Financial Reporting Terminology

noun A fixed amount of money that an employee receives as a regular salary before additional payments such as bonuses or overtime are included.

• The company offers a competitive base pay to attract top talent.
• The job comes with a decent base pay, so it's a good opportunity.
• I'm looking for a job with a solid base pay to cover my expenses.
• In negotiations, always aim to start from a high base pay to have room for adjustments.

noun a privilege, gain, or profit incidental to regular salary or wages; a bonus

• The company offers various perquisites to its executives, such as a car allowance and stock options.
• One of the job's perquisites is access to the company gym for free.
• Getting free concert tickets is a cool perquisite of working in the music industry.
• In the world of politics, having influential connections is considered a valuable perquisite.

noun a thing that is three times as large or as numerous as others of its kind

adjective existing in three copies or examples

• Please remember to sign all three copies of the document in triplicate.
• Make sure you sign all three copies of the form three times.
• Don't forget to triple sign all the papers.
• Her love for him was so strong, it felt like it existed in triplicate.

verb to represent or speak of something as being smaller, less important, or less serious than it actually is

• It would be an understatement to say that the project was challenging.
• To say it was tough is an understatement.
• Calling it easy would be a total understatement.
• Her impact on the team cannot be understated.

noun a decorative display or arrangement used to enhance the appearance of something without providing any real benefit or function

• The company's annual report includes detailed financial information, not just window dressing.
• Don't be fooled by all the window dressing in the store, the prices are still too high.
• All that fancy artwork on the walls is just window dressing to distract from the real issues.
• His promises of change were just window dressing, he had no intention of following through.

noun A freeze date is a specific date or deadline that marks the point at which certain actions or changes are no longer allowed or possible.

verb Not applicable

adjective Not applicable

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pronoun Not applicable

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• The freeze date for submitting applications is December 15th.
• Don't forget, the freeze date for signing up is in two weeks.
• You gotta get your stuff in before the freeze date hits.
• The freeze date for making changes is approaching fast, so make your decisions soon.

noun XBRL

• XBRL is a standardized format for reporting financial information in a machine-readable way.
• I have to use XBRL to submit our financial reports to the regulators.
• XBRL is like the language computers use to understand financial data.
• Using XBRL is like speaking the same language as the machines when it comes to financial reporting.