Glosario en ingles contabilidad primaria

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  • Publicado : 16 de noviembre de 2010
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A
Account
1) A ledger that records the activity of increases and decreases of a particular nature. 2) One of the accounts that make up the general ledger accounts. 3) An account that is listed on the chart of accounts.
Account payable
A current liability owed by the company to a vendor for purchase of goods or services.
Account receivable
A current asset owed to the company by customerswhen they purchase goods and services.
Accounting
The function of gathering and recording financial information of a business entity for the purpose of preparing summary reports that can be analyzed and used to make managerial decisions.
Accounting equation for the balance sheet
Assets = Liabilities + Equity. Provides the underlying foundation for double-entry accounting.
Accounting frameworkAssets, liabilities, equity, revenue, expense.
Accounting model
A format that depicts the debits and credits and increases and decreases for each section in the accounting framework.
Accounting periods
One of the six basic assumptions of accounting information. The assumption that reports of activity are measured during specific time-intervals called "accounting periods". An accounting periodis an interval between one point in time and another during which the financial activity of a business is measured. Usually by month or quarter but not longer than one year.
Accurate
One of the three criteria of "Dependability" which is one of the two primary characteristics of accounting information. For financial statements of be considered reasonably accurate or valid, means that they saywhat they mean to say. They are not overstated or understated.
Agent
A person authorized to act on behalf of another person.
Asset
An economic resource a company has possession and control over that will provide a future benefit.
B
Bad debt
An account receivable amount from a customer that will never be collected.
Balance
1) The amount remaining in a general ledger account. 2) Whether thetwo sides of a ledger are "in" balance or "out" of balance, the debits either equal or don't equal the credits.
Balance Sheet
One of the three primary financial statements, the balance sheet reflects the measurement of the company's assets, liabilities and equity position at a given point in time.
Bank charge
Service fees and other charges a bank levies on its customers.
Bank reconciliation
Aprocess by which to compare an entity's book cash balance with the bank's cash balance as of a given period to note any discrepancies.
Bankrupt
When a company's liabilities exceed their assets to such an extent they seek protection under the law from creditors.
Billings
Invoices sent to customers or clients that reflect the amount due for goods sold or services rendered.
Books
A generalreference to all of the financial journals and ledgers associated with a set of financial statements.
Budget
An itemized summary of probable expenses and revenue for a given accounting period.
C
Calendar year
The period between January 1, and December 31, of a year. It can be the fiscal year for a business entity.

Capital
The amount of the owner's equity in a business.
Capital asset
Anasset with a life longer than one year. Usually refers to a tangible fixed asset.
Capital stock
A general ledger account found in the equity section of a balance sheet. The account shows the amounts stockholders paid to acquire their shares of stock.
Cash
Money on-hand or in the bank.
Cash discount
An offer to reduce the sales price if prompt payment is made.
Cash flow
The difference betweencash in and cash out of a business. The amount of cash remaining is referred to as cash flow.
Certified Public Accountant
A person who has been licensed by their state board of accountancy to practice public accounting.
Chart of accounts
A list of all the names and numbers of the accounts found in the general ledger.
Collateral
Assets that are pledged to be used in case a borrower defaults...
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