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Est. 1869

Wednesday, November 24, 1892

Price 6d

Accounting vocabulary
Accounting could be defined as the process of collecting, recording, summarising and communicating financial information. Accounts are the record in which this information is recorded.

account a financial record of similar transactions accountant a person who has received professional training in the field of accounting accounting the design and maintenance of a system of financial records and the interpretation of the data contained in them assets money or something of value to a company = active

balance sheet a financial statement listing the assets, liabilities, and net worth of a company =balanta bond a security which indicates the debt of a company to the owner of the bond = obligatiune bookkeepers employees who record the dayto-day transactions of the company in the proper account

depreciate an accounting process which decreases the value of certain fixed assets according to their use. It allows for the firm to recover the cost of their capital over a certain period of time. depreciation the decrease in value of certain fixed assets due to use and wear = amortizare income money which a company or individual receives in the course of doing business

ledger a book containing all the accounts for a company liabilities debts; money which the company owes to another company, a bank, or an individual long term refers to a period of usually ten years or more mortgage a document which gives the title or ownership rights, but not possession of a piece of property to a creditor as guarantee for the payment of a loan; also, the value of a loan

net worth also referred to as owners equity; the difference between the value of the assets of a company and the value of its liabilities outstanding not yet paid receivable money which should be paid to a company during the present business cycle statement a financial report which usually shows totals and balances

turnover cifra de afaceri profit and loss account cont de profit si pierderi consumables - consumabile raw materials materii prime expenditure - cheltuieli costs of production costul de productie

value-added tax - a tax levied to on the assessable profits of companies treasury bill - a short term bond sold by government to cover cash requirements, usually redeemable in 3 months redeemable rambursabil redeemable by installments - rambursabil prin pli ealonate receivables creane

excise = acciz Inland Revenue = Fisc IRS Internal Revenue Service= Fisc financial year an fiscal operating costs costuri de exploatare

Working capital fond de rulment Secured debenture = obligatiune garantata Unsecured loan = obligatiune negarantata Accounts receivable = debitori Accounts payable = creditori Sinking funds = fond de amortizare Called up share capital= capital social atras