Letter A: Bookkeeping and Accounting Definitions

Accounting Definitions Starting with the Letter A

There are 100's of accounting definitions, bookkeeping terms and bookkeeping definitions here in my accounting terms glossary.

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ACCOUNTING DEFINITIONS STARTING WITH THE LETTER A

Account:

A statement of transactions.

Accountable:

To be responsible or answerable.

Accountant:

A person whose profession is accounting.

Accounting:

The system of organizing, maintaining, and auditing the financial records of a company or an individual.

Accounting Equation:

A fundamental balance sheet equation, such as liabilities + net worth = assets.

Accounts Payable:

A record that shows how much a company owes suppliers for the purchase of goods or services on credit.

Accounts Receivable:

A record that shows how much is owed to a company by customers who have purchased goods or services on credit.

Accredit:

To certify as meeting all requirements.

Accrual Basis:

A commonly used accounting method, that reports income when earned and expenses when incurred.

Accrue:

To be added as a periodic gain.

Accrued Expenses:

An expense that has been incurred but not yet paid for in a particular accounting period.

Accrued Income:

Income that has been earned but not yet received in a particular accounting period.

Accrued Liability:

A debt that has been incurred but not yet paid that appears on the balance sheet.

Accumulate:

To collect or gather over a period of time.

Accurate:

Conforming carefully to truth or fact.

Achieve:

To bring to a successful end, or to get by effort.

Acknowledge:

To recognize the authority, validity, or claims of.

Acquire:

To get possession of, or to gain through one's efforts.

Acquisition:

The act or instance of getting possession, or something acquired.

Activate:

To make active.

Actuary:

A person who computes insurance risks, premiums, etc.

Adjust:

To make necessary or desirable changes.

Adjusting Entries:

A bookkeeping entry made in order to correct an entry for an earlier accounting period.

Administer:

To manage affairs, or to bring into use or operation.

Administrative Expenses:

An expense relating to the administration of a business, organization, or institution.

Advice:

An opinion offered as a guide to action, or a communication containing information.

Affiliate:

To be united, or a person or concern that is affiliated.

Aggregate:

Formed by the collection of particulars into a mass.

Agreement:

An arrangement accepted by all parties, or a document delineating such an arrangement.

Algorithm:

A set of rules for solving a problem in a finite number of steps, as for finding the greatest common divisor.

Allowance:

A reduction in price, as for damage.

Amend:

To modify a motion, bill, etc., or to improve, rectify or become better by reforming.

Amendment:

The act of amending or state of being amended, or an alteration of or addition to a bill, constitution, etc., a change.

Amortization:

To write off the cost of an asset over a period of time in a statement of accounts.

Amortization Expense:

The yearly amount of cost of an asset that is written off.

Amortize:

To liquidate by periodic payments.

Amount:

The total of two or more quantities.

Analysis:

The process of studying the nature of something or of determining its essential features.

Analize:

To examine critically.

Apparent:

To be easily visible or easily perceived.

Assess:

To estimate officially the value of property for taxation.

Assets:

A quantity or degree of something, considered as a unit or total.

Authority:

The power to judge, act, or command.

Authorize:

To give authority or power to, or to sanction formally.

Axiom:

A universally accepted principle or rule.

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