Letter C: Bookkeeping and Accounting Definitions

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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Calculate:

To determine by computation or arrive at by arithmetical means. To estimate or determine after deliberation.

Capital:

Money that can be used to produce further wealth.

Capital Asset:

An asset of a business that is central to its operation and is not traded.

A statement of the amount and value of a business at a given time, consisting of two columns representing assets and liabilities balanced by profit and loss, indicating a surplus or a deficit.

Capital Expenditure:

Expenditure for permanent additions or improvements to property, as opposed to money spent for repairs.

Capital Gain:

Profit from the sale of capital investments, such as stocks and real estate.

Capital Goods:

Materials used in industry in the production of consumers' goods.

Capital Stock:

The amount of stock that a company issues or the value of that stock.

Capitalism

An economic system in which the means of production and distribution are for the most part privately owned and operated for private profit. Also the possession and concentration of private capital and its resulting power and influence.

Capitalist

One who shares in or adheres to capitalism. Also an owner of capital especially someone who has large means employed in productive enterprise.

Capitalize

To convert into captial or cash. To invest for profit or provide capital.

Career:

A course of business, activity, or enterprise. A course of professional life or employment.

Cash:

Current money in hand or readily available.

Cash Basis:

The recording of a business's profit and loss based on the amounts received and paid out rather than on transactions for which money may actually change hands later.

Cash Control:

The system by which a company monitors the accuracy of its cash receipts and disbursements.

Cash Discount:

A discount from the purchase price allowed the purchaser provided he pays within a stipulated period.

Cash Flow:

The pattern of income and expenses, and its consequences for how much money is available at a given time.

Chart of Accounts:

A chart explaining the numerical codes identifying the ledger accounts in an accounting system.

Closing:

Forming or connected with the final part of an activity or period of time.

A company recognized by law as a single body with its own powers and liabilities, separate from those of the individual members. Corporations perform many of the functions of private business, governments, educational bodies, and the professions.

Cost:

To calculate the price or expense of something.

Cost Accounting:

Accounting that is concerned with providing detailed information on the cost of producing something or carrying out an operation in a business.

Cost of goods sold:

The cost of materials and labor required to build a product.

Credit Memo:

The deduction from a business account of an amount owed that has been paid.

Credits:

The right-hand side of an account record, where payments to the account are recorded.

Current Assets:

Available cash and other assets that could be converted to cash within a year.

Current Liabilities:

Business liabilities that are due to be cleared before the end of the financial year.

Current Ratio:

The ratio of current assets to current liabilities.

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