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Accounting

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Accounting Powered By Docstoc
					  Your Success is my Success                             Dr. Walid Bayoumi

GLOSSARY
                                                   (A)
Abbreviation
Accelerated depreciation
Account
Accounting
Accountant
Accounting records
Accounts deemed uncollectible
Accounts receivable
Accrual basis of accounting
Accrued expenses
Accrued interest payable
Accrued interest receivable
Accumulated depreciation
Additions
Adjusting trial balance
Adjusting entries
Adjustments
Administrative expenses
Aging schedule
Allowances for doubtful (uncollectible) accounts
Assets
                                               (B)
Bad debt
Bad debts expense
Balance sheet (B/S)
Beginning inventory
Betterments
Bond
Book value
Bookkeeping
Buyer
                                               (C)
Capital
Capital assets
Capital expenditure
Carrying value
Cash
Cash on hand
Cash at bank
Cash basis of Accounting
Cash discount
Charge


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  Your Success is my Success                     Dr. Walid Bayoumi

Closing entries
Commission
Company
Contra account
Contra asset account
Contingent liability
Corporation
Copyright
Cost
Cost of goods available for sale
Cost of goods purchased
Cost of goods sold
Cost of installing and testing a machine
Credit balance
Credit memorandum (memo)
Credit period
Credit term
Creditors
Current assets
Current liabilities
Customers
Cash receipts
Cash collections
Cash payments
                                           (D)
Debit balance
Debit memorandum (memo)
Debtors
Depreciable amount
Depreciable asset
Depreciation
Depreciation expense
Disclosure
Discount
Discounting a note receivable
Discount rate
Discount period
Dishonored note
Disposal
Dissimilar assets
Drawls - drawings
Duration of note
                                           (E)
Enterprise
Ending inventory

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  Your Success is my Success                     Dr. Walid Bayoumi

Equity
Estimated useful life
Exchange of assets
Expense
Extraordinary items
                                           (F)
Face value
Fees
Financial statements
Fiscal year
Firm
Furniture
Fixtures
Fixed assets
FOB destination
FOB shipping point
Franchise
Freight-in
Freight-out

                                           (G)
General Journal
General ledger
Generally Accepted Accounting principles(GAAP)
Goodwill
Gross income
Gross Profit
                                           (H)
Historical Cost Principle
                                           (I)
Inadequacy
Income before extra-ordinary items
Income from operation
Income statement
Income summary account
Indirect expenses
Initial cost of an asset
Instructions
Insurance expense
Intangible assets
Interest rate
Inventory
Invoice



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  Your Success is my Success                 Dr. Walid Bayoumi


                                       (J)
Journal
Journal entry
                                       (L)
Land held for future use
Land improvements
Ledger
Legal fees
Lease
Liabilities
Long-term investments
Long-term liabilities
Losses
Lower-of-cost-or market method (LCM)
                                       (M)
Machines
Marketable equity securities
Market interest rate
Market value
Matching principle
Maturity value
Merchandise
Merchandise in transit
Mortgage payable
Multiple step income statement

                                       (N)
Natural resources
Net cost of purchases
Net Income
Net loss
Net Profit
Net purchases
Net realizable value
Net sales
Note
Notes receivable
Notes receivable discounted
Notes payable
                                       (O)
Obsolescence
Office salaries expense
Office supplies expense


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  Your Success is my Success            Dr. Walid Bayoumi

Operating expenses
Ordinary repairs
Organization costs
Original cost
Owner’s equity
                                  (P)
Partnership
Partner
Patent
Payee
Periodic inventory system
Perpetual inventory system
Plant and equipment
Prepaid expenses
Prepaid insurance
Prepaid rent
Proceeds
Profit
Promissory note
Single proprietorship
Purchases
Purchases discount
Purchase invoice
Purchase returns and allowances
                                  (Q)
Quantity
                                  (R)
Real accounts
Rent expense
Research and development costs
Retailer
Retained earnings (RE)
Revenue
Revenue expenditure
Revision of depreciation rates
Residual value
                                  (S)
Salaries expense
Sales
Sales discount
Sales invoice
Sales on credit
Sales returns and allowances
Sales revenue


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  Your Success is my Success                        Dr. Walid Bayoumi

Sales salaries expense
Salvage value
Service company
Schedule
Similar assets
Statement
Statement of owner’s equity
Stockholders’ equity = shareholders’ equity
Store supplies expense
Straight-line method (SLM)
Sum-of-the-years’-digits method (SYD)
Supplier
                                              (T)
Tangible assets
Taxes payable
Temporary investments
Trade receivable
Trade name
Trademark
Trade discount
Transactions
Transportation-in
Transportation-out
Trial balance
                                              (U)
Unclassified balance sheet
Unclassified income statement
Unsatisfactory merchandise
Uncollectible
                                              (V)
Value
Valuation
Volume of business
                                              (W)
Wages
Wages expense
Wages payable
Wholesaler
Withdrawals
Work sheet
Written off - write off
                                              (Y)
Yield
                                              (Z)

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  Your Success is my Success    Dr. Walid Bayoumi

Zero balance




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posted:11/3/2011
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