Accounting Dictionary

Here you can find Accounting Dictionary created with the purpose to include major accounting terms, concepts and definitions, provide their meanings and explain their essence. Exploring Accounting Dictionary is necessary since before starting the accounting learning process and also being in the middle of it you will need to understand certain accounting terms. Proper understanding of accounting terminology will allow you to understand accounting theory and practical examples better and enhance your learning attempts.

How the Accounting Dictionary is composed? Below you can find a list of all accounting terms sorted in alphabetical order. If you want to explore one or another accounting term just click on the link below and you will be transferred to a new page where the concept or term you are interested in is provided. You can contact me in case you have suggestions on what additional terms and definitions to be included into the Dictionary.

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This Package includes Accounting Dictionary with over 1,000 accounting terms defined. Each accounting term is explained in plain English to ensure easy comprehension.

Accounting Dictionary - Contents

A	L
Account	Liability
Accounting	LIFO Method
Accounting Equation	Long Term Liability
Accounts Payable	Lower Cost Or Market
Accounts Receivable	M
Accruals	Matching
Accumulated Depreciation	Managerial Accounting
Asset	Multiple Step Income Statement
B	N
Balance Sheet	Net Book Value
Bank Reconciliation Statement	Net Income
C	Net Loss
Credit	Net Pay
Creditors	O
Current Assets	Operating Profit
Current Liabilities	P
D	Par Value
Debit	Payroll
Declining Balance Depreciation	Periodic Inventory Accounting System
Deferred Item	Perpetual Inventory Accounting System
Depreciation	Point Of Sale Method
Direct Write Off Method	Posting
Dividend	Prepaid Expenses
Double Entry Accounting	Purchase Discounts
E	Purchase Order
Equity	Purchase Returns & Allowances
Expense	R
F	Residual Value
FIFO Method	Retained Earnings Statement
Financial Accounting	Retained Earnings
Fiscal Year	Revenue
G	S
General Journal	Sales Discounts
General Ledger	Sales Returns & Allowances
Goodwill	Selling Expenses
Gross Pay	Single Step Income Statement
Gross Profit	Statement Of Cash Flows
Generally Accepted Accounting Principles	Statement Of Owners' Equity
I	Straight Line Depreciation
Income Statement	Subsidiary Ledger
Income Summary Account	Sum Of Years Digits Method
Invoice
Intangible Asset	T
Installment Method	T Account
J	Trial Balance
Journalizing	U
	Unearned Revenue

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