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Accounting Glossary

Terms: 2162 · Filtered: 203 · View: list

This glossary defines accounting terminology used in bookkeeping, financial reporting, audit, tax, and internal control documentation.

Coverage includes core accounting concepts, chart-of-accounts language, financial statement items, audit and assurance terms, tax and payroll vocabulary, closing processes, controls, and common reporting metrics.

For accountants, auditors, bookkeepers, controllers, finance staff, students, and readers interpreting accounting reports and workpapers.

Term of the Day
Bond analysis
Accounting term: Bond analysis.
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Term Definition
Consolidation testing Accounting term: Consolidation testing.
Consolidation treatment Accounting standard or authoritative guidance: Consolidation treatment.
Consolidation variance Accounting term: Consolidation variance.
Consolidation workpaper Accounting term: Consolidation workpaper.
Consolidation worksheet Accounting term: Consolidation worksheet.
Contingent asset Accounting term: Contingent asset.
Contingent liability Accounting term: Contingent liability.
Contingent liability (N/A) A potential obligation that may arise depending on the outcome of a future event.
Contra Account (N/A) An account that reduces the balance of another associated primary account.
Contract Asset/Liability (N/A) Arises under ASC 606/IFRS 15 when there's a timing difference between satisfying a performance obligation and the customer's payment.
Contract asset Accounting term: Contract asset.
Contract liability Accounting term: Contract liability.
Contribution margin Accounting term: Contribution margin.
Control (accounting) Accounting term: Control (accounting).
Control activity Internal control concept: Control activity.
Control deficiency Accounting term: Control deficiency.
Control environment Internal control concept: Control environment.
Control risk Accounting term: Control risk.
Controller Accounting/finance role: Controller.
Conversion cost Accounting term: Conversion cost.
Convertible accounting Accounting term: Convertible accounting.
Convertible classification Accounting term: Convertible classification.
Convertible debenture Accounting term: Convertible debenture.
Convertible disclosure Accounting term: Convertible disclosure.
Convertible measurement Accounting term: Convertible measurement.
Convertible valuation Accounting term: Convertible valuation.
Cook the books Practitioner slang or shorthand used in accounting: Cook the books.
Cookie jar reserves Accounting term: Cookie jar reserves.
Corporate tax Accounting term: Corporate tax.
Corrective control Internal control concept: Corrective control.
Cost Accounting analyst Accounting/finance role: Cost Accounting analyst.
Cost Accounting associate Accounting/finance role: Cost Accounting associate.
Cost Accounting coordinator Accounting/finance role: Cost Accounting coordinator.
Cost Accounting lead Accounting/finance role: Cost Accounting lead.
Cost Accounting manager Accounting/finance role: Cost Accounting manager.
Cost Accounting specialist Accounting/finance role: Cost Accounting specialist.
Cost accountant Accounting/finance role: Cost accountant.
Cost approach Accounting term: Cost approach.
Cost center Accounting term: Cost center.
Cost driver Accounting term: Cost driver.
Cost of Goods Sold (COGS) The direct costs attributable to the production of goods sold by a company during a period.
Cost of Goods Sold (COGS) The direct costs attributable to the production of the goods sold by a company.
Cost of Goods Sold (COGS) The direct costs associated with producing the goods that a company sells during a specific period.
Cost of capital Accounting term: Cost of capital.
Cost of capital (WACC (often used as a proxy)) The rate of return that a company must earn on an investment to maintain its market value and satisfy its investors.
Cost of goods sold (COGS) Accounting term: Cost of goods sold (COGS).
Cost principle Accounting term: Cost principle.
Cost-volume-profit (CVP) Accounting term: Cost-volume-profit (CVP).
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Commonly Confused / Near-Variant Terms
Computed from current result set
Capital Expenditure VS Capital Expenditure
Categories: General / General
Consolidation VS Consolidation
Categories: General / General
Capitalization (of Costs) VS Capitalization of Costs
Categories: General / General