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401(K) PLAN  look up translate image
EMPLOYEE BENEFIT PLAN authorized by INTERNAL REVENUE CODE section 401(k), whereby an employer establishes an account for each participating employee and each participant elects to deposit a portion of his or her salary into the account. The amount deposited is not subject to income tax. This is the most common type of salary reduction plan.
If a reasonable person would conclude after considering the possibility of further undetected misstatements that the misstatement either individually or when aggregated with other misstatements would clearly be immaterial to the FINANCIAL STATEMENTS. If a reasonable person could not reach such a conclusion regarding a particular misstatement, that misstatement is more than inconsequential.

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ABATEMENT  look up translate image
Complete removal of an amount due, (usually referring to a tax ABATEMENT a penalty abatement or an INTEREST abatement within a governing agency).
ABSORPTION COSTING  look up translate image
An approach to product costing that assigns a representative portion of all types of manufacturing costs--direct materials, direct labor, variable factory overhead, and fixed factory overhead--to individual products.
ACCELERATED DEPRECIATION (phương pháp khấu hao nhanh)  look up translate image
Method that records greater DEPRECIATION than STRAIGHT-LINE DEPRECIATION in the early years and less depreciation than straight-line in the later years of an ASSET'S HOLDING PERIOD. See also: DDB, Double-Declining-Balance Depreciation Method (DDB), Straight-Line Depreciation
ACCOUNT (tài khoản)  look up translate image
Formal record that represents, in words, money or other unit of measurement, certain resources, claims to such resources, transactions or other events that result in changes to those resources and claims. See also: Non-Sufficient Funds (NSF) Check, NSF Check, Purchases, Purchases Returns and Allowances, Retained Earnings Account, Securities and Commodities Exchanges, Sell Out, Sinking Fund, Statement of Owner’s Equity, T Account, Transaction, Unearned Discount, Unrealized Loss or Gain on Long-Term Investments, With Recourse, Without Recourse, Write Off
ACCOUNT PAYABLE (tài khoản phải trả)  look up translate image
Amount owed to a CREDITOR for delivered goods or completed services. See also: Accounts Payable Subsidiary Ledger
ACCOUNT RECEIVABLE (tài khoản phải thu)  look up translate image
Claim against a DEBTOR for an uncollected amount, generally from a completed transaction of sales or services rendered. See also: Accounts Receivable Subsidiary Ledger, Accounts Receivable Turnover, Allowance for Doubtful Accounts, Inventory Financing, Quick Assets
ACCOUNTABLE PLAN  look up translate image
Any reimbursement or other expense allowance arrangement of an employer that meets all of the following requirements (therefore excluding it from gross w-2 EARNED INCOME and tax): (1) it provides reimbursements advances or allowances including per diem and meals, to employees for any job related deductible business expense; (2) employees must be able to substantiate expenses covered in the plan; (3) employee must return any excess advances or payments.
ACCOUNTANT (kế toán viên)  look up translate image
Person skilled in the recording and reporting of financial transactions.
ACCOUNTANTS' REPORT (Báo cáo của kế toán)  look up translate image
Formal document that communicates an independent accountant's: (1) expression of limited assurance on FINANCIAL STATEMENTS as a result of performing inquiry and analytic procedures (REVIEW REPORT); (2) results of procedures performed (AGREED-UPON PROCEDURES REPORT); (3) non-expression of opinion or any form of assurance on a presentation in the form of financial statements information that is the representation of management (COMPILATION REPORT); or (4) an opinion on an assertion made by management...(more)
ACCOUNTING  look up translate image
Recording and reporting of financial transactions, including the origination of the transaction, its recognition, processing, and summarization in the FINANCIAL STATEMENTS. See also: Beginning Inventory, Original Cost, Spreadsheet, Straight-Line Percentage
ACCOUNTING CHANGE (thay đổi kế toán)  look up translate image
Change in (1) an accounting principle; (2) an accounting estimate; or (3) the reporting entity that necessitates DISCLOSURE and explanation in published financial reports.
ACCOUNTING CYCLE (chu trình kế toán)  look up translate image
The sequence of steps followed in the accounting process to measure business transactions and transform the measurements into FINANCIAL STATEMENTS for a specific period. See also: Financial Statements
ACCOUNTING PRINCIPLES BOARD (APB) (Uỷ ban chuẩn mực kế toán)  look up translate image
Senior technical committee of the AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS (AICPA) which issued pronouncements on accounting principles from 1959-1973. The APB was replaced by the FINANCIAL ACCOUNTING STANDARDS BOARD (FASB). See also: APB
ACCOUNTS PAYABLE SUBSIDIARY LEDGER (sổ phụ tài khoản phải trả)  look up translate image
A financial record of an individual ACCOUNT PAYABLE in which entries can be made daily. See also: Account Payable
ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER (sổ phụ tài khoản phải thu)  look up translate image
A financial record of an individual ACCOUNT RECEIVABLE in which entries can be made daily. See also: Account Receivable
ACCOUNTS RECEIVABLE TURNOVER  look up translate image
Used to measure a company’s ability to collect cash from credit customers. Found by dividing net sales by average net ACCOUNT RECEIVABLE. See also: Account Receivable
ACCRUAL (dồn tính, ghi ngược)  look up translate image
The recognition of an expense or revenue that has occurred but has not yet been recorded. Việc ghi nhận một chi phí hay thu nhập đã xảy ra nhưng chưa ghi sổ
ACCRUAL ACCOUNTING  look up translate image
The attempt to record the financial effects of transactions and other events in the periods in which those transactions or events occur rather than only in the periods in which cash is received or paid by the business, using all the techniques developed by accountants to apply the MATCHING PRINCIPLE. See also: Matching Principle
ACCRUAL BASIS  look up translate image
Method of ACCOUNTING that recognizes REVENUE when earned, rather than when collected. Expenses are recognized when incurred rather than when paid. See also: Indirect Method
ACCRUED EXPENSE  look up translate image
An expense that has occurred but is not recognized in the accounts.
ACCRUED INTEREST  look up translate image
INTEREST that has accumulated between the most recent payment and the sale of a BOND or other fixed-income security. See also: Bond, Interest
ACCUMULATED DEPRECIATION (hao mòn lũy kế)  look up translate image
Total DEPRECIATION pertaining to an ASSET or group of assets from the time the assets were placed in services until the date of the FINANCIAL STATEMENT or tax return. This total is the CONTRA ACCOUNT to the related asset account. See also: Tax Basis
ACCUMULATION (lũy kế, cộng dồn, dồn tích)  look up translate image
Profits that are not paid out as DIVIDENDS but are instead added to the company’s capital base. See also: Dividends
ACID-TEST RATIO  look up translate image
The relationship of a company’s current assets that can be converted into cash to its current liabilities. It is determined by dividing QUICK ASSETS by current liabilities.
ACQUISITION (thôn tính, mua lại công ty khác)  look up translate image
One company taking over controlling interest in another company.
ACTUARY  look up translate image
Mathematician employed by an insurance company to calculate PREMIUMS, RESERVES, DIVIDENDS, and insurance, PENSION, and ANNUITY rates, using risk factors obtained from experience tables. See also: Annuity, Dividends, Life Expectancy, Pension, Premium, Reserve
ADDITIONAL PAID IN CAPITAL  look up translate image
Amounts paid for stock in excess of its PAR VALUE or STATED VALUE. Also, other amounts paid by stockholders and charged to EQUITY ACCOUNTS other than CAPITAL STOCK.
ADJUSTED BASIS  look up translate image
After a taxpayer's basis in property is determined, it must be adjusted upward to include any additions of capital to the property and reduced by any returns of capital to the taxpayer. Additions might include improvements to the property and subtractions may include depreciation or depletion. A taxpayer's adjusted basis in property is deducted from the amount realized to find the gain or loss on sale or disposition.
ADJUSTED GROSS INCOME  look up translate image
Gross income reduced by business and other specified expenses of individual taxpayers. The amount of adjusted gross income affects the extent to which medical expenses, non business casualty and theft losses and charitable contributions may be deductible. It is also an important figure in the basis of many other individual planning issues as well as a key line item on the IRS form 1040 and required state forms. See also: Gross Income
ADJUSTED TRIAL BALANCE  look up translate image
A trial balance prepared after all adjusting entries have been recorded and posted to the accounts. Should have equal credit and debit totals.
ADJUSTING JOURNAL ENTRY (bút toán điều chỉnh)  look up translate image
An accounting entry made into a subsidiary ledger called the General journal to account for a periods changes, omissions or other financial data required to be reported "in the books" but not usually posted to the journals used for typical period transactions (the cash receipts journal, cash disbursements journal, the payroll journal, sales journal and so on) the entry is posted to the general ledger accounts directly and usually will be numbered itself, dated and have an explanation. Example: AJE#...(more)
ADR  look up translate image
Receipts for shares of foreign company stock maintained by an intermediary indicating ownership. See also: American Depository Receipt (ADR)
ADVERSE OPINION  look up translate image
Expression of an opinion in an AUDITORS' REPORT which states that FINANCIAL STATEMENTS do not fairly present the financial position, results of operations and cash flows in conformity with GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP).
AFFILIATED COMPANY  look up translate image
Company, or other organization related through common ownership, common control of management or owners, or through some other control mechanism, such as a long-term LEASE.
AGENCY FUND  look up translate image
Fund consisting of ASSETS where the holder agrees to remit the assets, income from the assets, or both, to a specified beneficiary in due course or at a specified time.
AGREED-UPON PROCEDURES REPORT  look up translate image
See also: Accountants' Report
AICPA  look up translate image
National professional membership organization that represents practicing CERTIFIED PUBLIC ACCOUNTANTS (CPAs). The AICPA establishes ethical and auditing standards as well as standards for other services performed by its members. Through committees, it develops guidance for specialized industries. It participates with the FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) and the GOVERNMENT ACCOUNTING STANDARDS BOARD (GASB) in establishing accounting principles. See also: American Institute of Certified Public Accountants (AICPA)
ALLOCATE  look up translate image
To set aside for a specific reason.
ALLOWANCE FOR DOUBTFUL ACCOUNTS  look up translate image
A contra-asset account used to reduce ACCOUNTS RECEIVABLE to the amount that is expected to be collected in cash. See also: Account Receivable, Contra Account
An alternative to formal litigation which includes techniques such as arbitration, mediation, and a non-binding summary jury trial.
ALTERNATIVE MINIMUM TAX (AMT)  look up translate image
Tax imposed to back up the regular income tax imposed on CORPORATION and individuals to assure that taxpayers with economically measured income exceeding certain thresholds pay at least some income tax. See also: AMT
AMERICAN DEPOSITORY RECEIPT (ADR)  look up translate image
Receipts for shares of foreign company stock maintained by an intermediary indicating ownership. See also: ADR
National professional membership organization that represents practicing CERTIFIED PUBLIC ACCOUNTANTS (CPAs). The AICPA establishes ethical and auditing standards as well as standards for other services performed by its members. Through committees, it develops guidance for specialized industries. It participates with the FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) and the GOVERNMENT ACCOUNTING STANDARDS BOARD (GASB) in establishing accounting principles. See also: AICPA
AMORTIZATION  look up translate image
Gradual and periodic reduction of any amount, such as the periodic writedown of a BOND premium, the cost of an intangible ASSET or periodic payment Of MORTGAGES or other DEBT. See also: Effective Interest Method, Unamortized Bond Discount
ANALYST  look up translate image
Person in a brokerage house, bank trust dept., or mutual fund group who studies a number of companies and makes buy or sell recommendations on the securities of particular companies and industry groups.
ANALYTICAL PROCEDURES  look up translate image
Substantive tests of financial information which examine relationships among data as a means of obtaining evidence. Such procedures include: (1) comparison of financial information with information of comparable prior periods; (2) comparison of financial information with anticipated results (e.g., forecasts); (3) study of relationships between elements of financial information that should conform to predictable patterns based on the entity's experience; (4) comparison of financial information with industry norms.
ANNUAL REPORT (báo cáo hàng năm)  look up translate image
Report to the stockholders of a company which includes the company's annual, audited BALANCE SHEET and related statements of earnings, stockholders' or owners' equity and cash flows, as well as other financial and business information.
ANNUITY (niên kim)  look up translate image
Series of payments, usually payable at specified time intervals. See also: Actuary, Deferred Payment Annuity, Fixed Annuity, Ordinary Annuity , Variable Annuity
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Accounting terms
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Created on 2011-04-23 17:18:21
Number of terms 1088
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