Words Used In Financial Accounting

Learn the words you need.

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As with most specialist fields, accounting has its own vocabulary of terms and phrases that have very particular meanings. Unfortunately, these definitions are often far from intuitive, and they can often seem confusing or even intimidating!

This Mind Tools "Words" page is designed to help you navigate your way through the minefield of financial accounting 'speak': It provides a quick reference glossary of words and phrases commonly used in the accounting departments of organizations. This "Words" page covers the following terms:

Balance Sheet Items

Income Statement Items

Terms are defined below:

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