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Accounting Glossary

Terms: 2162 · Filtered: 89 · 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
Labor efficiency variance Accounting term: Labor efficiency variance.
Last-In, First-Out (LIFO) An inventory accounting method where the latest goods purchased are assumed to be the first ones sold.
Lease Capitalization (ASC 842/IFRS 16) (N/A (standards are key)) The accounting treatment under new standards (ASC 842/IFRS 16) where most leases are recognized on the balance sheet as a 'Right-of-Use' (ROU) asset and a corresponding lease liability.
Lease accounting Accounting term: Lease accounting.
Lease accrual Accounting term: Lease accrual.
Lease adjustment Accounting term: Lease adjustment.
Lease allocation Accounting term: Lease allocation.
Lease analysis Accounting term: Lease analysis.
Lease approval Accounting term: Lease approval.
Lease assessment Accounting term: Lease assessment.
Lease assumption Accounting term: Lease assumption.
Lease calculation Accounting term: Lease calculation.
Lease classification Accounting term: Lease classification.
Lease concept Accounting term: Lease concept.
Lease control Accounting term: Lease control.
Lease deferral Accounting term: Lease deferral.
Lease disclosure Accounting term: Lease disclosure.
Lease estimate Accounting term: Lease estimate.
Lease exception Accounting term: Lease exception.
Lease framework Accounting term: Lease framework.
Lease guidance Accounting term: Lease guidance.
Lease liability Accounting term: Lease liability.
Lease measurement Accounting term: Lease measurement.
Lease memo Accounting term: Lease memo.
Lease model Accounting term: Lease model.
Lease policy Accounting term: Lease policy.
Lease principle Accounting standard or authoritative guidance: Lease principle.
Lease procedure Accounting term: Lease procedure.
Lease recognition Accounting standard or authoritative guidance: Lease recognition.
Lease reconciliation Accounting term: Lease reconciliation.
Lease review Accounting term: Lease review.
Lease rollforward Accounting term: Lease rollforward.
Lease schedule Accounting term: Lease schedule.
Lease testing Accounting term: Lease testing.
Lease treatment Accounting term: Lease treatment.
Lease valuation Accounting term: Lease valuation.
Lease variance Accounting term: Lease variance.
Lease workpaper Accounting term: Lease workpaper.
Lease worksheet Accounting term: Lease worksheet.
Leases guidance Financial ratio/metric: Leases guidance.
Leverage (N/A) The use of borrowed capital to finance assets, aiming to magnify the returns on equity.
Liability caption Accounting term: Liability caption.
Liability classification Accounting term: Liability classification.
Liability disclosure Accounting term: Liability disclosure.
Liability line item Accounting term: Liability line item.
Liability presentation Accounting term: Liability presentation.
Liquidity assumption Accounting term: Liquidity assumption.
Liquidity constraint Accounting term: Liquidity constraint.
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Commonly Confused / Near-Variant Terms
Computed from current result set
Lease guidance VS Leases guidance
Categories: General / General