This practical glossary compiles a list of over 150 most common accounting terms you’re likely to encounter in alphabetical order.
Most Important Accounting Terms You Should Know
Entering into the accounting field can be a little confusing at first with all of the new terminologies to learn. Don’t feel left out in conversations and don’t be left behind because you aren’t sure what someone is talking about.
This practical glossary compiles a list of over 150 most common accounting terms you’re likely to encounter.
Whether you’re studying accounting in school, working in the accounting department of an international organization or just reviewing financial statements as an investor, you may occasionally encounter terminology that’s unfamiliar.
This accounting glossary is a handy reference for:
- Starting your first big job
- Learning these terms before your accounting classes
- Completing undergraduate work
- Preparing for the CPA exam
- Small business owner
- Reading financial statements
Every accounting term is explained in detail, with clear and concise article style description and practical examples.
As a small business owner, one of the first things you should do is make sure you have a basic understanding of accounting terms. Knowing at least a few accounting key terms will make you a much more well-rounded and versatile business owner.
Make Accounting Less of a Mystery
If you do all of your own bookkeeping, understanding basic accounting terminology – that applies to business – helps you prepare your tax return, understand financial reports, and communicate with others about your business’s financial position.
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‘User Friendly and Practical’
Another great course by Thomas Herold! Above all, it’s down-to-earth and applicable to real life business situations. The explanations are simple and clear and easy to follow along. Although I do have previous accounting experience, I learnt a lot of new things about the accounting processes, such as what steps are required to take place before a transaction can be recorded, what accompanying documents are needed and what the principles and methods of cash controls are. Additionally, Herold is very responsive and always willing to help with detailed explanations.
‘Concise and to the Point’
This book provided me with a crash course on the accounting world. It was an excellent refresher and this audiobook can easily be listen in just a few sittings.
I suppose the only think feel to make note, and the author even says this in the introduction, is that this book couldn’t possibly cover all there is to know about accounting. As the title would suggest, there is a lot more to learn, and a lot more in depth these topics can be. With that being said, I think this book does an excellent job bringing together all of the important aspects in accounting.
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