Accounting Glossary

a

Above-the-line deduction
Accelerated depreciation
Accounting method
Accounting period
Accounting software
Accounts payable
Accounts receivable
Accounts receivable turnover
Accrual accounting
Adjusted basis
Adjusted gross income
Adjustments to income
Alternative minimum tax (AMT)
Amended return
Amortization
Amortizing loan
Appreciation
Assessment
Average tax rate

b

Balance sheet
Bank reconciliation
Basis of accounting
Bookkeeping vs accounting
Break even point
Business accounting

c

Capital
Capital gains
Capital loss
Cash accounting
Cash flow statement
Cash method
Chart of accounts
Cost of goods sold (COGS)
Current year tax

d

Deduction
Dependent
Depreciation
Direct tax
Dividend
Dividend imputation

e

EBITDA
Equity
Estate tax
Estimated tax payments
Excise tax
Exclusion tax

f

Fair market value
Financial statement
Fiscal year
Fixed assets
Flat tax
Fractional ownership

g

Gross income
Gross profit
Gross profit margin
Gross profit vs Net profit

h

Health savings account (HSA)
Household income

i

Income tax
Indirect tax
Inventory
Invoice

j

k

Key Performance Indicator (KPI)

l

Ledger
Ledger Balance
Liability
Liquid Assets
Liquidity
Living Trust

m

Margin
Margin vs Markup

n

Negative Equity
Net Income
Net profit
Net Worth
Non-liquid Asset
Note

o

Operating Margin
Operating profit
Options

p

Payroll records
Periodic Rate
Private Equity
Profit and Loss Statement
Property Tax
Purchase Agreement

q

r

Rebate
Recession
Refinance
Return on Assets (ROA)
Return on Equity (ROE)
Return on Investment (ROI)
Revenue
Risk
Roth IRA

s

S corporation
Safe harbor
Schedules
Self-directed IRA
Self-employment tax
Signature loan
Sole proprietorship
Stockbroker

t

Tax bracket
Tax credit
Tax deduction
Tax deferral
Traditional IRA
Trial balance

u

Unearned income
Unsecured debit
Use tax

v

Venture Capital

w

Working capital

y

Year to Date (YTD)

z