Accounting and Management Technology Glossary

Hello everybody, my name is Thanuka Somalingam, and I am 18 years old. I have been studying Accounting and Management Technology for 2 years at Ahuntsic College. This glossary allows you to understand the meaning of a word in the same field of study as me. It is easier to search words by simply reading this article published on my blog. This glossary will help you understand the meaning of 20 words related to the field of study. All the definitions found on my glossary are taken by Oxford, Lexico or Investopedia dictionary. The examples are taken from ichacha.net. Each word will have a definition, an audio pronunciation to help people say the word correctly, an example of how we can use the word in a sentence and if needed, some may even include an image.

account reconciliation: noun; A procedure for confirming that the balance in a chequebook matches the corresponding bank statement. This is normally done by preparing a bank reconciliation statement.; Example: Invalid or incorrect data needed correction and resubmission with consequences for data and account reconciliation.; fr: rapprochement des comptes
accounts receivable: noun; Accounts receivable (AR) is the balance of money due to a firm for goods or services delivered or used but not yet paid for by customers.; Example: Bidders offered about $500,000 for the equipment and accounts receivable.; fr: comptes débiteurs
amortize: verb; Reduce or pay off (a debt) with regular payments.; Example: The government also allows him to amortize the player contracts.; fr: amortir
balance sheet: noun; A statement of the money values of the assets and liabilities of a firm or any other organization at some moment, particularly the end of a financial year.; Example: Florida insurers are part of a national trend toward stronger balance sheets.; fr: bilan
breakeven point: noun; The level of production, sales volume, percentage of capacity, or sales revenue at which an organization makes neither a profit nor a loss.; Example: Any sales made past the breakeven point can be considered profit (after all initial costs have been paid).; fr: seuil de rentabilité
bankruptcy: noun; Bankruptcy is a legal proceeding involving a person or business that is unable to repay their outstanding debts.; Example: He later had some financial problems and had to declare bankruptcy.; fr: faillite
chart of accounts: noun; A chart of accounts (COA) is an index of all the financial accounts in the general ledger of a company.; Example: The listing of the account names is called the chart of accounts.; fr: plan comptable
current liabilities: noun; Amount owed for salaries, interest, accounts payable and other debts due within 1 year.; Example: Accounting for current liabilities is similar to accounting for current assets.; fr: passif courant
deferred revenue: noun; A liability account used to collect deposits and other cash receipts prior to the completion of the sale.; Example: Analysts said a large chunk of deferred revenue distorted the results at first glance.; fr: revenu reporté
down payment: noun; A partial payment made at the time of purchase; the balance to be paid later.; Example: He made a down payment of $100,000 for the house.; fr: acompte
intangible asset: noun; Something that a company has and that benefits it but does not exist physically, for example a brand or the company's reputation.; Example: The most important intangible asset is the company's brand.; fr: immobilisation incorporelle
opening balance: noun; The balance that is shown in an account at the start of an accounting period.; Example: The opening balance for April was minus $1 300.; fr: solde d'ouverture
perpetual inventory system: noun; Recordkeeping system in which book inventory is updated daily.; Example: Starting in the 1970s digital computers made possible the ability to implement a perpetual inventory system.; fr: système d'inventaire permanent
return on net assets: noun; A measure that is used to see how well a company is using its assets to produce profits. It shows the profits for the year as a percentage of the recent total assets.; Example: About 40 per cent of listed companies are set to earn a return on assets of below 1 per cent.; fr: rendement de l'actif net
running cost: noun; The amount of money it costs to operate a machine, vehicle, business, etc.; Example: They intend to save $10 million a year in running costs.; fr: coût de fonctionnement
salary: noun; Money that employees receive for doing their job, especially professional employees or people working in an office, that is usually paid every month.; Example: He gets commission on top of his salary.; fr: salaire
share: noun; Assets belonging to or due to or contributed by an individual person or group.; Example: He wanted his share in cash.; fr: part
solvency: noun; The ability to meet maturing obligations as they come due.; Example: There are serious doubts as to the company's solvency.; fr: solvabilité
tangible asset: noun; A physical thing that is owned by a company or person, such as goods, machines, buildings, and cash.; Example: Internet companies usually have few tangible assets.; fr: immobilisation corporelle
wages: noun; A regular amount of money that you earn, usually every week, for work or services.; Example: Wages are paid on Fridays.; fr: salaires