About Accounting vocabulary Word List

Accounting is the process of record financial transactions pertaining to a business or organization company. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, financial position, summarizing a company’s operations, and cash flows.

List of Accounting Vocabulary Word List: IELTS & GRE Exam vocabulary

Accounting	Accounts Payable	Accounting Equation
Accounts Receivable	Accrual Accounting	Accruals
Amortization	Asset	Audit Trail
Auditors	Balance Sheet	Bookkeeping
Budgeting	Capital Stock	Capital Surplus
Capitalized Expense	Cash Flow	Cash Basis Accounting
Chart of Accounts	Closing the Books	Cost Accounting
Credit	Debit	Departmental Accounting
Depreciation	Dividends	Double Entry Bookkeeping
Equity	Financial Accounting	Financial Statement
Fixed Asset	General Ledger	Goodwill
In The Black	In The Red	Income Statement
Inventory	Inventory Valuation	Invoice
Job Costing	Journal Liability	Liquid Asset
Loan	Master Account	Net Income
NonCash Expense	Nonoperating Income	Note Operating Income
Other Income	Payroll	Posting
Profit	Profit/Loss Statement	Reconciliation
Retained Earnings	Revenue	Shareholder Equity
SingleEntry Bookkeeping	Statement of Account	Subsidiary Accounts
Supplies	Transaction	Treasury Stock
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