Accounting
Definition: Systematic recording, reporting, and analysis of financial transactions of a business consistent with accepted standards. http://www.moneyglossary.com/ Accounts Payable
Definition (1) : Current liability a company owes to others for goods or services purchased on an open account. Definition: (2) Money owed to suppliers.http://www.moneyglossary.com/ Accounts Receivable
Definition (1) : A current asset owed to a company for goods or services rendered. Definition: (2) Money owed by customers. http://www.moneyglossary.com/ Actual Cost
Definition: Total cost of a product, service, process, or project which is established by the accounting function after the project has been completed. http://www.moneyglossary.com/ Added Value
Definition: Value added to the cost of raw materials by the process of production and distribution. http://www.moneyglossary.com/ Alternative mortgage instruments
Definition (1) : Variations of mortgage instruments such as adjustable-rate and variable-rate mortgages, graduated-payment mortgages, reverse-annuity mortgages, and several seldom-used variations. http://www.moneyglossary.com/ Bank Note
Definition (1) : Noninterest-bearing promissory note of a Federal Reserve Bank issued to serve as money and payable to the bearer on demand. Definition: (2) A term used synonymously with paper money or currency issued by a bank. Notes are, in effect, a promise to pay the bearer on demand the amount stated on the face of the note. Today, only the Federal Reserve Banks are authorized to issue bank notes, i.e. Federal Reserve notes, in the United States. http://www.moneyglossary.com/ Board of Governors of the Federal Reserve System
Definition (1) : The managing body of the Federal Reserve System, which sets policies on bank practices and the money supply.http://www.moneyglossary.com/ Bond
Definition (1) : Written promise to repay money furnished a business, with interest, and at some future date. Bond is a long-term obligation. Definition: (2) Bonds are debt and are issued for a period of more than one year. The US government, local governments, water districts, companies and many other types of institutions sell bonds. When an investor buys bonds, he or she is lending money. The seller of the bond agrees to repay the principal amount of the loan at a specified time. Interest-bearing bonds pay interest periodically. http://www.moneyglossary.com/ Bookkeeping
Definition: Practice of recording a company's financial transactions in a systematic manner. http://www.moneyglossary.com/ Budget Deficit
Definition (1) : Amount by which out-go exceeds income. Definition: (2) The amount by which government spending exceeds government revenues. http://www.moneyglossary.com/ Cash
Definition (1) : Money on hand or in the bank. Definition: (2) The value of assets that can be converted into cash immediately, as reported by a company. Usually includes bank accounts and marketable securities, such as government bonds and banker's acceptances. Cash equivalents on balance sheets include securities that mature within 90 days.http://www.moneyglossary.com/ Capital
Definition: Combination of liquid and fixed assets available to operate a business, the excess of assets over liabilities. Definition: (2) Money invested in a firm.http://www.moneyglossary.com/ Central Bank
Definition (1) : A country's formal bank. Definition: (2) ] A country's main bank whose responsibilities include the issue of currency, the administration of monetary policy, open market operations, and engaging in transactions designed to facilitate healthy business interactions. http://www.moneyglossary.com/ Collateral
Definition (1) : Security in the form of assets, either real or personal property, which a company pledges to a lender. The lender may repose and sell the collateral to retire the obligation. Lenders often call collaDefinition: teral their secondary source of repayment. Definition (2) : In the context of project financing, additional security pledged to support the project financing. http://www.moneyglossary.com/ Commercial Bank
Definition (1) : Bank that provides checking and savings accounts, short-term loans, and related services. Definition: (2) Bank that offers a broad range of deposit accounts, including checking, savings and time deposits and extends loans to individuals and business. Commercial banks can be contrasted with investment banking firms, such as brokerage firms, which generally are involved in arranging for the sale of corporate or municipal securities. Comptroller of the Currency
Definition (1) : A government official, appointed by the President of the United States, who keeps control over all national banks, and receives reports from the banks at least quarterly, to be published in newspapers. Corporation
Definition (1) : Preferred type of business organization chartered by a state and given many rights of a separate entity. Corporation's ownership is divided into shares of stock and distributes its net profits in the form of dividends to shareholders. Lenders prefer to deal with a corporations, rather than a sole proprietorships. A legal entity that is separate and distinct from its owners. A corporation is allowed to own assets, incur liabilities, and sell securities, among other things. Council of Economic Advisers
Definition (1) : A group of economists appointed by the President of the United States to provide economic counsel and help prepare the president's budget presentation to Congress. Currency
Definition: Paper money issued by the government. Double-Entry Bookkeeping / from Businessdictionary.com
System of keeping accounting records that recognizes the dual nature (source and disposition) of every financial transaction expressed by the basic accounting equation (Assets = Liabilities + Owners' Equity). In this system, every transaction is entered twice in the account booksâfirst, to record a change in the assets' side (called a 'debit') and, second, to mirror that change in the equities' side (called a 'credit'). If all entries are recorded accurately, the account books will 'balance' because the total of debit entries will equal the total of credit entries. Double entry bookkeeping is used universally, except in very small or cash-transactions based firms which use 'single entry bookkeeping.' Invented in the 13th century by Venice merchants, it was formalized by the Italian monk Luca Pacioli (1445-1517) in the 1494 book 'Summa de Arithmetica, Geometrica, Poroportioni et Proportionaltie.' |