Letter D: Bookkeeping and Accounting Definitions

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Debenture:

A bond backed only by the credit standing of the issuer, sometimes convertible into stock.

A column on the left of an accounting statement where debts and expenses are recorded.

Debit:

To enter on the debit side of an account. The debit side is the left side.

Debt:

That which one owes, an obligation, or the state of being indebted.

Debtor:

One who is in debt, one who is under obligation to another as for money or goods or for service, benefit or help.

Decrease:

To grow, or cause to grow, less or smaller. To diminish by a gradual process. To reduce. The act, process or state of decreasing.

Deduce:

To derive as a conclusion. To infur or conclude.

Deduct:

To subtract or take away.

Deduction:

The act of deducting. A subtraction or abatement.

Depreciation:

The amount or percentage by which something decreases in value over time, usually one year.

Double-Entry Accounting:

A system of recording transactions in a way that maintains the equality of the accounting equation which is assets=liabilities+owner's equity. The double-entry system records each transaction as both a debit and a credit.

Drawing Account:

A company account from which a company employee may draw money for expenses or as an advance against a future salary payment.

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