accounting, financial statements

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término
definición

to reduce the value of an asset in a company\sis accounts over a period of time

direct costs
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the cost of raw materials and workers involved in making a particular product or providing a particular service

variable costs
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an amount of money used to produce goods that varies according to the quantity made

tangible assets
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a physical thing that is owned by a company or person, such as goods, machines, buildings and cash

accounts payable
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the amounts of money that a business owes to its suppliers or to people who have made loans (its creditors), shown as a liability on its balance sheet; the department of a business that deals with this

annuity system
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1 an amount of money paid to sb every year, usually for the rest of their life 2 a type of investment that you can buy from an insurance company, usually with one large amount of money, that pays an amount of money each year:

income statement
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an official financial record that gives details of all a company\sis income and expenses for a particular period and shows if it has made a profit or a loss SYN PROFIT AND LOSS ACCOUNT

the money that you make in business or by selling things, after all costs, tax, interest, etc. have been taken off:

deferred liabilities
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an amount written in a company\sis financial records which represents money that the company will pay back during a future accounting period:

matching pronciple
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the process of relating amounts of money paid and received to the accounting period in which they occur

reducing balance
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a way of reducing the value of (depreciating) an asset in a company\sis financial records in which the amount taken from the asset\sis value decreases each year. The value of the asset (its book value) is reduced by a fixed percentage each year.

scrap value
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the value of an asset at the end of its useful

straight line method
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a way of reducing the value of (depreciating) an asset in a company\sis financial records in which the value of the asset is reduced by the same amount each year. This amount is the difference between the original value of the asset and the final (residual) value, divided by a particular number of years.

unit of measure
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jednostka miary

any person or thing that is involved in producing goods or providing services:

a list of goods that have been sold, work that has been done, etc. showing what you must pay:

payroll record
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a list of people employed by a company showing the amount of money to be paid to each of them:

a written record that is used to move amounts from one financial account to another:

a book or computer file in which a bank, a business, etc. records the money it has paid and received:

trial balance
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a list of all the balances in a company\sis accounts at a particular date, used to check that debits and credits are equal and that everything has been recorded accurately

1 a person, company, country, etc. that sb/sth owes money to: 2 the amounts that a business owes to its suppliers or to people who have made loans, shown as liabilities on its balance sheet: SYN ACCOUNTS PAYABLE

the money that is received by a business usually from selling goods or services:

deduct/subtract
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to take away money, a number, etc. from a total amount:

a thing of value that a person or a company owns, such as money or property or the right to receive payment of a debt:

liabilities
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the amount of money that a company or a person owes: SYN DEBT ASSET

shareholders'/owners' equity
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a measure of the current financial value of a company, person, etc., calculated by taking current liabilities (= debts that must be paid back within a short time) away from the total assets:

current assets
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an asset that a company holds for a short period of time, including cash or sth that can easily provide cash, such as products to be sold; the value of these assets:

working capital
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the money, stocks of goods, etc. that are used to run a business, pay employees and produce and sell more goods: We may have to reduce our working capital in order to pay off some of the debts.

the act of offering shares, bonds, etc. for sale: SYN ISSUANCE

the relationship between two groups of people, things or amounts of money that is represented by two numbers or a percentage showing how much larger one group is than the other:

using borrowed money to buy an investment or to add to the amount invested, in order to try to increase possible profits from the investment:

chief accounting officer
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głowny księgowy

the person in charge of the financial department of a company NOTE The chief financial officer is often a member of a company\sis board of directors.

financial controller
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kontroler finansowy

gross sales
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the total amount of money that is received from selling goods or services before taking away money for goods returned by customers, price reductions (discounts), etc:

costs of goods sold
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the total amount of money that a business spends on obtaining and producing the goods that it sells in a particular accounting period, for example the cost of raw materials, workers, etc:

operating expenses
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one of the costs involved in running a business, such as staff pay, electricity, materials, etc:

operating profit
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the amount by which the money a business makes from its normal activities during a particular period is greater than the cost of running the business:

the amount of profit that a company makes during a particular period, without taking away the tax that it owes, the interest that it has paid to its lenders, or the amount by which its assets have become less valuable:

depreciation
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a gradual reduction in the value of machinery, a vehicle or other asset over a particular period of time, as stated in a company\sis accounts:

amortization
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the reduced cost of an asset in a company\sis accounts over a period of time, especially an intangible asset (= one you cannot touch):

retained profit/reserves/retained earnings
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the part of the profit made by a company after tax has been paid that is invested in the company rather than being paid to shareholders as dividends:

accounts receivable
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the amounts of money that are owed to a business by its customers (debtors), shown as an asset on its balance sheet; the department of a business that deals with this:

all the goods owned by a business, including raw materials, parts, work not yet finished and finished products:

fixed assets
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an item of value that a company owns and will keep, such as buildings, machinery, vehicles, shares in other companies, etc:

a thing such as a door that is fixed in a house or an office and that you do not take with you when you sell it:

intangible assets
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something that a company has and that benefits it but does not exist physically, for example a brand or the company\sis reputation:

an estimated amount of money that a business owes for goods or services that have been supplied to it but for which no request for payment has been received. This amount is recorded in the accounts at the end of the accounting period.

an amount of money that a company keeps for a particular purpose or to deal with possible problems or expenses in the future:

an amount of money that is lent or invested to earn interest:

share capital (common stock Am)
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the money that investors put into a company when they buy shares, which the company uses to continue its activities

IRS-Internal Revenue Service
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the branch of government in the US that is responsible for collecting most taxes, including income tax:

1 an amount that is taken from a bank account; a record of this: 2 an amount that is written in a company\sis financial account to show a decrease in money that the company owes or an increase in the value of its assets:

an amount that is written in a company\sis financial account to show an increase in money that the company owes or a decrease in the value of its assets:

to behave according to a particular law, rule, set of instructions, etc:

to agree:

consistency concept
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one of the principles used in accounting that says that similar items should be treated in the same way within each accounting period and from one period to the next, and that the organization\sis rules for accounting should always be followed

concept of prudence
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the principle that a company\sis financial records must not make the company seem more valuable than it might be:

accruals concept
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the rule of accounting that accrual accounting is based on:

materiality concept
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the magnitude of an omission or misstatement in an entity's financial statements that makes it probable that a reasonable person relying on those financial statements would have been influenced by the omitted information or made a different judgment if the correct information had been known.

double-entry system
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the usual way of keeping a company\sis financial records, in which each amount spent, received, etc. is recorded with a credit in one account and a debit in another. For example, if a company paid \u20AC1 000 in cash for a new computer, this amount would be recorded as a credit in the cash account and as a debit in an asset account.

true and fair picture
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in the UK, words that auditors (= people who examine the accounts of a company) use to show that they have checked a company\sis accounts and think that they give accurate information about the company\sis financial state

OBCIĄŻONY

uznanie tranzakcji

a situation in which the amount of particular goods or services that people want to buy (demand) at a particular price equals the amount that businesses want to supply (supply):

regular costs that you have when you are running a business or an organization, such as rent, electricity, wages, etc:

to officially decide that a legal decision is not correct, and to make it no longer valid:

to invest

the value of a company\sis or person\sis total assets, minus their total liabilities (= the money that they owe):

share premium
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the difference between the value stated on shares that a company issues and the higher amount it receives for them

market capitalization
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the total value of all a company\sis shares, calculated by multiplying the number of shares by their price on the stock exchange:

trading profit/gross profit
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the amount by which money received from the sale of goods or services is greater than the cost of producing or providing them. This is calculated before overheads, interest and tax are taken off:

a company that is owned or controlled by another company:

consolidated account
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to combine the financial results of a group of companies into one set of figures:

going concern
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a method of valuing an asset, a project or a business that assumes that the business will continue to operate for a long period of time:

the activity of writing figures in a book where money paid and received is recorded (a ledger); the figures written:

a person who is responsible for the money and accounts of an organization or a club:


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