1.

Assets: Anything with commercial value, exchange owned by an

individual or entity.

2. Current assets or current Active in a company that can reasonably be

expected to be converted into cash sold or consumed during the normal
operating cycle.

3. Fixed Assets: The long production cycle aimed at quantity rather than for
resale. It includes plant equipment and intangible assets.

4. Deferred assets: Deferred charge; prepaid expense.

5. Ad-valorem "According to their value." It applies to the rates or tariffs

based on a percentage of the invoice value rather than weight or
quantity.

6. Amortization: System settle a future obligation gradually, by a capital

account or by providing money to cover the debt. Gradual reduction of a
debt by periodic payments equal amount sufficient to pay interest and
pay off the current debt at maturity.

7. Payment: Receipts in advance or I disbursement occurred before an

expense is recognized as made.

8. Seat closing: Journal Entry made at the end of an accounting period to

close all accounts of income, expenses and other accounts of the period.

9. Action: Unit capital or name of the holder and indicating that ownership
of a company.

10.Bearer shares: Equity shares of a corporation (or partnership) is

generally an economic society represented by certificates or bearer.

11.Common stock: The class of shares of a corporation or partnership

(anonymous) after considering the rights of the preferred class, if no

limitations, no preference in their participation in the distribution of

surplus earnings a company or in the final distribution of its assets.

12.Preferred shares: Class of shares are entitled to priority over the

common profits of a company and often also on assets upon liquidation
shareholder.

13.Shareholder: The legal owner of one or more shares of capital stock (or
shares) of a company.

14.Prove: Register a credit by accounting entry.

15.Balance sheet: Statement of Financial position of any economic unit,
showing at a particular time the asset, at cost, at the cost of precious or
other specified value.

16.Balance of evidence: List or extract balances or the total of all debits and
credits accounts in more that aims to determine the equality of debits
and credits accented set a basic summary for financial status.

17.Bank reconciliation: State shows the difference between the balance of

an account held by a bank and the relevant account according to
customer books the same bank.

18.Petty Cash: Background of a certain amount of funds for which expenses

are extracted small amounts. This system is commonly used in business.

19.Capital: Net Assets of a corporation, partnership or similar form,

including the original investment and all the earnings and profits
thereon. Amount invested in the company.

20.Account: Record all transactions and the date of each of it affecting a

particular phase of a business. It is expressed in the form of cargo and
fertilizers evaluated in monetary terms and showing in balance act if any.

21.Meter: A device that stores a number and allows to increase it and

decrease it depending on certain instructions.

22.Cost: given by an entity to obtain goods or services value. All costs are
costs but not all costs are expenses.

23.Credit: Part of a registered right journal has the highest seat.

Accompanied sales or purchases a promise after the date on which
payment is made.

24.VAT: International Trade Term used to reflect a condition of sale that

includes the price of the goods, the freight and insurance.

25.FOB: Closing that international seaborne trade for the seller establishes
the following obligations: pay for transportation to the ship and the
loading of the goods, as well as risks that occur until the goods are
placed on board the ship on the agreed date and place.

26.Depreciation: Normally benefits to settle charges against the cost of an

asset less the residual value over its estimated useful life.

27.Income: balance sheet, an income statement (or results); a state

background or state aid or other presentation of financial data derived
from the accounting records.

28.Liability: The funds should a bank. The biggest bank liabilities are
customer deposits.

29.Liabilities: Part of liabilities maturing within a year. It includes providers,

public finance, social security and bank creditors or several short time.

30.Fixed Liabilities: All the debts that do not expire within the subsequent
tax periods (eg mortgages, outstanding bonds)

31.Stockholders' equity: total holdings on the accounting records

represented the interests of the owner.

32.Capital Stock: Capital contributed by shareholders to constitute the

social heritage who gives them their social rights.

33.Subscribed capital contributed by the partners. Check the real

responsibility of shareholders.

34.Capital paid: Total amount in cash, property and services that contribute
to a corporation or its shareholders and usually constitutes an important
item in the balance sheet.

35.Accounts payable Liabilities represented the amount owed by an

individual or company to a creditor for the purchase of goods or services
based on a system of current accounts or short-term credit.

36.Accounts receivable: The owed to a company by sales of goods based on

a system of current accounts.

37.Document: Any printed or described thing that you trust to record or

prove something.

38.Inventory: Raw materials and materials, supplies or supplies, finished

products and manufacturing processes and stock merchandise in transit,
in storage or consigned held by third parties.

39.Income: Money or monetary equivalent that is earned or received as

against starting by selling goods and services.

40.Sales: Transfer of the letter of an asset or assets or the commitment to

hold a service in exchange for a current or future cash payment.

41.Buy: Act by which an operator acquires control of a good (or receives a

service) against payment of a price.

42.Accounting: An adapted to classify economic events occurring in a

business system. So that it constitutes the central axis to perform the

various procedures that will lead to the maximization of economic

performance that involves constitute a particular company.

43.Financial Accounting: It deals mainly of financial statements for use by

those who provide funds to the entity and others who may have a vested
interest in the financial operations of the firm, company or organization.

44.Managerial Accounting: is mainly responsible for the accumulation and

analysis of relevant information for internal use by managers in planning,
control and decision making.

45.Double-entry bookkeeping: the basis of the standard system used by

businesses and other organizations to keep track of financial
transactions. Its premise is that financial conditions and results of
operations of a business (or other organization) are represented fully by
variables, called accounts, each of which reflects a particular aspect of
the business as a monetary value.

46.Single Entry Accounting: A set of annotations that are not based on a

general rule. It considers the spot and forward operations. The former
are recorded as cash inflows or outflows and the second charged or
credited to the account of the correspondent amount resulting debtor or
creditor.

47.Debit: This refers to money that is the property of the client, who has the
change in a bank account, unlike credit where money used is given now.

48.Account: This is the basic and central element in the accounting and
payment services. The accounts represent the classification of all
business transactions that a company or business.

49.Nominal Accounts: These are also called profit or loss are those that are
responsible for registering the development of the social object of the
company. Nominal accounts are comprised of revenues, expenses, cost
of sales and production costs.

50.Real Accounts: Those include the assets, liabilities and liquid capital of
negotiations, and as an integral part of the balance sheet, are called
balance sheet accounts.

51.Creditors: Accounting for acquisitions practice simultaneously in the

Journal of Purchasing, in the accounts of suppliers and in your
statements; and payments made to creditors settle in the Journal of
boxes simultaneously Expenses on this account, it is in the spoils
subjected to a similar account debtors regime.

52.Intangible assets: asset is an identifiable non-monetary in nature and

without physical substance that has to be used in the production or
supply of goods or services, for rental to others or for functions related to
the administration of the entity.

53.Tangible Assets: Part of the assets of a company that has a physical

presence or material.

54.Non-cumulative preference shares: These do not entitle the holder to

receive any dividends approved but requires the issuer to pay only the
currents before paying dividends to ordinary shareholders.

55.Cumulative Preferred stock: is one where dividends are not paid in any
year accumulate future. Before any dividends can be paid to common
shareholders, drag the entire balance must be paid first preferred.

56.Deposits in Transit: Those deposits are usually sent at the end of the
month and these are not accredited in the bank so they will be loaded
onto the books of the company but not the month statement.

57.Storage: It is a financial transaction whereby a financial institution in

return for maintaining certain monetary resources fixed period of time,
reports a variable or fixed financial return in the form of cash or in kind.

58.Notes Receivable: These are accounts receivable documented through

letters, notes or other documents from the only commercial operations.

59.Document payable are those in which consisting unconditional promise

to pay a certain date, a certain amount of money.

60.Current liabilities: It consists of the debts and obligations payable by the

company in the short term or be within a period not exceeding
approximately one year, from the balance sheet date usually paid with
current assets.

61.Long-term liabilities: Includes obligations payable within a period longer

than one year, approximately always from the balance sheet date.

62.Promissory Note: It represents a promise to pay a sum of money in a

stipulated future date.

63.Consignment: the transfer of possession of goods of its owner, called

principal or consignor, and another person, called commission agent or
consignee, who becomes an agent that in order to sell the goods.

64.Tax: A type of tax (generally pecuniary obligations in favor of tax

creditor) governed by public law.

65.Payroll: A manual accounting system consisting of a list of names of each

of the individuals who should receive an office assets.

66.Balance: This is the state that reflects the situation of the assets of an
entity at a given time. The balance sheet structure through three
economic concepts, Assets, Liabilities and Equity, each developed in
groups of accounts that represent the different assets.

67.Budget: The forecast expenditure and income for a certain period,

usually a year. It enables enterprises, governments, private
organizations and families prioritize and assess the achievement of its
objectives.

68.Accounting Cycle: The period of time when all transactions that occur in
a company either monthly, quarterly or annually are recorded; the most
used is the annual.

69.Controller: A system by which a control assistance leads, among other

things. Used to compute the working days of the computer and the
payment of wages is deducted.

70.Dividends: The payment made by a company to its owners, either in

cash or in shares. Company managers meet regularly to decide whether
or not pay dividends, and to determine the amount and form of such
payment.

71.Heritage: The set of assets and liabilities of a person considered as a

universality of law, a legal unit. Heritage is a universal receiver, which is
unchanged by changes to its content.

72.Gross profit: Gross profit for the total of the amounts paid in each
monthly period is considered, without deduction of any amount for any
reason the decrease.

73.Net income: The less all deductions except mentioned above, gross
income tax allowance, special deductions and family responsibilities.

74.Audit: A management function whose purpose is to analyze and assess,

with a view to possible corrective actions, internal controls of
organizations to ensure the integrity of its assets, the accuracy of their
information and the maintenance of efficacy of their management
systems.

75.Private Enterprise: The set of business activities of individuals.

76.Public Enterprise: The created and sustained by the government.

77.Chart of Accounts: Contains all accounts estimated to be necessary

when installing an accounting system. Must contain sufficient flexibility
to incorporate the accounts in the future should be added to the system.

78.Company's shares: organized as a separate company and authorized by

a State where the property is divided into transferable shares of stock
legal entity.

79.Adjust: These are record being made in order to bring real value to the
balance of accounts suffering amortization and depreciation as well as
changes during an accounting period.

80.State of heritage: The reflecting the changes undergone (aumentodecrease) in equity of a business or company.

81.cash flow statement: In this caused changes in cash are presented: the
activities of operations, investment and financing of a company or
business.

82.Cost of sales: The cost incurred to sell an asset, or to provide a service. It

is the value that has been incurred to produce or purchase an asset that
is sold.

83.Special Report: They like the general journals when they are used by the
company must be formalized by a competent authority. These diaries are
used in order to facilitate the accounting records in companies that use
manual accounting system.

84.Debit Note: proof that a company sends to his client, in which he is

reported to have charged or debited the account a certain amount or
value, of the concept indicated in the same note. This document
increases the value of the debt or account balance, either by an error in
billing, interest for late payment, or any other circumstance that means
the increase in the balance of an account.

85.Note 85. Credit is proof that a company sends his client to your client, in
order to inform the accreditation on your account a particular value, the
concept indicated in the same note. Some cases where the credit note
can be used for: breakdown of products sold, sales or lower prices,
returns or discounts, excess or correct errors in billing. The credit rating
decrease debt or the balance of the respective account.

86.Contingent liabilities: It is, in accounting, a possible obligation that arises

from past events and whose existence may result, with some
uncertainty, or a future event that is not reflected in the books not force
the company to an outflow of resources or may not be susceptible of
quantification at that time.

87.sole owner Company: Is that where the owner provides the capital
thereof thus acquiring all the rights of the business and all its
obligations.

88.Corporations: As in CxA membership number can not be less than seven.

This type of company disappears with the death of one of its members
but retains the characteristics of a going immediately regaining his
status with the integration of the beneficiary of the shares. In this the
partners are not fully known by the public.

89.Society of person: These are formed with a minimum of three and

maximum of six. These participants provide both capital and labor and
can be formed with the same legal requirements that the CxA and SA

90.General Journal: This is where all transactions of a business are recorded

daily.

91.General Staff: It controls where the accounts are recorded.

92.Auxiliary Mayor: This is where subsidiary accounts are recorded.

93.Statement: Is depicting the results of a business or enterprise during an

accounting period. This is considered a dynamic status in fact cover
more than one date.

94.Freight: The price of freight transport, which can be set for both the
month, an amount proportional to weight, volume or number of goods
transported or a lump sum.

95.Accounting Principles: These are a set of general rules and accounting

standards that guide to formulate criteria relating to the measurement of
assets and information heritage and economic elements of an entity.

96.Auxiliary Accounts: Those who do not individually listed in the ledger, but
in books or auxiliary records that must be 'controlled' by one or more
collective accounts.

97.Company: Company or board of several people united by a common goal

especially for commercial and industrial purposes.

98.Short-term receivables: Consists of obligations is expected to expire in

less than a year and that are necessary to sustain much of the current
assets of the company, such as cash, accounts receivable and
inventories.

99.Long-term receivables: Includes the accounts that will become effective

in a near future, or is for a term exceeding one year. It comprising
among others the credits and obligations of other entities.