Financial Accounting Terms

noun a word used to identify any of a class of people, places, or things

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

• The defendant must answer for their actions in a court of law.
• You have to answer for missing the deadline.
• He's gonna have to answer for talking smack about her.
• As a leader, you must answer for the decisions you make.

noun a numerical value or total

verb to determine the total number of something

• Please make sure to count all the items in the inventory before placing an order.
• Can you count how many people are coming to the party?
• I lost count of how many times he called me last night.
• In times of trouble, true friends are the ones you can count on.

noun a symbol or number used in mathematics or counting

verb to calculate or estimate a number or amount

• The mathematician is a brilliant figurer who can solve complex equations effortlessly.
• She's a great figurer when it comes to planning parties and events.
• I'm not much of a figurer when it comes to budgeting my money.
• He is a key figurer in the company, always coming up with innovative ideas.

noun a property interest in which a person has a lease or rental agreement on a piece of land or a building

adjective relating to or characteristic of a leasehold

• The leasehold agreement clearly outlines the responsibilities of both the tenant and the landlord.
• I'm looking to buy a leasehold property in the city.
• I heard they're trying to sell that leasehold apartment for a good price.
• His leasehold on the property gave him a sense of security in an uncertain market.

noun the act of correcting or making right; the process of removing errors or mistakes

• The rectification of the error in the financial report was completed by the accounting department.
• They finally fixed the mistake in the budget after a lot of back and forth.
• They sorted out the mess in the paperwork and made things right.
• The rectification of their relationship took time and effort, but they eventually reconciled.

noun a part or quantity that is left after the greater part has been used, removed, or destroyed

• After dividing 25 by 4, the remainder is 1.
• I have 3 cookies left, so the remainder is for you.
• I only have a little bit of money left, just a remainder.
• Even after all the challenges she faced, she remained strong like the remainder of a tough puzzle.

noun various items not specified individually

adjective describing various items or miscellaneous goods

• The store sells a variety of sundries including toiletries, stationery, and snacks.
• I picked up some sundries like chips and gum at the convenience store.
• I always grab some sundries like odds and ends when I'm out shopping.
• The project required gathering sundries such as data, resources, and expertise.

adjective describing a noun that has not been specified or identified

• The contract includes a section for unspecified expenses that may arise during the project.
• There are some unspecified details in the itinerary for our trip.
• I can't believe you left that part of the plan unspecified!
• The painting had an unspecified charm that drew viewers in.

noun An acronym for 'person of color', referring to individuals who are not white.

adjective Describing something related to or involving people of color.

pronoun Can be used as a pronoun to refer to a person of color in a sentence.

• The company is committed to increasing diversity by hiring more POC in leadership positions.
• I heard that POC are underrepresented in this industry.
• Some people still don't understand the struggles that POC face on a daily basis.
• In a world where equality is still a dream, POC continue to fight for their rights.