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Resources owned by a company which have economic value that can be converted into cash.

The amount of money that would be returned to a company’s shareholders if all the assets were liquidated and all the company's debts were paid off.

A company's total earnings, being the difference between revenue and expenses when revenue is greater.

Obligations owed by a company to parties other than its owners with settlement expected to result in an outflow of resources embodying economic benefits.

The costs incurred in the process of generating revenues.

The total amount of money generated by the sale of goods or services related to the company's primary operations.

An accounting method where revenue and expenses are recorded when they are earned, regardless of when the money is actually received or paid.

A financial ratio indicating the relative proportion of shareholders' equity and debt used to finance a company's assets.

An accounting system that requires the recording of a transaction as both a debit and credit in separate accounts.

The method used to record all individual financial transactions made by a company into its journal.

An internal report that lists each account name and balance in the general ledger, in columns that total to zero when accounting for all debits and credits.

Generally Accepted Accounting Principles; a collection of commonly-followed accounting rules and standards for financial reporting.

An independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon.

The money owed to a company by its debtors.

A financial statement that shows how much revenue a company earned over a specific time period as well as the costs and expenses associated with earning that revenue.

The process of spreading out a loan or an intangible asset over time.

A measure of a company's ability to meet its short-term obligations with its most liquid assets.

An accounting expense recognized in the books before it is paid for; it is a liability, and is usually current.

An entity's ability to pay its long-term debts and financial obligations.

A measure of a company's ability to pay off its short-term liabilities with its current assets.

Long-term tangible assets that are used in the operations of a business and are not likely to be converted to cash within a year.

A financial statement that provides aggregate data regarding all cash inflows a company receives from its ongoing operations and external investment sources, as well as all cash outflows that pay for business activities and investments during a given period.

The process a business undertakes to evaluate potential major projects or investments.

The reduction in the value of an asset with the passage of time, due in particular to wear and tear.

A one-year period that companies and governments use for financial reporting and budgeting, distinct from a calendar year.

An accounting entry that either increases a liability or equity account, or decreases an asset or expense account.

A relative magnitude of two selected numerical values taken from a company's financial statements.

A financial ratio that compares some form of owner's equity (or capital) to borrowed funds.

An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.

Money received by a company for goods or services that have yet to be delivered or provided.

A liquidity ratio that measures a company's ability to pay short-term obligations or those due within one year.

A financial statement that reports a company's assets, liabilities, and shareholder equity at a specific point in time.

The direct costs attributable to the production of the goods sold by a company.

An account used in a general ledger to reduce the value of a related account.

A comprehensive record of all the financial transactions of a company, which is used to compile financial statements.

The amount of money owed by a company to its creditors for goods or services bought on credit.

The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.

The recording, on a day-to-day basis, of the financial transactions and information pertaining to a business.

An accounting figure that measures the amount of profit realized from a business's operations, after deducting operating expenses such as wages, depreciation, and cost of goods sold.

Return on Investment; a measure used to evaluate the efficiency or profitability of an investment.

A ratio showing how many times a company has sold and replaced inventory during a given period.

A measure of a company's operational efficiency and short-term financial health.

A fundamental principle of accrual accounting which dictates that expenses should be recognized in the same period as the revenues to which they relate.

Costs that change in proportion to the good or service that a business produces.

The cumulative amount of profits that have been saved and reinvested into the company rather than paid out as dividends to shareholders.