ACCOUNTING TERM GLOSSARY

Accounting (Financial)

Accounting Careers & Certifications

Accounting Cycle

Accounting Equation

Accounts

Accounts Payable

Accounts Receivable

Account Payable Aging

Accounts Receivable Aging

Accrual basis of accounting

Accrued Interest

Accrued Liabilities

Accrued Payroll

Accumulated Amortization

Accumulated Depreciation

Accumulated Other Comprehensive Income

Additional Paid in Capital

Adjusted Trial Balance

Adjusting Journal Entries

Advertising Expense

AICPA

Allowance method for bad debt

Allowances for doubtful accounts

Amortization

Annuities

Assets

Bad Debt Expense

Balance Sheet

Bank Reconciliation

Bonds

Calendar Year-End

Capital

Capital Expenditures

Capitalization

Carrying Book Value

Cash and Cash Equivalents

Cash Basis of Accounting

Cash Dividends

Cash Flow

Cash Payments

Cash Receipts

Closing Process

Common Stock

Compound Interest

Consignment Inventory

Contra-Accounts

Contracts

Contributed Capital

Corporate Bonds

Corporations

Cost of Goods Sold

Cost Principle

Certified Public Accountant

Credit

Credit Balance

Creditors

Current Assets

Current Liabilities

Current Ratio

Debit

Debit Balances

Debt

Deferred Expenses

Deferred Income Tax

Deferred Revenue

Depreciation

Direct Write-Off Method

Discontinued Operations

Dividends

Double-entry Accounting System

Earnings Per Share

Equipment

Equity

Expanded Accounting Equation

Expenses

Expenses versus Capitalization

Financial Accounting Standards Board

Financial Statements

Finished Goods (Inventory)

 First-In First-Out Inventory Method

Fiscal Year End

Free Cash Flow

Future Value of Annuity

Generally Accepted Accounting Principles (GAAP)

Going Concern

Goods Available for Sale

Goods in Transit

Goodwill

Gross Margin

Gross Profit

Impairment

Income Statement

Income Taxes

Incurred Expenses

Interest Expense

Interest Rate

Interest Revenue

Inventory

Inventory Costing Methods

Inventory Turnover

Inventory Turnover Ratio

Investments

Inventors

Journal Entries

Journals

Land

Last In First Out Inventory Method (LIFO)

Leases

Ledger Accounts

Lessors and Lessees

Liabilities

Life Cycle of Businesses

Limited Liability Companies

Limited Liability Partnerships

Liquidity Ratios

Long-Lived Assets

Long-Term Liabilities

Lower of Cost & Net Realizable Value (Inventory)

Maintenance Expense

Margin

Matching Principle

Merchandise Inventory

Moving Average Method Inventory

Multi-step Income Statement

Net Assets

Net Book Value

Net Income

Net Loss

Net Profit Margin

Net Realizable Value

Net Sales

Net Worth

Non-Cash Assets

Non-Cash Investing and Financing Activities

Non-Current Assets

Non-Current Liabilities

Notes Payable

Notes Receivable

Net Realizable Value (NRV)

Operating Cycle

Outstanding Checks

Owner's Equity

Paid in Capital

Partial-Year Depreciation

Partnerships

Payables

Payroll Taxes

Public Company Accounting Oversight Board (PCAOB)

Price / Earnings Ratio

Percentage of Credit Sales Method

Periodic Inventory

Permanent Accounts

Perpetual Inventory

Post-Closing Trial Balance

Prepaid Expenses

Present Value

Profit

Profitability Ratios

Property, Plant, and Equipment

Public Company Accounting Oversight Board (PCAOB)

Purchase Discounts

Purchase and Return Allowance

Purchase on Account

Quarterly Reports

Ratio Analysis

Raw Material Inventory

Receivables

Receivable Turnover

Receivable Write-Off

Recording Transactions

Recovery of Bad Debt

Redemption of Preferred Stock

Reissuance of Treasury Stock

Rent

Research and Development Expenses

Residual Value

Restricted Cash

Retained Earnings

Retirement of Bonds

Return on Equity (ROE)

Return on Invested Capital (ROIC)

Revenue

Revenue Recognition

Right-of-Use Assets

Sales

Sales Discounts

Sales Returns and Allowances

Sales Tax Payable

Salvage Value

S Corporations

Secured Bonds

Securities and Exchange Commission (SEC)

Selling, General, and Administrative Expenses

Separate Entity Assumption

Shareholder

Shareholders' Equity

Single-Step Income Statement

Sole Proprietorships

Solvency Ratios

Source Documents

Statement of Cash Flow

Statement of Financial Position

Statement of Operations

Statement of Retained Earnings

Statement of Stockholders' Equity

Stocks

Stock Dividends

Stockholders

Stockholders' Equity

Straight-Line Depreciation

Straight-Line Method for Amortization

Summarizing Transactions

T-Accounts

Tangible Assets

Temporary Accounts

Term Bonds

Times Interest Earned Ratio

Time Value of Money

Transactions

Treasury Stock

Trend Analysis (Horizontal)

Trial Balance

Turnover Ratio

Unadjusted Trial Balance

Uncollectible Accounts

Unemployment Taxes

Unit of Measure Assumption

Units-of-Production Method of Depreciation

Unlimited Life of Assets

Useful Life of Assets

Vertical Analysis (Common Size)

Wages Expense

Weighted Average Inventory Costing Method

Working Capital Management

Work in Process Inventory

Write Offs

Yield Rate

Zero-Coup Bonds