A abandonment abatement aboriginal above par absorb absorption costing accelerated depreciation acceptance acceptance of bill of exchange accepted

draft (bill) acceptor account account form account payable account receivable account sales accountant accounting assumption accounting bases accounting concepts accounting control accounting convention accounting cycle accounting entity accounting equation accounting errors accounting framework accounting identity accounting period accounting policy accounting principles accounting procedure (1)(2) (1)(2) () (1)(2)(3) (1)(2)
1

accounting ratio accounting records accounting report accounting standards accounting statement accounting system accounting theory accounting transaction accounting year accrual accrual concept accrual date accrued asset accrued basis accrued depreciation accrued dividend accrued expenses accrued income accrued items accumulated depreciation accumulated dividend accumulated fund acid test acquisition accounting acquisition cost ad valorem duty added value adequate disclosure adjusting entry adjusting events adjustment administration admission of new partner advance affiliated company ageing schedule for doubtful debts

/
2

agent aggregate depreciation allocate allotment allowance alteration of capital amalgamation amortization amount of annuity annual audit annual general meeting annual report annual return annuity annuity depreciation method anticipated profit application and allotment account application of fund apportionment appraise appreciation appropriation appropriation account appropriation depreciation method arms length transaction arrears article method article of association as at asset assignment associated company association at cost at market at par

(1)(2) (1)(2)(3)
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at sight attributable profit audit auditors remuneration auditors report authorised capital available cash average collection period average cost average stock

B bad debt bad debt recovery bailee bailment bailor balance balance sheet balancing off accounts bank charge bank discount bank draft bank loan bank note bank overdraft bank reconciliation statement bank statement bankruptcy base stock bearer cheque bearer share below par bill of exchange bill payable bill receivable bill machine board of directors bond bond dividend bonus bonus issue bonus share book inventory book of original entry (1)(2)
5

book value bookkeeping cycle bought day book branch account breakeven analysis breakeven point breakeven chart broker brokerage brought down brought forward budget business combination business corporation business enterprise business entity business entity concept

C calendar year call called-up capital calls in advance calls in arrear capital capital allowance capital budgeting capital deficiency capital donation capital employed capital expenditure capital gain capital gearing capital maintenance capital reconstruction capital redemption reserve capital reduction capital reorganization capital reserve capital structure capitalization carriage inwards carriage outwards carried down carried forward cash at bank cash banked cash basis cash book cash budget cash discount cash dividend
7

cash flow cash forecast cash in hand cash in transit cash on delivery cash over and short cash sale cash statement casting category method circulating asset circulating capital clearing house closing date closing entry closing stock closing the books club accounts co-operative society co-ordinate co-ordinate system co-partner columnar account columnar presentation commission commodity common carrier common stock company company accounts company act company law company limited by guarantee company limited by shares company ordinance comparative balance sheet

(1)(2) (1)(2)
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comparative statement compensating error compensatory balance completed transaction conservatism consignment consistency consolidated balance sheet consolidated financial statement consolidated group consolidated income statement consolidated surplus consolidated working fund consolidation goodwill constituent company container accounts contingency contingent annuity contingent asset contingent charge contingent fund contingent liability contingent reserve continuity postulate contra account contra entry contract authorization contract price contributed capital contributed surplus contribution margin control control account controllable cost controlled company controller

(1)(2)
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controlling account controlling company controlling interests convention convertible bond convertible loan stock copyright corporation corporation tax correcting entry correction of errors cost cost accounting cost allocation cost concept cost control cost of completed goods cost of control cost of goods manufactured cost of goods sold cost of production cost-plus credit credit control credit line credit memorandum credit note credit sale credit transfer creditor creditors ledger creditors ledger control account crossed cheque cum dividend cumulative dividend

(1)(2)(3)(4) (5)(6)
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cumulative preference share currency current current account current asset current cost current cost accounting current expenditure current fund current investment current liability current price current purchasing power current ratio current replacement cost current return customers ledger cut-off cut-off date cut-off procedure

(1) (2)

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D data date of acquisition day book days of grace debenture debenture capital debit debit memorandum debit note debt debt discount debt-equity ratio debtor debtor/creditor ratio debtors ledger debtors ledger control account decentralize decentralized branch accounting system declaration declared dividend declared value declining-balance method decrement deed deed of trust default deferment deferral deferred asset deferred charge deferred expenditure deferred liability deficiency (1)(2)(3)(4) / (1)(2)
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deficiency account deficiency appropriation deficit del credere del credere agent del credere commission delivered price departmental account departmental charge departmental margin departmental overhead departmental profit departmentalization depleted cost depletion unit depreciation method deposit depreciable amount depreciable asset depreciation depreciation fund depreciation rate depreciation reserve depreciation unit devaluation diminishing balance depreciation method direct cost direct costing direct credit direct debit direct expenses direct labour direct material direct shipment direct write-off method directors emolument

(1)(2)(3) (1)(2)
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directors remuneration directors report directors disbursement disclosure requirements discount discount on debenture discount on share discounting bill of exchange discounts allowed discounts received dishonour dishonoured cheque disposal of asset dissolution distribution distribution expense dividend dividend cover dividend policy dividend yield documentary evidence documents donation dormant partner double column system double-entry bookkeeping doubtful debts down payment draft drawee drawer drawings dual aspect concept duality due

(1)(2)(3) (1)(2)
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duty duty drawback

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E earmark earning earning power earning-capacity value earnings per share elimination embezzlement emolument encumbrance endorsement endowment fund enterprise entity entity concept equal-annual-payment depreciation method equalization reserve equity error error of commission error of omission error of original entry error of principle errors and omissions excepted (E&OE) estimate evidence ex ex-dividend ex-right exceptional item exchange executor exemption (1)(2) (1)(2)() () (1)(2))
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expected value expenditure expense account expired cost exposure draft extra dividend extraordinary income extraordinary items extraordinary loss extraordinary profit

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F face value factoring factory cost factory expenses factory overhead fictitious asset final accounts final call final dividend financial statement financial year finished goods finished stock fire loss first-in-first-out (FIFO) fiscal period fiscal year fixed asset fixed capital fixed instalment method fixed liability fixed overhead fixtures and fittings flexible budget floating asset floating capital floating charge folio reference forecast foreign corporation foreign currency foreign exchange forfeited share
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forgery formal formation expense founders share franchise fraud free currency free price freedom from bias freehold freehold land freight freight inward freight outward fringe benefit full disclosure full liability fully paid share fund fund flow fund statement fundamental accounting concepts futures price

(1)(2)

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G gain gain or loss garner vs murray rule gearing gearing ratio general balance sheet general expenses general fund general journal general ledger general operating expenses general overhead general partner general reserve generally accepted accounting principles gilt-edged securities going concern going concern concept goods goods in progress goods in transit goods on consignment goodwill gross gross book value gross loss gross proceeds gross profit gross profit on sales gross profit ratio gross revenue gross sale group accounts
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H head office head office current account heat, light and power hedging high geared hire purchase account historical cost holding company holding gain or loss holding period horizontal analysis of statement

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I idle capacity idle equipment impersonal accounts imprest cash imprest fund imprest system income income account income and expenditure account income and expense income statement income tax incoming partner incomplete records incorporation increment indebtedness indenture indirect cost indirect expense indirect labour indirect manufacturing cost indirect material inherent goodwill insolvency insolvent partner instalment instalment sale insurance intangible intangible asset intangible value interbranch accounts
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intercompany profit intercompany transactions interdepartmental profit interest interfirm comparison interim interim closing interim dividend interim report internal check internal control internal transaction interpretation intrafirm comparison intragroup indebtedness inventory invested capital investment investment appraisal investment company invoice invoice cost irredeemable stock issued at a discount issued at a premium issued at par issued capital

(1)(2) (1)(2)

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J joint account joint ownership joint venture journal journal entry journalize

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l labour lag land and building last-in-first-out (LIFO) lease leasehold ledger ledger control legacy leverage levy liability limited company limited partner limited partnership liquid asset liquid capital liquidation liquidity ratio listed company loading charges loan loan capital loan interest long-term contract long-term investment long-term lease long-term liability loss loss ratio low geared lower of cost or market (1)(2) (1)(2) (1)(2) (1)(2)
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lower of cost or net realizable value lump sum

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M machine hour depreciation method maintenance reserve management accounting manufacturing account manufacturing cost margin marginal balance mark-down mark-up market price market value matching concept material material cost materiality maturity maximum stock level memorandum joint venture account memorandum of association merchandise merger minimum stock level minority balance minority interest misappropriation miscellaneous expense mixed account money measurement concept mortgage mortgage bond mortgagee mortgagor

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N narrative negative goodwill negotiable instruments net net asset net asset value net book value net current asset net income net loss net operating income net operating profit net present value net proceed net profit net profit on sales net purchases net realizable value net sales net working capital net worth no-par-value capital stock nominal account nominal capital nominal ledger nominal value non-adjusting events non-cumulative preference share non-operating non-profit-marking organization note noting charges (1)(2)

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O objectivity obligation obsolescence office equipment office expense office furniture offset on account on consignment on credit on demand on hand open account opening balance opening entry operating operating company operating cost operating cycle operating income operating profit operating ratio ordinary share original cost original entry outgoing partner outlay output outstanding outstanding cheque outstanding expense outstanding liability over valuation over-the-counter
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over-trading overcast overdraft overdue overhaul expense overhead overriding commission overstatement oversubscription owe owners equity ownership

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p packing expense paid-in surplus paid-up capital paper profit par par value parent company participating preference share particulars partner partnership past due patent payable payback method payee payment payment by instalments payment in advance payment in arrears payment on account payroll pension pension fund percentage statement periodic inventory system perpetual inventory system personal account personal income personal liability personal property petty cash petty cash book (1)(2) (1)(2) (1)(2) (1)(2)
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petty cash voucher physical stock taking piecemeal distribution piecemeal realization pilferage control plant and equipment plant and machinery pledge position statement post balance sheet events post-acquisition profit or loss post-closing balance sheet post-closing trial balance post-dated cheque posting pre-acquisition profit or loss pre-closing trial balance preemptive right preference share preference share dividend preliminary expenses premium prepaid expenses prepayment present value price earning ratio price level adjustment statement prime cost prime entry principal principles prior year adjustment private ledger private limited company pro forma

(1)(2)(3) (1)(2)
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pro forma balance sheet pro forma invoice pro forma statement pro rata proceeds production budget production control production cost production overheads production-unit-basis depreciation method productivity professional accountants professional ethics profit and loss account profit and loss appropriation account profit planning profitability profitability ratio promissory note promoters shares property proposed dividend proprietary interest proprietor proprietorship prospectus protest a bill protest fee provision provision for bad debts provision for depreciation provision for discounts allowed provision for unrealized profit prudence public limited company
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published accounts purchased goodwill purchases purchases contract purchases journal purchases ledger purchases ledger control account purchases returns purchases returns book purchasing power pure profit put option pyramid ratio

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Q quality control quantifiability quasi partner quasi reorganization quick asset quick liability quick ratio quotation quoted company quoted market price quoted securities investment

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R rate rate of exchange rate of interest rate of return rate of stockturn rate of turnover ratio ratio analysis raw material real account real cost real price real value real wages realizable income realizable value realization account realization concept realization expense realize realized appreciation realized profit realized revenue realty rebate recapitalization receipt receipts and payments account receivership accounts reconciliation statement reconstruction recoup (1)(2)
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recovery recurrent expenditure red-herring prospectus red-ink entry redeemable preference share redemption reducing balance depreciation method refund registered capital reimbursement relevance reliability remittance slip renegotiation renewal renewal or replacement fund rent reorder level reorganization repairs and maintenance replacement cost replacement depreciation method report form repossession requisition resale research and development cost reserve reserve for amortization reserve for bad debts reserve for contingencies reserve for depletion reserve for depreciation reserve fund residual cost

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residual value resolution resource restore retail price retained earning retained profit retired bill retired partner retirement retroactive basis return on capital employed return on investment returns inwards returns inwards book returns outwards returns outwards book revaluation depreciation method revaluation reserve revenue revenue expenditure revenue receipt revenue reserve revenue statement reversing entry right rights issue risk capital royalty royalty interest

(1)(2)(3)(4) (1)(2)

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S salary sales sales allowance sales book sales budget sales commission sales day book sales discount sales invoice sales journal sales ledger sales ledger control account sales returns sales returns book salvage value scrap value scrap dividend scrap issue secret partner secret reserve sectional ledger secured securities self-balancing selling and administrative expenses share share bonus share capital share premium share subscription shareholder short-term liability sight draft (1)(2) (1)(2)
39

single-entry bookkeeping sinking fund sinking fund bond sinking fund depreciation method sole proprietorship sole trader solvency stable unit of measurement stale cheque stamp duty standard cost standing order stated value statement statement of account statement of affairs statement of changes in financial position statement of revenue and expenditure statement of source and application of fund statement of standard accounting practice(SSAP) statutory books statutory reserve stewardship concept stock stock control stock exchange stock in hand stock level stock reserve stock taking stock turnover stock valuation

(1)(2) (1)(2) (1)(2)(3)

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straight-line depreciation method subscribe subscription subsidiary account subsidiary company sum-of-the-years-digits depreciation method sundry expense super profit surplus surrender value suspense account

41

T T account take-over takings tangible asset tariff tax terminal value time draft timeliness total account total creditors account total debtors account trade association trade creditors trade debtors trade discount trade mark trade-in value trading account trading capital trading profit transaction transportation-in transportation-out transposition error travelling expense trial balance true and fair view trust deed trust fund turnover T (1)(2)
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U ultra vires uncalled capital unclaimed dividend under capitalization undercast understatement undersubscription undervaluation underwrite (1)(2) undistributed profit unearned income unit cost unit depreciation method unit summation depreciation method unlimited company unlimited liability unpaid dividend unpresented cheque unquoted investment unrealized profit unsecured

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V valuation account variable costing variable expenses variable overhead vendee vendor verifiability vertical analysis vertical form voucher

44

 wages wasting assets wear and tear weighted average winding-up window dressing withdrawal work certified work-in-progress working asset working capital working capital fund working capital ratio write off written down value

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Y year-end adjustment year-end dividend yield yield method yield ratio yield to maturity (1)(2)

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