Accounting Terminology

noun a person who formally examines and verifies financial accounts

• The auditor thoroughly reviewed the company's financial statements for accuracy.
• The auditor is coming in next week to check our books.
• I heard the auditor is going to be snooping around the office soon.
• She acted as an auditor of her own life, carefully examining her choices and actions.

noun a book with blue cover or binding

• The student referenced the information from the blue book during the exam.
• I left my blue book in the classroom, can you grab it for me?
• I found the answers in the blue book, so easy!
• The blue book of memories holds all my childhood secrets.

noun A person who manages the financial matters of a college or university, such as collecting fees and paying salaries.

• The bursar is responsible for managing the university's finances.
• I need to go see the bursar to sort out my tuition payment.
• The bursar is the one who handles all the money stuff around here.
• In the world of finance, the bursar is like the gatekeeper to financial stability.

noun a book in which the records of transactions involving cash are kept

• The accountant diligently recorded all financial transactions in the cashbook.
• Hey, can you update the cashbook with today's sales?
• I totally forgot to fill in the cashbook, oops!
• Keeping a mental cashbook of all the favors people owe you can be exhausting.

noun a book of blank checks that are used for making payments from a bank account

• I always keep my checkbook balanced to ensure accurate financial records.
• Don't forget to grab your checkbook before we head to the store.
• I never use my checkbook anymore, everything is digital now.
• Her generosity is like a blank checkbook, always ready to help others in need.

noun a word or phrase denoting an entity, quality, state, action, etc.

adverb a word or phrase that modifies or qualifies an adjective, verb, or other adverb

preposition a word governing, and usually preceding, a noun or pronoun and expressing a relation to another word or element in the clause

• The lawyer presented evidence contra the defendant's alibi.
• I'm going to argue contra what you just said.
• I'm totally contra that idea, dude.
• Her actions spoke contra to her words.

noun Certified Public Accountant

• The CPA provided valuable financial advice to the company.
• I hired a CPA to help with my taxes.
• My friend who's a CPA helped me with my budget.
• Becoming a CPA requires a lot of dedication and hard work.

noun a book in which daily transactions are recorded

• The accountant diligently recorded all financial transactions in the daybook.
• I keep all my important notes in my daybook so I don't forget anything.
• I lost my daybook with all my important info, I'm totally screwed.
• Her mind was like a daybook, storing memories and thoughts for safekeeping.

noun an entry recording a sum owed

verb to record a sum owed

• Please remember to debit the correct account for the transaction.
• Don't forget to take the money out of your account for that purchase.
• Make sure to swipe your card for that payment.
• His actions will debit from his reputation in the long run.

noun a person, typically a young person, who has a tendency to commit crimes or engage in immoral behavior

adjective showing or characterized by a tendency to commit crimes, particularly minor ones

• The delinquent behavior of the young offenders will be addressed in court.
• The delinquent kids were causing trouble in the neighborhood again.
• Those delinquents are always up to no good.
• His delinquent actions towards his responsibilities are like a ticking time bomb.

noun a tax deduction that allows businesses to account for the reduction in value of natural resources as they are extracted or used up

• The company was able to benefit from the depletion allowance provided by the government.
• The company got a tax break thanks to the depletion allowance.
• The company scored a sweet deal with the depletion allowance.
• The depletion allowance acted as a shield against excessive taxation for the company.

noun a reduction in the value of an asset over time

adjective depreciative (showing a decrease in value)

• The company recorded a significant depreciation in the value of its assets this quarter.
• The car's depreciation has been pretty steep since you bought it.
• I can't believe how fast the depreciation on that phone is!
• She felt a sense of depreciation in her self-worth after the criticism.

noun a lack of compatibility or similarity between two or more facts or pieces of information

• The accountant noticed a discrepancy in the company's financial records.
• There seems to be a discrepancy between what he said and what actually happened.
• I can't believe there's a discrepancy in the test scores, that's so messed up.
• The artist intentionally created a discrepancy between the colors in the painting to evoke a sense of unease.

verb a word that expresses an action, occurrence, or state of being

• After careful analysis, we figured out the best approach to solving the problem.
• I figured we could just take a shortcut through the park to get there faster.
• I never would have figured you'd be into that kind of music.
• She figured that letting go of the past was like releasing a heavy weight from her shoulders.

noun the management of money and other assets

• It is important to carefully manage your finances to ensure long-term financial stability.
• I need to figure out how to budget my finances better so I can save up for a vacation.
• I'm broke because I didn't watch my finances and spent all my money on unnecessary stuff.
• Her finances were like a leaky bucket, constantly losing money no matter how much she tried to save.

noun a list of goods or services provided with a statement of the sum due

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• Please make sure to send the invoice to the accounting department for processing.
• Hey, don't forget to shoot over the invoice so we can get paid.
• I'll need that invoice ASAP, so we can settle up.
• The invoice served as a reminder of the debt owed in more ways than one.

verb to list or detail individually

adverb in a detailed or specific manner

• Please make sure to itemize all expenses on your report for proper documentation.
• Don't forget to itemize all your receipts when doing your taxes.
• Make sure you itemize everything so you can get the most out of your deductions.
• In order to understand the full picture, we need to itemize all the factors at play.

noun a book or other collection of financial accounts of a particular type

• The accountant meticulously recorded all financial transactions in the ledger.
• Hey, can you jot down that expense in the ledger for me?
• I'll just scribble it in the ledger real quick.
• Her mind was a ledger of memories, each one carefully cataloged and stored.

noun a false or incorrect statement

• The accountant discovered a misstatement in the financial report.
• They found a mistake in the report.
• The numbers were off in the report.
• The truth was twisted in the report.

noun an amount of money owed to a person or organization for goods or services provided

adjective able to be received or collected, especially in terms of money

• The company recorded the accounts receivable on its balance sheet.
• I have a few outstanding receivables that need to be collected.
• I'm waiting on some cash from my clients, got some receivables coming in.
• Patience is a virtue, like waiting for receivables to be paid in full.

noun money owed to a business by customers or clients for goods or services provided

• The company's balance sheet includes a section for receivables, which represent the money owed to the business by customers.
• Make sure to follow up with clients who have outstanding receivables to ensure timely payment.
• I need to chase down these receivables before the end of the month.
• Managing receivables is like playing a game of financial chess - you have to strategize and anticipate your opponent's moves.

verb to restore friendly relations between

adjective no longer in conflict or disagreement

• After a long discussion, the two parties finally reconciled their differences.
• I heard they reconciled after that big fight.
• They squashed the beef and reconciled in the end.
• The colors of the painting were so different, yet somehow they reconciled perfectly.

noun a record or count of items

verb to count or record

• The accountant will tally up all the expenses for the month.
• Let's tally how many people are coming to the party.
• I'll tally the score in our basketball game.
• Her actions will tally with her words, showing she is trustworthy.

noun a piece of paper or electronic document used to track the amount of time worked by an employee

• Please make sure to fill out your time sheet accurately and submit it by the end of the week.
• Hey, don't forget to jot down your hours on the time sheet before you leave today.
• I totally forgot to clock in on the time sheet yesterday, oops!
• Completing your time sheet is like keeping a record of your life in the office.

noun a large bag or container used for carrying items

verb to calculate or total up a sum of numbers or items

• Please remember to tote up all the expenses before submitting your reimbursement request.
• Don't forget to tote up how much we spent on groceries this month.
• I'll tote up how much cash I have left after this shopping spree.
• She began to tote up all the reasons why she should quit her job.

verb to cancel or disregard something as unimportant or not worth pursuing

• The company had to write off a significant amount of debt in their financial statements.
• I had to write off that old car because it was too expensive to fix.
• I'm just going to write off that class because I know I failed the test.
• She decided to write off their friendship after he betrayed her trust.

noun a slang term for the female genitalia

• The conut is a type of palm tree native to tropical regions.
• I tried a conut for the first time on my vacation to Hawaii.
• Let's go grab some conuts at the beach this weekend.
• She's a tough nut to crack, like a conut shell.

noun a term used to refer to the group of individuals who have won an Emmy, a Grammy, an Oscar, and a Tony award

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• The PEGOT acronym stands for winning a Pulitzer Prize, an Emmy Award, a Grammy Award, an Oscar, and a Tony Award.
• Did you know that only a few people in history have achieved a PEGOT?
• She's on her way to becoming a PEGOT winner with all the talent she has.
• In the world of entertainment, achieving a PEGOT is like reaching the pinnacle of success.

noun a type of ink that is red in color

• The accountant used red ink to mark the errors in the financial report.
• I accidentally spilled red ink on my homework assignment.
• I'm in the red ink after splurging on that new gadget.
• Her words cut through me like red ink on a white canvas.

noun an archaic spelling of 'account', referring to a record or statement of financial transactions

• The company's financial department keeps a detailed accompt of all expenses and revenues.
• I need to keep a better accompt of my spending if I want to save more money.
• I lost track of my accompt after a night of partying.
• She kept a mental accompt of all the times he had let her down.

adjective not permitted or allowed; prohibited

• The expenses claimed were deemed unallowable by the finance department.
• They said we couldn't use that supplier because they were unallowable.
• I can't believe they made that purchase, it's totally unallowable.
• His behavior was so unallowable, it was like he was breaking all the rules.

noun a professional accounting body recognized globally

adjective related to the Association of Chartered Certified Accountants (ACCA)

• The ACCA qualification is recognized and respected worldwide.
• I'm studying for my ACCA exams next month.
• I heard she's a real ACCA whiz.
• His dedication to his ACCA studies is like a marathon runner's commitment to training.

noun a person who performs accounting or bookkeeping tasks

• The accomptant provided a detailed financial report to the board of directors.
• I heard the accomptant is really good with numbers.
• I wish I had the skills to be an accomptant.
• The accomptant of the group was always the one to keep track of everyone's expenses during trips.

noun the position or job of being an accountant

• Her accountantship was highly regarded in the industry for her attention to detail and accuracy.
• I heard she's pursuing accountantship as her career path.
• I never knew crunching numbers could be so cool until I got into accountantship.
• In the business world, mastering accountantship is like having a superpower to navigate financial challenges.

noun a record or statement of financial expenditure or receipts relating to a particular period or purpose

verb to consider or regard in a specified way

• The company's financial accounts need to be audited annually.
• I need to check my bank accounts before making any big purchases.
• I can't believe she hacked into his social media accounts!
• His reckless behavior on the road could be seen as settling old accounts.

noun a document detailing the items sold and the prices at which they were sold

• The company announced an account sale to boost revenue for the quarter.
• I heard there's an account sale happening at the store next week.
• I'm thinking of checking out that account sale at the mall, wanna come?
• His decision to accept the account sale offer was like signing a deal with the devil.

noun the activity or process of selling goods or services to customers on credit

• The account sales report showed a significant increase in revenue this quarter.
• Did you see the account sales numbers? They're looking really good!
• I'm crushing it in account sales right now.
• Her ability to close account sales is like a well-oiled machine.

noun a word that identifies a person, place, thing, or idea

preposition a word that shows the relationship between a noun (or pronoun) and other words in a sentence

• The company's financial report accounts for all expenditures made in the previous quarter.
• The teacher's grading system accounts for attendance and participation.
• His excuse for being late doesn't account for the fact that he forgot to set his alarm.
• The artist's unique perspective accounts for the unconventional use of colors in her paintings.

adjective Capable of accruing or being accrued

• The interest on the investment is accruable over time.
• You can earn more money on this savings account because interest is accruable.
• Dude, you gotta get in on this deal - the benefits are totally accruable!
• Happiness is accruable through acts of kindness and gratitude.

noun the act of accumulating or receiving something over time, especially benefits or payments

adjective related to the process of accruing something

• The company uses accrual accounting to record revenue and expenses when they are earned or incurred, regardless of when the cash is actually received or paid.
• Accrual accounting is like keeping track of money you've earned but haven't received yet.
• I'm not sure how the whole accrual thing works, but it's supposed to make the financial statements more accurate.
• Just like interest accrues over time, so do the company's expenses and revenues in accrual accounting.

noun abbreviation for 'account', a record or statement of financial transactions

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• Please provide your acct number for verification purposes.
• Hey, can you send me your acct details so I can transfer you the money?
• I can't access my acct right now, it's acting up.
• Her success in the business world has skyrocketed her acct balance.

noun a French term meaning 'on account' or 'on credit', typically used in financial contexts

• Il a effectué un paiement à compte pour sécuriser sa réservation.
• Elle a décidé de verser un acompte pour réserver sa place.
• J'ai mis un petit acompte pour bloquer la date.
• Investir dans ce projet est un acompte sur notre avenir.