Business Accounting Terms

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 lack of recognition or acknowledgment

• The nonrecognition of their achievements was a constant source of frustration for the team.
• They were upset about the nonrecognition of all the hard work they put in.
• It sucks that their efforts go unnoticed, total nonrecognition.
• The shadow of nonrecognition loomed over their success, casting a dark cloud over their accomplishments.

noun a unit of currency in India, Pakistan, Nepal, and some other countries

• The total cost of the project is estimated to be Rs. 1,000,000.
• I owe you Rs. 500 for the concert tickets.
• I can't believe he spent Rs. 10,000 on that jacket!
• Her dedication to the cause is worth more than Rs. 1,000 in donations.

noun the practice or profession of maintaining financial records

• The field of accountancy requires a strong understanding of financial principles and regulations.
• My cousin is studying accountancy in college and she says it's pretty challenging.
• I'm thinking of switching my major to accountancy because I heard it's a solid career choice.
• In the grand scheme of business, accountancy is the backbone that keeps everything in order.

verb Accrued is the past tense of the verb accrue, which means to accumulate or increase over time.

• Interest is accrued on the savings account balance each month.
• I've accrued quite a bit of vacation time, so I'm thinking of taking a long trip.
• I've been working hard and my savings have accrued nicely.
• Over time, the benefits of regular exercise accrued and I felt healthier and stronger.