Glosario contable

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  • Publicado : 14 de mayo de 2011
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Is an organization, institution or being that has its own existence for legal or tax purposes. An accounting entity is often an organization with an existence separate from its individual members--for example, a corporation, partnership, trust, etc.

Is thetime period for which accounts are prepared, usually one year.

Is the set of manual and computerized procedures and controls that provide for identifying relevant transactions or events; preparing accurate source documents, entering data into the accounting records accurately, processing transactions accurately, updating master files properly, and generating accurate documentsand reports.

ACCOUNTING CYCLE Is the sequence of steps in preparing the financial statements for a given period. It refers to the fact that because financial reports are given each period (usually a year) there are a set of steps (cycle) taken each period that result in the reports and preparation for the next period or cycle. The term cycle is used because every period there is a start and anend. The cycle usually starts with the budget, goes through the journal entries, adjusting entries, posting to the accounts, financial reports, and closings.
AUDITOR is an accountant usually certified by a national professional association of accountants, if one exists in the corporations country, or certified by another countrys recognized national association of accountants. Corporations willoften work with both internal auditors and external auditors.
AVAL is a term meaning inseparable from the financial instrument. This gives a guarantee and is abstracted from the performance of the underlying trade contract: Article 31 of the 1930 Geneva Convention of the Bills Of Exchange states that the aval can be written on the bill itself or on an allonge. US Banks are prohibited fromavalizing drafts.

BALANCE is: a. equality between the totals of the credit and debit sides of an account; or, b. the difference between the totals of the credit and debit sides of an account.
BALANCING OFF THE BOOKS means totaling off the various amounts to find out how much money is left or, how overdrawn theorganization is. At certain times; e.g. once a month, quarterly, for management committee meetings; it may be necessary to balance off the books".
BOOKS OF ACCOUNT are the financial records of a business. Usually refers to the lowest level of recorded data, before summaries are made.

CASH FLOW is earnings before depreciationand amortization. Cash flow is calculated as the difference between cash inflows and outflows. Cash flow can be derived from Operating Profit by adjusting for items which do not affect payments (e.g. depreciation) and items (e.g. changes in working capital) which affect payments but are not recorded in Operating Profit.
CAPITAL ACCOUNT: in finance, is an account of the net value of a business ata specified date; in economics, it is that part of the balance of payments recording a nations outflow and inflow of financial securities.
CAPITAL GAIN: is the excess of selling price over purchase price, which may be given special treatment for tax purposes provided the sale takes place more than a given number of months after purchase.______________________________________F_____________________

FINANCIAL RESULTS: usually refers to the summary financial statements provided in compliance to the GAAP guidelines. They can cover any period(s), but usually cover either: single month, quarter, or annual periods.

GENERAL LEDGER: is the ledger that contains all of the financial accounts...
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