Abdul Khaliq on LinkedIn: #makalpha #thefinancemasterclass | 65 comments (2024)

75+ Accounting TerminologiesI often interact with accountants in their early careers or with a few years of experience.They know their accounting, they know what they are doing, and they understand their area of responsibility.However, I noticed that they lack the knowledge of the proper accounting terminology for a particular accounting treatment, accounting practice, or process.That led to putting together these most common accounting terminologies to use as a reference and use the proper terminology for a particular accounting treatment.These terminologies with definition are included:1.Accrual Accounting 2.Accruals 3.Amortization 4.Assets 5.Audit 6.Balance Sheet 7.Book Value 8.Break9.Capital Expenditure 10.Cash Basis Accounting 11.Cash Flow Statement 12.COGS (Cost of Goods Sold) 13.Cost Accounting 14.Cost15.Credit Terms 16.Depreciation 17.Dividends 18.Double19.EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) 20.Entity 21.Equity 22.Expenses 23.FIFO (First In, First Out) 24.Financial Ratios 25.Financial Statement Analysis 26.Fiscal Year 27.GAAP (Generally Accepted Accounting Principles) 28.Going Concern Concept 29.Goodwill 30.Hedging 31.Horizontal Analysis 32.Historical Cost 33.IFRS (International Financial Reporting Standards) 34.Income Statement 35.Intangible Assets 36.Internal Controls 37.Job Costing 38.Joint Venture 39.Journal Entry 40.Just-in-Time41.Key Performance Indicator (KPI) 42.Kurtosis 43.Liabilities 44.LIFO (Last In, First Out) 45.Liquidity 46.Matching Principle 47.Materiality 48.Net Income 49.Noncurrent Assets 50.Nonoperating Income 51.Operating Income 52.Operating Leverage 53.P&L Statement (Profit and Loss Statement) 54.Perpetual Inventory System 55.Preferred Stock 56.Present Value 57.Quick Ratio 58.Reconciliation 59.Return on Investment (ROI) 60.Revenue 61.Risk Management 62.Straight-Line Depreciation 63.Taxable Income 64.Trial Balance 65.Underwriting 66.Valuation 67.Variance Analysis 68.Warranty Reserve 69.Working Capital 70.Working Papers 71.XBRL (eXtensible Business Reporting Language) 72.X-efficiency 73.Year-End74.Yield 75.Zero-Based Budgeting76.Zero-Coupon BondWhat else can you add?#MAKAlpha#TheFinanceMasterclasscoming soon!------------------------------------------- FollowAbdul Khaliq+ 🔔 - Sharing the essence of 20+ years of journey.- I mentor and train finance and account professional. DM for details.- You can download all my work in PDF format by visiting my profile.

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