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A B C D E F G H I J L M N O P Q R S T U V W Z
AB AC AD AF AG AM AN AP AR AS AT AU
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Above the line
"Above the line: This term can be applied to many aspects of accounting. It means transactions, assets etc., that are associated with the everyday running of a business. See below the More…
Abstract of Title
A chronological history of property showing the chain of title from its original grant to the present ownership.
Acceleration Clause
"Any clause in a contract which spells out that when certain actions are taken, the clause comes into effect. A common acceleration clause is the clause in a lease that says if a More…
Acceptance
"The act of accepting something, usually a contract. For example, an offer is made to some person that that person buys certain goods for a certain amount of money. If the person to More…
Accessions
Goods that are installed in or affixed to other goods.
Account
"Account: A section in a ledger devoted to a single aspect of a business (e.g. a Bank account, Wages account, Office expenses account). "
Accounting cycle
"Accounting cycle: This covers everything from opening the books at the start of the year to closing them at the end. In other words, everything you need to do in one accounting year More…
Accounting equation
Accounting equation: The formula used to prepare a balance sheet: assets = liability + equity.
Accounts Payable
Accounts Payable: An account in the nominal ledger which contains the overall balance of the Purchase Ledger.
Accounts Payable Ledger
Accounts Payable Ledger: A subsidiary ledger which holds the accounts of a business's suppliers. A single control account is held in the nominal ledger which shows the total balance of More…
Accounts Receivable
An account in the nominal ledger which contains the overall balance of the Sales Ledger.
Accounts Receivable Ledger
Accounts Receivable Ledger: A subsidiary ledger which holds the accounts of a business's customers. A single control account is held in the nominal ledger which shows the total balance More…
Accretive
"Accretive: If a company acquires another and says the deal is 'accretive to earnings', it means that the resulting PE ratio (price/earnings) of the acquired company is less More…
Accrual method of accounting
"Accrual method of accounting: Most businesses use the accrual method of accounting (because it is usually required by law). When you issue an invoice on credit (ie. regardless of More…
Accruals
"Accruals: If during the course of a business certain charges are incurred but no invoice is received then these charges are referred to as accruals (they 'accrue' or More…
Accumulated Depreciation Account
"Accumulated Depreciation Account: This is an account held in the nominal ledger which holds the depreciation of a fixed asset until the end of the asset's useful life (either More…
AcSB
AcSB: Canadian Accounting Standards Board (website:www.acsbcanada.org)
Act
"A bill which has passed through the various legislative steps and, hence, has become law. "
Action
A proceeding in a Court of law where one person seeks a Court Order for the enforcement of that person's or company's rights.
ADJOURNMENT
Court approved postponement of a hearing to a future date.
Cred-O-Pedia Glossary of Credit Learning
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