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 | Definition |
|---|---|
| VAT | Accounting term: VAT. |
| Value in use | Accounting term: Value in use. |
| Variable costing | Accounting term: Variable costing. |
| Variance analysis | Accounting term: Variance analysis. |
| Vendor misclassification | Accounting term: Vendor misclassification. |
| Volatility premium | Accounting term: Volatility premium. |
| Volatility scenario | Accounting term: Volatility scenario. |
| variance fire drill | Practitioner slang or shorthand used in accounting: variance fire drill. |
| variance panic | Practitioner slang or shorthand used in accounting: variance panic. |
| variance ping | Practitioner slang or shorthand used in accounting: variance ping. |