2aysti20%7 ‘Accounting English Vocabulary. 9 Most Common Phrases: Credit, Assats, Bookkeeper, Auditor, Debit VAST CTT lg Accounting English Vocabulary. 9 Most Common Phrases: Credit, Assets, Bookkeeper, Auditor, Debit, 6 a pug 40 Most Common Collocations with Strong/Strongly: Strongly Agree, Stror Case, Strong Argument, Strong What Does Friends With Bens Friends With Benefits Defini ‘What Does Easy Pickings Mean? What D What Does Mess Up Mear Definition Up & MyEnglishTeacher.: Forum How to get into Poltes? Excuse me in Portuguese? How to say please in Chinese? ACCOUNTING Polit in Spanish How to draw a face? Whether you are an a hitps:ihwiw myenglshteacher eubloglaccounting-english-vocabulary! 182ai2017 ‘Accounting English Vecabulary. 9 Most Common Phrases: Credit, Assats, Bookkeeper, Auditor, Debit terms and phrases can be very helpful, Here are some important accounting vocabulary, whether it be for your job or for your personal ie 1. Bookkeeper ‘Apperson whose job itis to keep the financial records for a company. It can be for a large company or a small company. A bookkeeper may or may not be a trained accountant. Its. possible tat they do not have any forma raining at al ete ety sane Ae “Their main function isto record the money that comes in versus the money that goes out Some bookkeepers who have a wider range of skis may be asked to do more. A . thockkeeper is also often responsible for paying bill or making sure that they get pai More for you: BH other woystosay-Nice To MeetYou' Junior Accountant am T Practice English on Skype for Free GB Randstad Hella: Categories randstad TS] Categories see xepry Most bookkeepers are not certified public accountants so any financial statements that they prepare are usually reviewed by an accountant, + Now that we have a new office and have doubled the number of people we employ, its time to get a bookkeeper. + Asa bookkeeper, | pay the billsfor our company, prepare financial statements, and meet with our accountant quarterly 2. Auditor ‘A person who specializes in verifying financial compliance, accounts, and accounting practices in a company, organization, or for an individual person. Large companies, especially those who work in the finance industry may employ an antire department of auditors to ensure that members of the company are complying with government and company accounting regulations. Governments employ auditors to ensure that it’ citizens are correctly filing their taxes. ‘Some small companies may have one person who audits, or checks their accounting or they may hire an outside firm to do it. + The auditor wrote up the discrepancies that she had found in the department’ books. + Asan auditor, itis important that | am aware of all of the new federal regulations 3. Assets In accounting terms this refers to. property owned by a person or a company that is regarded has having value that could be used to meet one's debts, commitments, or legacies. This includes anything that a company owns that it could sel It also includes cash, accounts receivable, property, and goods owned by the company, Its important to note, that if more money is owed on something than it could be sold for, then itis not an asset. This includes property or fancy equipment, + Our company has a fot of assets, but they cant all be turned into cash quickly + Whar are your personal assets? 1 ve You the best experience on our abst By using our st you agree to our Privacy Polly. ( OK hitps:ihwiwmyenglshteacher eubloglaccounting-english-vocabulary! 2162aiii2017 ‘Accounting English Vecabulary. 9 Most Common Phrases: Credit, Assats, Bookkeeper, Auditor, Debit * Our liabilities ore currently greater than our assets. + The company has a large amount of liabilities inthe form of money owed for goods. 5. Accounts Payable ‘This refers to money that a company has to pay to creditors, This includes money owed to employees, other companies or creditors. These are liabilities. This is money that goes our. + ifthe accounts payable are more than the accounts receivable then we're in trouble. * Since we paid off our main creditor last month our accounts payable have gone down significantly. 6. Accounts Receivable This is money that is owed to a company. This is money that is coming in. This is money received by customers who have bought the company's products or services. + With the opening of the new store our accounts receivable have skyrocketed. + How are our accounts receivable looking for the month? 7. Debit ‘This refers to an amount of money that a company owes, or the amount of mone) they have spent., This is located on the left hand side of an accounting sheet. This is the money going out, * Please enter the bills under the debit column on the spreadsheet. + There are discrepancies of the debits for the company. 8. Credit In accounting terms, this shows how much money a company receives. This is traditionally on the right side of a financial sheet. This is the money coming in, + Our credits for this money are more than are debits, so we are in the black. + We are expecting increased credits this week, because we will get paid by people who owe us money. 9. Balance Sheet ‘This refers to a document that records a company's assets, liabilities, and capital at a particular moment in time. If shareholders have equity in the company, then this may be shown on the balance sheet as well, Balance sheets are usually distributed or due periodically within a company, often quarterly + Every quarter we must report certain numbers on our balance sheet. + Allof the debit and credits must be correct inorder to get accurate numbers on the balance sheet. 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