporary help expense
temporary help expense is an expense account used to record the cost of a specific activity, resource, service, or obligation during an accounting period.
The Accountant's Dictionary
• accounting, finance
temporary investments
temporary investments is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
temporary marketable securities
temporary marketable securities is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance, compliance
temporary service expense
temporary service expense is an expense account used to record the cost of a specific activity, resource, service, or obligation during an accounting period.
The Accountant's Dictionary
• accounting, finance
times interest earned
times interest earned is a financing term used to account for borrowing, lending, interest accrual, repayment, or debt structure.
The Accountant's Dictionary
• accounting, finance
trade-in of similar asset
trade-in of similar asset is an asset-related term used to describe a resource controlled by the business that is expected to provide future economic benefit.
The Accountant's Dictionary
• accounting, finance
trademark
trademark is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
transaction approach to determining net income
transaction approach to determining net income is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
treasury stock
treasury stock is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
U
U.S. treasury bills
U.S. Treasury bills are short-term government securities issued at a discount and maturing in one year or less.
The Accountant's Dictionary
• accounting, finance
U.S. treasury bonds
U.S. Treasury bonds are long-term government debt securities with fixed interest payments and maturities greater than ten years.
The Accountant's Dictionary
• accounting, finance
U.S. treasury notes
U.S. Treasury notes are medium-term government debt securities with fixed interest payments and maturities generally between two and ten years.
The Accountant's Dictionary
• accounting, finance
UBIT
UBIT stands for unrelated business income tax, a tax imposed on qualifying income earned by tax-exempt entities from unrelated business activities.
The Accountant's Dictionary
• accounting, finance
unadjusted trial balance
An unadjusted trial balance is the ledger balance report prepared before period-end adjusting entries have been recorded.
The Accountant's Dictionary
• accounting, finance, reporting
unappropriated retained earnings
unappropriated retained earnings is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
uncleared check
uncleared check is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
uncleared cheque
uncleared cheque is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
unearned premium revenue
unearned premium revenue is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
unearned revenue(s)
unearned revenue(s) is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
unemployment tax expense: warehouse
unemployment tax expense: warehouse is a tax-related term used in accounting, reporting, payroll, compliance, or statutory calculations.
The Accountant's Dictionary
• accounting, finance, compliance
unfavorable variance
unfavorable variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
Uniform CPA Exam
The Uniform CPA Exam is the standardized professional exam used in the United States for CPA licensure.
The Accountant's Dictionary
• accounting, finance
US GAAP
US GAAP is the United States accounting standards framework used to prepare compliant external financial statements.
The Accountant's Dictionary
• accounting, finance, compliance
usage variance
usage variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
V
variable cost
variable cost is a cost accounting term used to measure, assign, analyze, or control the cost of operations, inventory, or production.
The Accountant's Dictionary
• accounting, finance, management-accounting
variable cost rate
variable cost rate is a cost accounting term used to measure, assign, analyze, or control the cost of operations, inventory, or production.
The Accountant's Dictionary
• accounting, finance, management-accounting
variable cost ratio
variable cost ratio is a financial ratio used to measure or evaluate a specific aspect of liquidity, profitability, efficiency, leverage, or performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
variable costing
variable costing is a cost accounting term used to measure, assign, analyze, or control the cost of operations, inventory, or production.
The Accountant's Dictionary
• accounting, finance, management-accounting
variable expenses
variable expenses is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
variable manufacturing overhead applied
variable manufacturing overhead applied is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
variable manufacturing overhead cost
variable manufacturing overhead cost is a cost accounting term used to measure, assign, analyze, or control the cost of operations, inventory, or production.
The Accountant's Dictionary
• accounting, finance, management-accounting
variable manufacturing overhead efficiency variance
variable manufacturing overhead efficiency variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
variable manufacturing overhead incurred
variable manufacturing overhead incurred is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
variable manufacturing overhead spending variance
variable manufacturing overhead spending variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
variable overhead efficiency variance
variable overhead efficiency variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
variable overhead spending variance
variable overhead spending variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
variance
variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
variance analysis
variance analysis is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
variance reports
variance reports is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
vendors
Vendors are suppliers that provide goods or services to the business and are managed through procurement and accounts payable processes.
The Accountant's Dictionary
• accounting, finance, cash-flow
volume variance
volume variance is a variance-analysis term used to compare actual results with standards, budgets, or expected performance.
The Accountant's Dictionary
• accounting, finance, management-accounting
W
wages expense: delivery department
wages expense: delivery department is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance, payroll
wages expense: warehouse department
wages expense: warehouse department is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance, payroll
warranties
warranties is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
warranty expense
warranty expense is an expense account used to record the cost of a specific activity, resource, service, or obligation during an accounting period.
The Accountant's Dictionary
• accounting, finance
warranty liability
warranty liability is a liability-related term used to describe an obligation the business owes to another party.
The Accountant's Dictionary
• accounting, finance
warranty payable
warranty payable is a liability account that records an amount owed by the business that remains unpaid at the reporting date.
The Accountant's Dictionary
• accounting, finance, cash-flow
weighted-average number of shares of stock outstanding
weighted-average number of shares of stock outstanding is an equity or share-capital term used in corporate ownership, stockholder reporting, or capital structure accounting.
The Accountant's Dictionary
• accounting, finance
white-collar worker
white-collar worker is an accounting, finance, or reporting term used to classify, measure, record, analyze, or communicate business transactions and financial results.
The Accountant's Dictionary
• accounting, finance
WIP
WIP stands for work-in-process inventory, the partially completed goods in production.
The Accountant's Dictionary
• accounting, finance, inventory
Y
year-to-date net income
year-to-date net income is a revenue or income concept used to describe earnings recognized from business activity, financing, or other sources.
The Accountant's Dictionary
• accounting, finance
Z
zero-based budgeting
zero-based budgeting is a budgeting term used to plan, compare, or control expected revenue, cost, capacity, or spending.
The Accountant's Dictionary
• accounting, finance, management-accounting