Dictionary of 1000 Accounting Terms_part2

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Accounting.fm Page 20 Tuesday, February 13, 2007 1:40 PM balance sheet 20 balance sheet / b ləns ʃi t/ noun a (called a ‘balloon payment’) is larger than balance sheet the others statement of the financial position of a com- pany at a particular time, such as the end of BALO noun a French government publica- BALO the financial year or the end of a quarter, tion that includes financial statements of showing the company’s assets and liabilities public companies. Full form Bulletin des Our accountant has prepared the balance Annonces Légales Obligatoires sheet for the first half-year. The company bank /b ŋk/ noun a business which holds bank balance sheet for the last financial year money for its clients, lends money at inter- shows a worse position than for the previous est, and trades generally in money the year. The company balance sheet for 1984 First National Bank the Royal Bank of shows a substantial loss. Scotland She put all her earnings into the COMMENT: The balance sheet shows the bank. I have had a letter from my bank state of a company’s finances at a certain telling me my account is overdrawn. í verb date. The profit and loss account shows the to deposit money into a bank or to have an movements which have taken place since account with a bank He banked the cheque the end of the previous accounting period. A as soon as he received it. I bank at or with balance sheet must balance, with the basic equation that assets (i.e. what the company Barclays. owns, including money owed to the compa- bankable / b ŋkəb(ə)l/ adjective accept- bankable ny) must equal liabilities (i.e. what the com- able by a bank as security for a loan pany owes to its creditors) plus capital (i.e. what it owes to its shareholders). A balance bankable paper / b ŋkəb(ə)l peipə/ bankable paper sheet can be drawn up either in the horizon- noun a document which a bank will accept tal form, with (in the UK) liabilities and capital as security for a loan on the left-hand side of the page (in the USA, bank account / b ŋk ə kaυnt/ noun an bank account it is the reverse) or in the vertical form, with | assets at the top of the page, followed by li- account which a customer has with a bank, abilities, and capital at the bottom. Most are where the customer can deposit and with- usually drawn up in the vertical format, as draw money to open a bank account to opposed to the more old-fashioned horizon- close a bank account How much money do tal style. you have in your bank account? If you let balance sheet asset value / b ləns balance sheet asset value the balance in your bank account fall below ʃi t set v lju / noun the value of a com- $1,000, you have to pay bank charges. pany calculated by adding together all its bank advance / b ŋk əd vɑ ns/ noun bank advance assets | same as bank loan She asked for a bank balance sheet audit / b ləns ʃi t balance sheet audit advance to start her business. ɔ dit/ noun a limited audit of the items on a bank balance / b ŋk b ləns/ noun the bank balance company’s balance sheet in order to confirm state of a bank account at any particular time that it complies with the relevant standards Our bank balance went into the red last and requirements month. balance sheet date / b ləns ʃi t deit/ balance sheet date bank base rate / b ŋk beis reit/ noun bank base rate noun the date (usually the end of a financial a basic rate of interest, on which the actual or accounting year) when a balance sheet is rate a bank charges on loans to its customers drawn up is calculated. Also called base rate balance sheet equation / b ləns ʃi t i balance sheet equation bank bill / b ŋk bil/ noun 1. a bill of | bank bill kwei (ə)n/ noun the basis upon which all exchange by one bank telling another bank, accounts are prepared, that assets = liabili- usually in another country, to pay money to ties + assets someone 2. same as banker’s bill 3. US balance sheet total / b ləns ʃi t balance sheet total same as banknote təυt(ə)l/ noun in the United Kingdom, the bank book / b ŋk bυk/ noun a book bank book total of assets shown at the bottom of a bal- given by a bank or building society which ance sheet and used to classify a company shows money which you deposit or with- according to size draw from your savings account or building balancing item / b lənsiŋ aitəm/, bal- balancing item society account. Also called passbook ancing figure / b lənsiŋ fi ə/ noun an bank borrowings / b ŋk bɒrəυiŋz/ bank borrowings item introduced into a balance sheet to make plural noun money borrowed from banks the two sides balance bank card / b ŋk kɑ d/ noun a credit bank card balloon /bə lu n/ noun a loan where the balloon card or debit card issued to a customer by a | last repayment is larger than the others bank for use instead of cash when buying balloon mortgage /bə lu n mɔ id / balloon mortgage goods or services (NOTE: There are interna- | noun a mortgage in which the final payment tionally recognised rules that govern the
Accounting.fm Page 21 Tuesday, February 13, 2007 1:40 PM 21 bank reconciliation authorisation of the use of bank cards and bank holiday bank holiday / b ŋk hɒlidei/ noun a the clearing and settlement of transactions weekday which is a public holiday when the in which they are used.) banks are closed New Year’s Day is a bank holiday. Are we paid for bank holidays in bank certificate / b ŋk sə tifikət/ noun bank certificate | this job? a document, often requested during an audit, that is signed by a bank official and confirms bank identification number bank identification number / b ŋk the balances due or from a company on a aidentifi keiʃ(ə)n n mbə/ noun an inter- | specific date nationally organised six-digit number which bank charge / b ŋk tʃɑ d / noun same bank charge identifies a bank for charge card purposes. as service charge Abbreviation BIN bank confirmation / b ŋk bank confirmation banking banking / b ŋkiŋ/ noun the business of kɒnfəmeiʃ(ə)n/ noun verification of a banks He is studying banking. She has company’s balances requested by an auditor gone into banking. from a bank banking account banking account / b ŋkiŋ ə kaυnt/ | bank credit / b ŋk kredit/ noun loans bank credit noun US an account which a customer has or overdrafts from a bank to a customer with a bank bank deposits / b ŋk di pɒzits/ plural bank deposits banking covenants banking covenants / b ŋkiŋ | noun all money placed in banks by private or k vənənts/ plural noun a set of conditions corporate customers imposed by a bank when it lends an institu- bank draft / b ŋk drɑ ft/ noun an order bank draft tion a large amount of money by one bank telling another bank, usually in Banking Ombudsman Banking Ombudsman / b ŋkiŋ another country, to pay money to someone ɒmbυdzmən/ noun an official whose duty banker / b ŋkə/ noun 1. a person who is banker is to investigate complaints by members of in an important position in a bank 2. a bank the public against banks the company’s banker is Barclays banking products banking products / b ŋkiŋ prɒd kts/ banker’s acceptance / b ŋkəz ək banker’s acceptance | plural noun goods and services produced by septəns/ noun a bill of exchange guaran- banks for customers, e.g. statements, direct teed by a bank debits Bankers’ Automated Clearing Serv- Bankers’ Automated Clearing Services bank loan bank loan / b ŋk ləυn/ noun a loan made ices / b ŋkəz ɔ təmeitid kliəriŋ by a bank to a customer, usually against the s visiz/ plural noun full form of BACS security of a property or asset She asked banker’s bill / b ŋkəz bil/ noun an order banker’s bill for a bank loan to start her business. Also by one bank telling another bank, usually in called bank advance another country, to pay money to someone. bank manager bank manager / b ŋk m nid ə/ noun Also called bank bill the person in charge of a branch of a bank banker’s credit card / b ŋkəz kredit banker’s credit card They asked their bank manager for a loan. kɑ d/ noun a credit card issued by a bank, bank mandate bank mandate / b ŋk m ndeit/ noun a as opposed to cards issued by stores. Typical written order to a bank, asking it to open an such cards are Visa, Egg or MasterCard. account and allow someone to sign cheques banker’s draft / b ŋkəz drɑ ft/ noun a banker’s draft on behalf of the account holder, and giving draft payable by a bank in cash on presenta- specimen signatures and relevant informa- tion. Abbreviation B/D tion banker’s lien / b ŋkəz li n/ noun the banker’s lien banknote banknote / b ŋk nəυt/ noun 1. a piece of right of a bank to hold some property of a printed paper money a counterfeit £20 customer as security against payment of a banknote (NOTE: The US term is bill.) 2. US debt a non-interest bearing note, issued by a Fed- banker’s order / b ŋkəz ɔ də/ noun an banker’s order eral Reserve Bank, which can be used as order written by a customer asking a bank to cash make a regular payment He pays his sub- Bank of England Bank of England / b ŋk əv iŋ lənd/ scription by banker’s order. noun the UK central bank, owned by the banker’s reference / b ŋkəz banker’s reference state, which, together with the Treasury, reg- ref(ə)rəns/ noun a written report issued by ulates the nation’s finances a bank regarding a particular customer’s creditworthiness bank reconciliation bank reconciliation / b ŋk rekənsili | bank giro / b ŋk d airəυ/ noun a eiʃ(ə)n/ noun the act of making sure that bank giro method used by clearing banks to transfer the bank statements agree with the com- money rapidly from one account to another pany’s ledgers
Accounting.fm Page 22 Tuesday, February 13, 2007 1:40 PM bank reserves 22 bank reserves / b ŋk ri z vz/ plural bartering / bɑ təriŋ/ noun the act of bank reserves bartering | noun cash and securities held by a bank to exchanging goods for other goods and not cover deposits for money bank return / b ŋk ri t n/ noun a regu- bank return base /beis/ noun 1. the lowest or first posi- base | lar report from a bank on its financial posi- tion Turnover increased by 200%, but tion started from a low base. 2. a place where a bankrupt / b ŋkr pt/ noun, adjective (a bankrupt company has its main office or factory, or a person) who has been declared by a court place where a business person’s office is not to be capable of paying his or her debts located The company has its base in Lon- and whose affairs are put into the hands of a don and branches in all the European coun- receiver a bankrupt property developer tries. She has an office in Madrid which She was adjudicated or declared bankrupt. she uses as a base while travelling in South- ern Europe. í verb to base something on He went bankrupt after two years in busi- ness. í verb to make someone become something to calculate something using bankrupt The recession bankrupted my something as your starting point or basic father. material for the calculation We based our calculations on the forecast turnover. bankruptcy / b ŋkr ptsi/ noun the state bankruptcy based on calculating from based on last of being bankrupt The recession has year’s figures based on population fore- caused thousands of bankruptcies. (NOTE: casts The plural is bankruptcies.) ‘…the base lending rate, or prime rate, is bankruptcy order / b ŋkr ptsi ɔ də/ bankruptcy order the rate at which banks lend to their top noun same as declaration of bankruptcy corporate borrowers’ [Wall Street Jour- bankruptcy petition / b ŋkr ptsi pə bankruptcy petition | nal] tiʃ(ə)n/ noun an application to a court ask- ‘…other investments include a large stake ing for an order making someone bankrupt in the Chicago-based insurance company’ bankruptcy proceedings bankruptcy proceedings [Lloyd’s List] / b ŋkr ptsi prə si diŋz/ plural noun a | base currency / beis k rənsi/ noun a base currency court case to make someone bankrupt currency against which exchange rates of bank statement / b ŋk steitmənt/ bank statement other currencies are quoted noun a written statement from a bank show- base period / beis piəriəd/ noun US 1. base period ing the balance of an account at a specific a period against which comparisons are date made 2. the time that an employee must bank syndicate / b ŋk sindikət/ noun bank syndicate work before becoming eligible for state a group of major international banks which unemployment insurance benefits group together to underwrite a very large Because she had not worked for the base loan period, she had to rely on the support of her bank transfer / b ŋk tr nsf / noun an bank transfer family when she lost her job. The new gov- act of moving money from a bank account to ernment shortened the base period, in order another account to increase social service spending. bargain / bɑ in/ noun an agreement on bargain base rate / beis reit/ noun same as bank base rate the price of something to strike a bargain base rate or to make a bargain í verb to try to reach base-weighted index / beis weitid base-weighted index agreement about something, especially a price, usually with each person or group indeks/ noun an index which is weighted involved putting forward suggestions or according to the base year offers which are discussed until a compro- base year / beis jiə/ noun the first year of base year mise is arrived at You will have to bargain an index, against which changes occurring with the dealer if you want a discount. in later years are measured They spent two hours bargaining about or basic / beisik/ adjective normal basic over the price. (NOTE: You bargain with basic balance / beisik b ləns/ noun basic balance someone over or about or for something.) the balance of current account and long- barter / bɑ tə/ noun a system in which barter term capital accounts in a country’s balance goods are exchanged for other goods and not of payments sold for money basic commodities / beisik kə basic commodities ‘…under the barter agreements, Nigeria | mɒditiz/ plural noun ordinary farm pro- will export 175,000 barrels a day of crude duce, produced in large quantities, e.g. corn, oil in exchange for trucks, food, planes and rice or sugar chemicals’ [Wall Street Journal]
Accounting.fm Page 23 Tuesday, February 13, 2007 1:40 PM 23 below-the-line basic discount / beisik diskaυnt/ noun group of documents which are processed at basic discount a normal discount without extra percentages the same time Today’s batch of invoices is Our basic discount is 20%, but we offer ready to be mailed. The factory is working 5% extra for rapid settlement. on yesterday’s batch of orders. The accountant signed a batch of cheques. We basic earnings per share / beisik basic earnings per share deal with the orders in batches of fifty at a niŋz pə ʃeə/ noun a figure that shows an time. í verb to put items together in groups investor how much of a company’s profit to batch invoices or cheques belongs to each share batch costing / b tʃ kɒstiŋ/ noun a batch costing basic pay / beisik pei/ noun a normal basic pay method of calculating the price of one item salary without extra payments. Also called as part of a batch of items made at the same basic salary, basic wage time basic product / beisik prɒd kt/ noun basic product batch-level activities / b tʃ lev(ə)l batch-level activities the main product made from a raw material k tivitiz/ plural noun business activities basic rate tax / beisik reit t ks/ noun basic rate tax | that vary as output varies the lowest rate of income tax b/d abbreviation brought down b/d basic salary / beisik s ləri/, basic basic salary B/D abbreviation banker’s draft wage noun same as basic pay B/D basis / beisis/ noun 1. a point or number bear /beə/ verb 1. to give interest govern- basis bear from which calculations are made We ment bonds which bear 5% interest 2. to forecast the turnover on the basis of a 6% have something, especially to have some- price increase. (NOTE: The plural is bases.) thing written on it an envelope which 2. the general terms of agreement or general bears a London postmark a letter bearing principles on which something is decided or yesterday’s date The cheque bears the sig- done This document should form the basis nature of the company secretary. The for an agreement. We have three people share certificate bears his name. 3. to pay working on a freelance basis. (NOTE: The costs The costs of the exhibition will be plural is bases.) on a short-term or long- borne by the company. The company bore term basis for a short or long period He the legal costs of both parties. (NOTE: bear- has been appointed on a short-term basis. ing – bore – has borne) basis of accounting / beisis əv ə bearer / beərə/ noun a person who holds a basis of accounting bearer | kaυntiŋ/ noun any of various methods of cheque or certificate recognising income and expenditure in the bearer bond / beərə bɒnd/, bearer bearer bond preparation of accounts security / beərə si k υəriti/ noun a bond | basis of apportionment / beisis əv ə basis of apportionment which is payable to the bearer and does not | pɔ ʃənmənt/ noun a way in which com- have a name written on it mon overhead costs are shared among vari- beginning inventory /bi iniŋ beginning inventory | ous cost centres invənt(ə)ri/ noun US same as opening basis of assessment / beisis əv ə basis of assessment stock | sesmənt/ noun a method of deciding in behavioural accounting /bi heivjərəl behavioural accounting | which year financial transactions should be ə kaυntiŋ/ noun an approach to the study of | assessed for taxation accounting that emphasises the psychologi- basis period / beisis piəriəd/ noun the basis period cal and social aspects of the profession in period during which transactions occur, addition to the more technical areas used for the purpose of deciding in which below-the-line /bi ləυ ðə lain/ adjec- below-the-line | they should be assessed for taxation tive, adverb used to describe entries in a basis point / beisis pɔint/ noun one hun- basis point company’s profit and loss account that show dredth of a percentage point (0.01%), the how the profit is distributed, or where the basic unit used in measuring market move- funds to finance the loss originate. above- ments or interest rates the-line 1 basis swap / beisis swɒp/ noun the basis swap below-the-line expenditure /bi ləυ ðə below-the-line | exchange of two financial instruments, each lain ik spenditʃə/ noun 1. payments which | with a variable interest calculated on a dif- do not arise from a company’s usual activi- ferent rate ties, e.g. redundancy payments 2. extraordi- basket of currencies / bɑ skit əv basket of currencies nary items which are shown in the profit and k rənsiz/ noun same as currency basket loss account below net profit after taxation, batch /b tʃ/ noun 1. a group of items as opposed to exceptional items which are batch which are made at one time This batch of included in the figure for profit before taxa- shoes has the serial number 25–02. 2. a tion
Accounting.fm Page 24 Tuesday, February 13, 2007 1:40 PM benchmark 24 benchmark / bentʃmɑ k/ noun a point or benchmark bequest bequest /bi kwest/ noun something such | level which is important, and can be used as as property or money (but not freehold a reference when making evaluations or land), given to someone in a will He made assessments several bequests to his staff. benchmark accounting policy benchmark accounting policy best practice best practice / best pr ktis/ noun the / bentʃmɑ k ə kaυntiŋ pɒlisi/ noun one most effective and efficient way to do some- | of a choice of two possible policies within thing or to achieve a particular aim (NOTE: In an International Accounting Standard. The business, best practice is often determined other policy is marked as an ‘allowed alter- by benchmarking, that is by comparing the native’, although there is no indication of method one organisation uses to carry out preference. a task with the methods used by other sim- benchmarking / bentʃmɑ kiŋ/ noun the benchmarking ilar organisations and determining which practice of measuring the performance of a method is most efficient and effective.) company against the performance of other ‘For the past 25 years, managers have been companies in the same sector. Benchmark- taught that the best practice for valuing ing is also used widely in the information assets…is to use a discounted-cash-flow technology sector to measure the perform- (DCF) methodology.’ ance of computer-based information sys- [Harvard Business Review] tems. b/f b/f abbreviation brought forward beneficial interest / benifiʃ(ə)l beneficial interest BFH BFH / bi ef aitʃ/ noun in Germany, the intrəst/ noun a situation where someone is supreme court for issues concerning taxa- allowed to occupy or receive rent from a tion. Full form Bundesfinanzhof house without owning it bid bid /bid/ noun 1. an offer to buy something beneficial occupier / benifiʃ(ə)l beneficial occupier at a specific price. takeover bid to make ɒkjυpaiə/ noun a person who occupies a a bid for something to offer to buy some- property but does not own it fully thing We made a bid for the house. The beneficiary / beni fiʃəri/ noun a person beneficiary | company made a bid for its rival. to make who gains money from something the a cash bid to offer to pay cash for something beneficiaries of a will to put in or enter a bid for something to benefit / benifit/ verb 1. to make better or benefit offer to buy something, usually in writing 2. to improve A fall in inflation benefits the an offer to sell something or do a piece of exchange rate. 2. to benefit from or by work at a specific price She made the low- something to be improved by something, to est bid for the job. í verb to offer to buy gain more money because of something to bid for something (at an auction) to offer Exports have benefited from the fall in the to buy something he bid £1,000 for the exchange rate. The employees have bene- jewels he offered to pay £1,000 for the jew- fited from the profit-sharing scheme. els ‘…the retail sector will also benefit from bidder bidder / bidə/ noun a person who makes a the expected influx of tourists’ [Australian bid, usually at an auction Several bidders Financial Review] made offers for the house. benefit-cost analysis / benifit kɒst ə benefit-cost analysis | bidding bidding / bidiŋ/ noun the act of making n lisis/ noun same as cost-benefit analy- offers to buy, usually at an auction the sis bidding started at £1,000 the first and low- benefit in kind / benifit in kaind/ noun benefit in kind est bid was £1,000 the bidding stopped a benefit other than money received by an at £250,000 the last bid, i.e. the successful employee as part of his or her total compen- bid, was for £250,000 the auctioneer sation package, e.g. a company car or private started the bidding at £100 the auctioneer health insurance. Such benefits are usually suggested that the first bid should be £100 subject to tax. bid market bid market / bid mɑ kit/ noun a market Benford’s Law / benfədz lɔ / noun a law Benford’s Law where there are more bids to buy than offers discovered by Dr Benford in 1938, which to sell. Opposite offered market shows that in sets of random numbers, it is bid-offer price bid-offer price / bid ɒfə prais/ noun a more likely that the set will begin with the number 1 than with any other number price charged by unit trusts to buyers and sellers of units, based on the bid-offer spread BEP abbreviation break-even point BEP bid-offer spread bequeath /bi kwi ð/ verb to leave prop- bid-offer spread / bid ɒfə spred/ noun bequeath | erty, money, etc. (but not freehold land) to the difference between buying and selling someone in a will prices (i.e. between the bid and offer prices)
Accounting.fm Page 25 Tuesday, February 13, 2007 1:40 PM 25 blind trust ‘…at its last traded price the bank was cap- bid price bid price / bid prais/ noun a price at italized at around $1.05 billion’ [South which investors sell shares or units in a unit China Morning Post] trust (NOTE: The opposite, i.e. the buying bill of exchange / bil əv iks tʃeind / bill of exchange price, is called the offer price; the differ- | noun a document, signed by the person ence between the two is the spread.) authorising it, which tells another person or bid rate bid rate / bid reit/ noun a rate of interest a financial institution to pay money uncon- offered on deposits ditionally to a named person on a specific big business big business / bi biznis/ noun very date (NOTE: Bills of exchange are usually large commercial firms used for payments in foreign currency.) bill of lading / bil əv leidiŋ/ noun a doc- Big Four Big Four / bi fɔ / noun 1. the four large bill of lading ument listing goods that have been shipped, British commercial banks: Barclays, Lloyd- sent by the transporter to the seller and sTSB, HSB and Natwest, now joined by sev- entered in the seller’s accounts as money eral former building societies that have owed but not yet paid, and therefore as an become banks 2. the four largest interna- asset tional accounting companies: Pricewater- bill of materials / bil əv mə tiəriəlz/ houseCoopers, Deloitte Touche Tohmatsu, bill of materials | Ernst & Young and KPMG 3. the four larg- noun a document setting out the materials est Japanese securities houses: Daiwa, and parts required to make a product Nikko, Nomura and Yamaichi bill of sale / bil əv seil/ noun a document bill of sale which the seller gives to the buyer to show bilateral clearing bilateral clearing /bai l t(ə)rəl | that the sale has taken place kliəriŋ/ noun the system of annual settle- bills payable / bilz peiəb(ə)l/ plural bills payable ments of accounts between some countries, noun bills, especially bills of exchange, where accounts are settled by the central which a company will have to pay to its banks creditors. Abbreviation B/P bilateral credit bilateral credit /bai l t(ə)rəl kredit/ | bills receivable / bilz ri si vəb(ə)l/ plu- bills receivable noun credit allowed by banks to other banks | ral noun bills, especially bills of exchange, in a clearing system, to cover the period which are due to be paid by a company’s while cheques are being cleared debtors. Abbreviation B/R bill bill /bil/ noun 1. a written list of charges to BIN abbreviation bank identification BIN be paid The bill is made out to Smith Ltd number The sales assistant wrote out the bill. binder / baində/ noun US a temporary binder Does the bill include VAT? 2. a list of agreement for insurance sent before the charges in a restaurant Can I have the bill insurance policy is issued (NOTE: The UK please? The bill comes to £20 including term is cover note.) service. Does the bill include service? black economy / bl k i kɒnəmi/ noun black economy Same as check 3. a written paper promising | goods and services which are paid for in to pay money 4. US same as banknote a cash, and therefore not declared for tax. $5 bill 5. a draft of a new law which will be Also called hidden economy, parallel discussed in Parliament í verb to present a economy, shadow economy bill to someone so that it can be paid The black market / bl k mɑ kit/ noun the black market plumbers billed us for the repairs. buying and selling of goods or currency in a bill broker bill broker / bil brəυkə/ noun a discount way which is not allowed by law There is house, a firm which buys and sells bills of a flourishing black market in spare parts for exchange for a fee cars. billing billing / biliŋ/ noun the work of writing blank cheque / bl ŋk tʃek/ noun a blank cheque invoices or bills cheque with the amount of money and the payee left blank, but signed by the drawer billion billion / biljən/ noun one thousand million blanket lien / bl ŋkit li n/ noun US a blanket lien (NOTE: In the US, it has always meant one lien on a person’s property, including per- thousand million, but in UK English it for- sonal effects merly meant one million million, and it is still blind entry / blaind entri/ noun a book- sometimes used with this meaning. With blind entry figures it is usually written bn: $5bn say keeping entry that simply records a debit or credit but not other essential information ‘five billion dollars’.) blind trust / blaind tr st/ noun a trust set blind trust ‘…gross wool receipts for the selling sea- up to run a person’s affairs without the son to end June 30 appear likely to top $2 details of any transaction being known to the billion’ [Australian Financial Review]
Accounting.fm Page 26 Tuesday, February 13, 2007 1:40 PM blocked account 26 person concerned (NOTE: Blind trusts are set directors. 2. US a group of people elected by the shareholders to draw up company policy up by politicians to avoid potential conflicts and to appoint the president and other exec- of interest.) utive officers who are responsible for man- blocked account / blɒkt ə kaυnt/ noun blocked account | aging the company a bank account which cannot be used, usu- ally because a government has forbidden its ‘…a proxy is the written authorization an use investor sends to a stockholder meeting conveying his vote on a corporate resolu- blocked currency / blɒkt k rənsi/ blocked currency tion or the election of a company’s board noun a currency which cannot be taken out of directors’ [Barrons] of a country because of government bona fide / bəυnə faidi/ adjective trust- bona fide exchange controls worthy, which can be trusted blocked funds / blɒkt f ndz/ plural blocked funds bond /bɒnd/ noun 1. a contract document noun money that cannot be transferred from bond one place to another, usually because of promising to repay money borrowed by a exchange controls imposed by the govern- company or by the government on a specific ment of the country in which the funds are date, and paying interest at regular intervals held goods (held) in bond goods held by 2. customs until duty has been paid entry of block trading / blɒk treidiŋ/ noun trad- block trading goods under bond bringing goods into a ing in very large numbers of shares country in bond to take goods out of Blue Book / blu bυk/ noun an annual Blue Book bond to pay duty on goods so that they can publication of national statistics of personal be released by customs 3. a form of insur- incomes and spending patterns ance fund which is linked to a unit trust, but blue chip / blu tʃip/ noun a very safe blue chip where there is no yield because the income investment, a risk-free share in a good com- is automatically added to the fund pany bond discount / bɒnd diskaυnt/ noun bond discount Blue list / blu list/ noun US a daily list of Blue list the difference between the face value of a municipal bonds and their ratings, issued by bond and the lower price at which it is issued Standard & Poor’s bonded / bɒndid/ adjective held in bond bonded blue sky laws / blu skai lɔ z/ plural blue sky laws bonded warehouse / bɒndid bonded warehouse noun US state laws to protect investors weəhaυs/ noun a warehouse where goods against fraudulent traders in securities are stored until excise duty has been paid board /bɔ d/ noun 1. same as board of board directors He sits on the board as a repre- bond fund / bɒnd f nd/ noun a unit trust bond fund sentative of the bank. Two directors were in which investments are made in the form removed from the board at the AGM. 2. a of bonds group of people who run an organisation, bondholder / bɒnd həυldə/ noun a per- bondholder | trust or society 3. on board on a ship, son who holds government bonds plane or train í verb to go on to a ship, plane bond indenture / bɒnd in dentʃə/ noun bond indenture or train Customs officials boarded the ship | a document that details the terms of a bond in the harbour. bondised / bɒndaizd/, bondized adjec- bondised ‘CEOs, with their wealth of practical expe- tive referring to an insurance fund linked to rience, are in great demand and can pick a unit trust and choose the boards they want to serve bond market / bɒnd mɑ kit/ noun a bond market on’ [Duns Business Month] market in which government or municipal Board for Actuarial Standards / bɔ d Board for Actuarial Standards bonds are traded fər ktʃu eəriəl st ndədz/ noun a UK | bond premium / bɒnd pri miəm/ noun bond premium authority with responsibility for overseeing the difference between the face value of a the actuarial profession and setting actuarial bond and a higher price at which it is issued standards board meeting / bɔ d mi tiŋ/ noun a bond-washing / bɒnd wɒʃiŋ/ noun the board meeting bond-washing meeting of the directors of a company act of selling securities cum dividend and buying them back later ex dividend, or sell- Board of Customs and Excise / bɔ d Board of Customs and Excise ing US Treasury bonds with the interest cou- əv k stəmz ənd eksaiz/ noun the ruling pon, and buying them back ex coupon, so as body of the Customs and Excise to reduce tax board of directors / bɔ d əv dai board of directors | bond yield / bɒnd ji ld/ noun income rektəz/ noun 1. a group of directors elected bond yield by the shareholders to run a company The produced by a bond, shown as a percentage bank has two representatives on the board of of its purchase price
Accounting.fm Page 27 Tuesday, February 13, 2007 1:40 PM 27 borrowings bonus / bəυnəs/ noun an extra payment in book value per share / bυk v lju pə bonus book value per share ʃeə/ noun a company’s own assessment of addition to a normal payment the value of its shares, which may differ con- bonus issue / bəυnəs iʃu / noun a scrip bonus issue siderably from the market value issue or capitalisation issue, in which a com- boom /bu m/ noun a time when sales, pro- pany transfers money from reserves to share boom capital and issues free extra shares to the duction or business activity are increasing shareholders. The value of the company a period of economic boom the boom of remains the same, and the total market value the 1990s of shareholders’ shares remains the same, booming / bu miŋ/ adjective expanding booming the market price being adjusted to account or becoming prosperous a booming indus- for the new shares. Also called share split try or company Technology is a booming (NOTE: The US term is stock split.) sector of the economy. bonus share / bəυnəs ʃeə/ noun an extra bonus share boost /bu st/ noun help given to increase boost share given to an existing shareholder something This publicity will give sales a book /bυk/ noun 1. a set of sheets of paper book boost. The government hopes to give a boost to industrial development. í verb to attached together a company’s books the financial records of a company 2. a state- make something increase We expect our ment of a dealer’s exposure to the market, publicity campaign to boost sales by 25%. i.e. the amount which he or she is due to pay The company hopes to boost its market or has borrowed to make a book to have share. Incentive schemes are boosting a list of shares which he or she is prepared to production. buy or sell on behalf of clients ‘…the company expects to boost turnover book inventory / bυk invənt(ə)ri/ noun this year to FFr 16bn from FFr 13.6bn last book inventory year’ [Financial Times] the number of stock items recorded in accounts, which is verified by a physical BOP abbreviation balance of payments BOP count border tax adjustment / bɔ də t ks ə border tax adjustment | bookkeeper / bυk ki pə/ noun a person bookkeeper d stmənt/ noun a deduction of indirect | who keeps the financial records of a com- tax paid on goods being exported or imposi- pany or an organisation tion of local indirect tax on goods being bookkeeping / bυk ki piŋ/ noun the imported bookkeeping | work of keeping the financial records of a borrow / bɒrəυ/ verb 1. to take money borrow company or an organisation from someone for a time, possibly paying bookkeeping barter interest for it, and repaying it at the end of / bυkki piŋ bookkeeping barter the period She borrowed £1,000 from the bɑ tə/ noun the direct exchange of goods bank. The company had to borrow heavily between two parties without the use of to repay its debts. They borrowed £25,000 money as a medium, but using monetary against the security of the factory. 2. to buy measures to record the transaction at spot prices and sell forward at the same bookkeeping transaction / bυkki piŋ bookkeeping transaction time tr n z kʃən/ noun a transaction which | borrower / bɒrəυə/ noun a person who borrower involves changes to a company’s books of borrows Borrowers from the bank pay accounts, but does not alter the value of the 12% interest. company in any way, e.g. the issue of bonus shares borrowing / bɒrəυiŋ/ noun the act of bor- borrowing book of account / bυk əv ə kaυnt/ rowing money The new factory was book of account | financed by bank borrowing. noun an account book, a book which records financial transactions ‘…we tend to think of building societies as having the best borrowing rates and indeed book of prime entry / bυk əv praim book of prime entry many do offer excellent terms’ [Financial entri/, book of original entry noun a Times] chronological record of a business’s transac- borrowing costs / bɒrəυiŋ kɒsts/ plural tions arranged according to type, e.g., cash borrowing costs noun the interest and other charges paid on or sales. The books are then used to generate entries in a double-entry bookkeeping sys- money borrowed tem. borrowing power / bɒrəυiŋ paυə/ borrowing power book sales / bυk seilz/ plural noun sales noun the amount of money which a com- book sales as recorded in the sales book pany can borrow book value / bυk v lju / noun the value borrowings / bɒrəυiŋz/ plural noun book value borrowings of an asset as recorded in the company’s bal- money borrowed The company’s borrow- ance sheet ings have doubled.
Accounting.fm Page 28 Tuesday, February 13, 2007 1:40 PM bottleneck 28 breach of contract / bri tʃ əv bottleneck / bɒt(ə)lnek/ noun a situation bottleneck breach of contract kɒntr kt/ noun the failure to do some- which occurs when one section of an opera- thing which has been agreed in a contract tion cannot cope with the amount of work it has to do, which slows down the later stages breach of trust / bri tʃ əv tr st/ noun a breach of trust of the operation and business activity in gen- situation where a person does not act cor- eral a bottleneck in the supply system rectly or honestly when people expect him There are serious bottlenecks in the produc- or her to tion line. break /breik/ noun 1. a pause between break bottleneck activity / bɒt(ə)lnek k bottleneck activity periods of work She keyboarded for two | tiviti/ noun any business activity for which hours without a break. 2. a sharp fall in share the work involved equals or exceeds the prices í verb 1. to fail to carry out the duties income generated of a contract The company has broken the contract or the agreement by selling at a bottom / bɒtəm/ verb to reach the lowest bottom lower price. 2. to cancel a contract The point the market has bottomed out the company is hoping to be able to break the market has reached the lowest point and contract. (NOTE: [all verb senses] breaking does not seem likely to fall further – broke – has broken) bottom line / bɒtəm lain/ noun 1. the bottom line break down / breik daυn/ phrasal verb 1. last line on a balance sheet indicating profit to stop working because of mechanical fail- or loss the boss is interested only in the ure The fax machine has broken down. 2. bottom line he is only interested in the final to stop Negotiations broke down after six profit 2. the final decision on a matter The hours. 3. to show all the items in a total list bottom line was that the work had to com- of costs or expenditure We broke the ex- pleted within budget. penditure down into fixed and variable bottom-up budgeting / bɒtəm bottom-up budgeting p costs. b d itiŋ/ noun same as participative break even / breik i v(ə)n/ verb to bal- budgeting ance costs and receipts, so as to make nei- bought day book / bɔ t dei bυk/ noun bought day book ther a profit nor a loss Last year the a book used to record purchases made on company only just broke even. We broke credit even in our first two months of trading. bought ledger / bɔ t led ə/ noun a book bought ledger break up / breik p/ phrasal verb to split in which purchases are recorded something large into small sections The company was broken up and separate divi- bought ledger clerk / bɔ t led ə bought ledger clerk sions sold off. klɑ k/ noun an office employee who deals with the bought ledger or the sales ledger breakages / breikid iz/ plural noun breakages breaking of items Customers are expected bounce /baυns/ verb (of a cheque) to be bounce to pay for breakages. returned by the bank to the person who has tried to cash it, because there is not enough breakdown / breikdaυn/ noun 1. an act breakdown money in the payer’s account to pay it She of stopping working because of mechanical paid for the car with a cheque that bounced. failure We cannot communicate with our Nigerian office because of the breakdown of B/P abbreviation bills payable B/P the telephone lines. 2. an act of stopping B/R abbreviation bills receivable B/R talking a breakdown in wage negotiations bracket / br kit/ noun a group of items or bracket 3. an act of showing details item by item people taken together she is in the top tax Give me a breakdown of investment costs. bracket she pays the highest level of tax break-even / breik i v(ə)n/ noun a situa- break-even branch accounting / brɑ ntʃ ə branch accounting tion where there is neither a profit nor a loss | kaυntiŋ/ noun the fact of operating sepa- break-even analysis / breik i v(ə)n ə break-even analysis rate accounting systems for each department | n ləsis/ noun 1. the analysis of fixed and of an organisation variable costs and sales that determines at branch accounts / brɑ ntʃ ə kaυnts/ branch accounts what level of production the break-even | plural noun accounts showing transactions point will be reached The break-even belonging to the branches of a large organi- analysis showed that the company will only sation, i.e., between a branch and other break even if it sells at least 1,000 bicycles a branches or its head office, or other compa- month. 2. a method of showing the point at nies outside the organisation which a company’s income from sales will breach /bri tʃ/ noun a failure to carry out breach be equal to its production costs so that it nei- the terms of an agreement ther makes a profit nor makes a loss (NOTE:
Accounting.fm Page 29 Tuesday, February 13, 2007 1:40 PM 29 budget account British Accounting Association Break-even analysis is usually shown in the British Accounting Association / britiʃ ə kaυntiŋ ə səυsieiʃ(ə)n/ an form of a chart and can be used to help | | organisation whose aim is to promote companies make decisions, set prices for accounting education and research in the their products, and work out the effects of United Kingdom. F. Abbreviation BAA changes in production or sales volume on their costs and profits.) broker / brəυkə/ noun a dealer who acts as broker break-even chart / breik i v(ə)n tʃɑ t/ a middleman between a buyer and a seller break-even chart noun a chart showing the point at which a brokerage / brəυkərid / noun 1. same as brokerage company breaks even as the intersection broker’s commission 2. same as broking between a line plotting total revenue and a brokerage firm / brəυkərid f m/, bro- brokerage firm line plotting total cost kerage house / brəυkərid haυs/ noun a break-even point / breik i v(ə)n pɔint/ break-even point firm which buys and sells shares for clients | noun the point or level of financial activity broker-dealer / brəυkə di lə/ noun a broker-dealer at which expenditure equals income, or the dealer who buys shares and holds them for value of an investment equals its cost so that resale, and also deals on behalf of investor the result is neither a profit nor a loss. clients Abbreviation BEP broker’s commission / brəυkəz kə broker’s commission | break-even sales / breik i v(ə)n seilz/ break-even sales miʃ(ə)n/ noun the payment to a broker for plural noun a level of sales that neither gen- a deal which he or she has carried out. Also erates profit nor incurs loss called brokerage (NOTE: Formerly, the com- break-out / breik aυt/ noun a movement break-out mission charged by brokers on the London of a share price above or below its previous Stock Exchange was fixed, but since 1986, trading level commissions have been variable.) broking / brəυkiŋ/ noun the business of break-up value / breik p v lju / noun break-up value broking dealing in stocks and shares 1. the value of the material of a fixed asset What would the break-up value of our old brought down / brɔ t d υn/, brought brought down machinery be? 2. the value of various parts forward / brɔ t fɔ wəd/ adjective used to of a company taken separately describe the balance in an account from the bribe /braib/ noun money given secretly previous period when it is taken as the start- bribe ing point for the current period balance and usually illegally to someone in authority brought down or forward: £365.15 Abbrevi- to get them to help The minister was dis- ation b/d, b/f missed for taking a bribe. B/S abbreviation balance sheet B/S bricks-and-mortar / briks ən mɔ tə/ bricks-and-mortar adjective referring to the fixed assets of a B shares / bi ʃeəz/ plural noun ordinary B shares company, especially its buildings shares with special voting rights, often owned by the founder of a company and his bridge finance / brid fain ns/ noun bridge finance or her family. See Comment at A shares loans to cover short-term needs buck /b k/ noun US a dollar (informal ) buck bridging loan / brid iŋ ləυn/ noun 1. a bridging loan budget / b d it/ noun 1. a plan of short-term loan to help someone buy a new budget house when the old one has not yet been sold expected spending and income for a period 2. a short-term loan made to a company, e.g. of time to draw up a budget for salaries to help in a cash-flow crisis or to fund com- for the coming year We have agreed on the budgets for next year. 2. the Budget the pany restructuring (NOTE: [all senses] The annual plan of taxes and government spend- US term is bridge loan.) bring down / briŋ daυn/ phrasal verb to ing The minister put forward a budget aimed at boosting the economy. í verb to reduce Petrol companies have brought plan probable income and expenditure We down the price of oil. are budgeting for $10,000 of sales next year. bring forward / briŋ fɔ wəd/ phrasal verb 1. to make something take place earlier to ‘…he budgeted for further growth of bring forward the date of repayment The 150,000 jobs (or 2.5 per cent) in the cur- rent financial year’ [Sydney Morning Her- date of the next meeting has been brought ald] forward to March. 2. to take an account bal- ance from the end of the previous period as ‘…the Federal government’s budget tar- gets for employment and growth are the starting point for the current period within reach according to the latest fig- Balance brought forward: £365.15 ures’ [Australian Financial Review] bring in / briŋ in/ phrasal verb to earn an budget account / b d it ə kaυnt/ noun amount of interest The shares bring in a budget account | a bank account where you plan income and small amount.
Accounting.fm Page 30 Tuesday, February 13, 2007 1:40 PM budgetary 30 expenditure to allow for periods when output level for a budget period according to expenditure is high, by paying a set amount the budget. It may be expressed in different each month ways, e.g., in machine hours or standard hours. budgetary / b d it(ə)ri/ adjective refer- budgetary budgeted income statement ring to a budget budgeted income statement / b d itid ink m steitmənt/ noun a budgetary control / b d it(ə)ri kən budgetary control | statement of a company’s expected net trəυl/ noun controlled spending according income in a budgetary period to a planned budget budgeted revenue / b d itid budgeted revenue budgetary policy / b d it(ə)ri pɒlisi/ budgetary policy revənju / noun the income that an organi- noun the policy of planning income and sation expects to receive in a budget period expenditure according to the budget budgetary requirements / b d it(ə)ri budgetary requirements budget information / b d it budget information ri kwaiəməntz/ plural noun the rate of | infəmeiʃ(ə)n/ noun information about a spending or income required to meet the company’s expected future levels of income budget forecasts and expenditure budgetary slack / b d it(ə)ri sl k/ budgetary slack budgeting / b d itiŋ/ noun the prepara- budgeting noun a deliberate underestimation of tion of budgets to help plan expenditure and income and overestimation of costs, income designed to allow for budgetary emergen- budgeting models cies or to make targets more easily attainable / b d itiŋ budgeting models mɒd(ə)lz/ plural noun mathematical mod- budget centre / b d it sentə/ noun a budget centre els used in the planning of a budget and part of an organisation for which a separate designed to generate a profit budget is prepared budget lapsing / b d it l psiŋ/ noun budget committee / b d it kə miti/ budget lapsing budget committee | withdrawal by an authority of the unspent noun the group within an organisation portion of an organization’s budget allow- responsible for drawing up budgets that ance at the time the budget period expires meet departmental requirements, ensuring they comply with policy, and then submit- budget manual / b d it m njuəl/ budget manual ting them to the board of directors noun a handbook or set of documents that detail budgetary procedure for a company or budget control / b d it kən trəυl/ noun budget control | organisation the monitoring of a company’s actual per- formance against its expected performance budget period / b d it piəriəd/ noun a budget period as detailed in a budget plan period of time covered by a budget Budget Day / b d it dei/ noun the day budget planning calendar / b d it Budget Day budget planning calendar when the Chancellor of the Exchequer pl niŋ k lində/ noun a schedule show- presents the budget to Parliament. This is ing plans for the preparation of an organisa- usually in March, but with an advance tion’s master budget and the departmental budget statement in November. budgets that depend on it, which usually budget deficit / b d it defisit/ noun 1. takes several months budget deficit a deficit in a country’s planned budget, budget report / b d it ri pɔ t/ noun a budget report | where income from taxation will not be suf- report that compares a company’s actual ficient to pay for the government’s expendi- performance with its budgeted performance ture 2. a deficit in personal finances where a for a given period household will borrow to finance large pur- budget surplus / b d it s pləs/ noun budget surplus chases which cannot be made out of income a situation where there is more revenue than alone was planned for in the budget budget department / b d it di budget department budget variance / b d it veəriəns/ budget variance | pɑ tmənt/ noun a department in a large noun the difference between the cost as esti- store which sells cheaper goods mated for a budget and the actual cost budget director / b d it dai rektə/ budget director buffer stocks / b fə stɒks/ plural noun buffer stocks | noun the person in an organisation who is stocks of a commodity bought by an interna- responsible for running the budget system tional body when prices are low and held for budgeted balance sheet / b d itid budgeted balance sheet resale at a time when prices have risen, with b ləns ʃi t/ noun a statement of com- the intention of reducing sharp fluctuations pany’s estimated financial position at the in world prices of the commodity end of a budgetary year build into / bild intu / phrasal verb to in- budgeted capacity / b d itid kə clude something in something which is be- budgeted capacity | p siti/ noun an organisation’s available ing set up You must build all the forecasts
Accounting.fm Page 31 Tuesday, February 13, 2007 1:40 PM 31 business expenses into the budget. that many employees were being laid off unfairly. build up / bild p/ phrasal verb 1. to create something by adding pieces together She Bundesfinanzhof / bυndəzfi Bundesfinanzhof | bought several shoe shops and gradually n ntshɒf/ noun the German Federal built up a chain. 2. to expand something Finance Court gradually to build up a profitable business business / biznis/ noun 1. work in buy- business to build up a team of sales representatives ing, selling, or doing other things to make a building and loan association building and loan association profit We do a lot of business with Japan. / bildiŋ ən ləυn ə səυsieiʃ(ə)n/ noun US Business is slow. We did more business | same as building society in the week before Christmas than we usu- ally do in a month. What’s your line of building society / bildiŋ sə saiəti/ noun building society | business? 2. a commercial company He a financial institution which accepts and owns a small car repair business. She runs pays interest on deposits, and lends money a business from her home. I set up in busi- to people who are buying property against ness as an insurance broker. 3. the affairs the security of the property which is being discussed The main business of the meet- bought We put our savings into a building ing was finished by 3 p.m. society or into a building society account. Business Accounting Deliberation I have an account with the Nationwide Business Accounting Deliberation Council Council / biznis ə kaυntiŋ di libə Building Society. I saw the building soci- | | | ety manager to ask for a mortgage. (NOTE: reiʃ(ə)n kaυns(ə)l/ noun in Japan, a com- The US term is savings and loan.) mittee controlled by the Ministry of Finance that is responsible for drawing up regula- buildup / bild p/ noun a gradual increase buildup tions regarding the consolidated financial a buildup in sales or a sales buildup statements of listed companies There has been a buildup of complaints business address / biznis ə dres/ noun business address about customer service. | the details of number, street, and city or built-in obsolescence / bilt in ɒbsə built-in obsolescence | town where a company is located les(ə)ns/ noun a method of ensuring con- business angel / biznis eind əl/ noun business angel tinuing sales of a product by making it in a wealthy entrepreneurial individual who such a way that it will soon become obsolete invests money, usually less money than a bulk buying / b lk baiiŋ/ noun the act of bulk buying venture capitalist, in a company in return for buying large quantities of goods at low equity and some control in that company prices business angel network / biznis business angel network bullet bond / bυlit bɒnd/ noun US a bullet bond eind əl netw k/ noun a regional net- Eurobond which is only redeemed when it is work of business angels mature (NOTE: Bullet bonds are used in pay- business centre / biznis sentə/ noun business centre ments between central banks and also act the part of a town where the main banks, as currency backing.) shops and offices are located Bulletin des Annonces Légales Bulletin des Annonces Légales Obligatoires business combination / biznis business combination Obligatoires / bυlət n deiz nɒns lei | | kɒmbi neiʃ(ə)n/ noun the process in l ɒbli twɑ / noun in France, an offi- | | which one or more businesses become sub- cial bulletin in which companies make for- sidiaries of another business mal announcements to shareholders as required by law. Abbreviation BALO business cycle / biznis saik(ə)l/ noun business cycle the period during which trade expands, bullet loan / bυlit ləυn/ noun US a loan bullet loan slows down and then expands again. Also which is repaid in a single payment called trade cycle bullion / bυliən/ noun a gold or silver bars bullion business day / biznis dei/ noun a week- business day A shipment of gold bullion was stolen day when banks and stock exchanges are from the security van. The price of bullion open for business is fixed daily. business entity concept / biznis business entity concept bumping / b mpiŋ/ noun US a lay-off bumping entiti kɒnsept/ noun the concept that procedure that allows an employee with financial accounting information relates greater seniority to displace a more junior only to the activities of the business and not employee The economic recession led to to the activities of its owner(s) extensive bumping in companies where only business expenses / biznis ik business expenses the most qualified were retained for some | spensiz/ plural noun money spent on run- jobs. The trade unions strongly objected to bumping practices since they considered ning a business, not on stock or assets
Accounting.fm Page 32 Tuesday, February 13, 2007 1:40 PM business hours 32 back. business hours business hours / biznis aυəz/ plural buy in / bai in/ phrasal verb 1. (of a seller noun the time when a business is open, usu- ally 9.00 a.m. to 5.30 p.m. at an auction) to buy the thing which you are trying to sell because no one will pay the business intelligence business intelligence / biznis in | price you want 2. to buy stock to cover a po- telid (ə)ns/ noun information that may be sition 3. (of a company) to buy its own useful to a business when it is planning its shares strategy buyback buyback / baib k/ noun 1. a type of loan ‘…a system that enables its employees to agreement to repurchase bonds or securities use cell phones to access the consulting firm’s business information database.’ at a later date for the same price as they are [InformationWeek] being sold 2. an international trading agree- ment where a company builds a factory in a business name business name / biznis neim/ noun a foreign country and agrees to buy all its pro- name used by a company for trading pur- duction poses ‘…the corporate sector also continued to business plan business plan / biznis pl n/ noun a return cash to shareholders in the form of document drawn up to show how a business buy-backs, while raising little money in is planned to work, with cash flow forecasts, the form of new or rights issues’ [Finan- sales forecasts, etc., often used when trying cial Times] to raise a loan, or when setting up a new buyer buyer / baiə/ noun 1. a person who buys 2. business a person who buys stock on behalf of a trad- business property relief business property relief / biznis ing organisation for resale or for use in pro- prɒpəti ri li f/ noun in the United King- | duction dom, a reduction in the amount liable to buyer’s market buyer’s market / baiəz mɑ kit/ noun a inheritance tax on certain types of business property market where products are sold cheaply because there are few people who want to business ratepayer business ratepayer / biznis reitpeiə/ buy them. Opposite seller’s market noun a business which pays local taxes on a shop, office, factory, etc. buying department buying department / baiiŋ di | pɑ tmənt/ noun the department in a com- business rates business rates / biznis reits/ plural pany which buys raw materials or goods for noun in the United Kingdom, a tax on busi- use in the company (NOTE: The US term is nesses calculated on the value of the prop- purchasing department.) erty occupied. Although the rate of tax is set by central government, the tax is collected buying power buying power / baiiŋ paυə/ noun an the local authority. assessment of an individual’s or organiza- business review tion’s disposable income regarded as confer- business review / biznis ri vju / noun a | ring the power to make purchases The report on business carried out over the past buying power of the dollar has fallen over year. It forms part of the directors’ report. the last five years. business segment business segment / biznis se mənt/ buyout buyout / baiaυt/ noun the purchase of a noun a section of a company which can be distinguished from the rest of the company controlling interest in a company by its own revenue and expenditure ‘…we also invest in companies whose growth and profitability could be business transaction business transaction / biznis tr n | improved by a management buyout’ z kʃən/ noun an act of buying or selling [Times] business travel business travel / biznis tr v(ə)l/ noun ‘…in a normal leveraged buyout, the travel costs incurred in the course of work, acquirer raises money by borrowing as opposed to private travel or daily travel to against the assets or cash flow of the target your usual place of work company’ [Fortune] buy buy /bai/ verb to get something by paying bylaw bylaw / bailɔ / noun a rule made by a local money to buy wholesale and sell retail authority or organisation, and not by central to buy for cash She bought 10,000 shares. government The company has been bought by its lead- by-product by-product / bai prɒd kt/ noun a sec- ing supplier. (NOTE: buying – bought) buy back / bai b k/ phrasal verb to buy ondary product made as a result of manufac- turing a main product which can be sold for something which you sold earlier She sold profit the shop last year and is now trying to buy it
Accounting.fm Page 33 Tuesday, February 13, 2007 1:40 PM C back to work after his or her usual working CA abbreviation chartered accountant CA hours c/a abbreviation capital account c/a called up capital / kɔ ld p k pit(ə)l/ called up capital C/A abbreviation current account C/A noun share capital in a company which has calculate / k lkjυleit/ verb 1. to find the calculate been called up. The share capital becomes answer to a problem using numbers The fully paid when all the authorised shares bank clerk calculated the rate of exchange have been called up. for the dollar. 2. to estimate I calculate ‘…a circular to shareholders highlights that we have six months’ stock left. that the company’s net assets as at August calculation / k lkjυ leiʃ(ə)n/ noun the calculation 1, amounted to £47.9 million – less than | half the company’s called-up share capital answer to a problem in mathematics of £96.8 million. Accordingly, an EGM According to my calculations, we have six has been called for October 7’ [Times] months’ stock left. we are £20,000 out in call-in pay / kɔ l in pei/ noun payment our calculations we have made a mistake in call-in pay our calculations and arrived at a figure guaranteed to employees who report for which is £20,000 too much or too little work even if there is no work for them to do Call-in pay is often necessary to ensure calendar variance / k lində veəriəns/ calendar variance the attendance of employees where there is noun variance which occurs if a company at least the possibility of work needing to be uses calendar months for the financial done. accounts but uses the number of actual call loan / kɔ l ləυn/ noun a bank loan call loan working days to calculate overhead repayable at call expenses in the cost accounts call money / kɔ l m ni/ noun money call money calendar year / k lində jiə/ noun a calendar year loaned for which repayment can be year from the 1st January to 31st December demanded without notice. Also called call /kɔ l/ noun 1. a demand for repayment call money at call, money on call of a loan by a lender 2. a demand to pay for call option / kɔ l ɒpʃən/ noun an option call option new shares which then become paid up í to buy shares at a future date and at a specific verb to ask for a loan to be repaid immedi- price. Also called call ately call price / kɔ l prais/ noun a price to be call price call in / kɔ l in/ phrasal verb 1. to visit paid on redemption of a US bond Their sales representative called in twice call provision / kɔ l prə vi (ə)n/ noun a call provision last week. 2. to ask for a debt to be paid | clause that allows a bond to be redeemed call up / kɔ l p/ phrasal verb to ask for before its maturity date share capital to be paid call purchase / kɔ l p tʃis/, call sale call purchase callable bond / kɔ ləb(ə)l bɒnd/ noun a callable bond / kɔ l seil/ noun a transaction where the bond which can be redeemed before it seller or purchaser can fix the price for matures future delivery callable capital / kɔ ləb(ə)l k pit(ə)l/ callable capital calls in arrear / kɔ ls in ə riə/ plural calls in arrear | noun the part of a company’s capital which noun money called up for shares, but not has not been called up paid at the correct time and a special calls in call account / kɔ l ə kaυnt/ noun a type call account arrear account is set up to debit the sums | of current account where money can be owing withdrawn without notice Canadian Institute of Chartered Canadian Institute of Chartered Accountants call-back pay / kɔ l b k pei/ noun pay Accountants /kə neidiən institju t əv call-back pay | tʃɑ təd ə kaυntənts/ noun in Canada, the given to an employee who has been called |
Accounting.fm Page 34 Tuesday, February 13, 2007 1:40 PM cap 34 principal professional accountancy body company with $10,000 capital or with a cap- that is responsible for setting accounting ital of $10,000 2. money owned by individ- standards. Abbreviation CICA uals or companies, which they use for investment cap /k p/ noun 1. an upper limit placed on cap capital account / k pit(ə)l ə kaυnt/ something, such as an interest rate. The capital account | opposite, i.e. a lower limit, is a ‘floor’). 2. noun 1. an account that states the value of same as capitalisation (informal ) Last funds and assets invested in a business by year the total market cap of all the world’s the owners or shareholders 2. the portion of gold companies fell from $71 billion to $46 a country’s balance of payments that refers billion. í verb to place an upper limit on to investments, rather than to the buying and something to cap a department’s budget selling of merchandise 3. a statement of the net worth of an organization at a given time (NOTE: capping – capped) CAPA noun a large association of account- capital adequacy / k pit(ə)l CAPA capital adequacy dikwəsi/, capital adequacy ratio ancy bodies that operate in Asia and the / k pit(ə)l dikwəsi reiʃiəυ/ noun the Pacific Rim countries. Full form Confeder- amount of money which a bank has to have ation of Asian and Pacific Accountants in the form of shareholders’ capital, shown capacity /kə p siti/ noun 1. the amount capacity | as a percentage of its assets. Also called which can be produced, or the amount of capital-to-asset ratio (NOTE: The amount work which can be done industrial or is internationally agreed at 8%.) manufacturing or production capacity 2. the capital allowances / k pit(ə)l ə amount of space to use up spare or excess capital allowances | laυənsiz/ plural noun the allowances based capacity to make use of time or space which is not fully used 3. ability She has a par- on the value of fixed assets which may be ticular capacity for detailed business deals deducted from a company’s profits and so with overseas companies. reduce its tax liability capital appreciation / k pit(ə)l ə ‘…analysts are increasingly convinced capital appreciation | that the industry simply has too much pri ʃi eiʃ(ə)n/ noun same as appreciation | capacity’ [Fortune] capital asset pricing model capital asset pricing model capacity costs /kə p siti kɒsts/ plural capacity costs / k pit(ə)l set praisiŋ mɒd(ə)l/ noun | noun costs incurred to allow a company or an equation that shows the relationship produce more goods or services, e.g. the between expected risk and expected return purchase of machinery or buildings on an investment and serves as a model for capacity management /kə p siti valuing risky securities. Abbreviation capacity management | m nid mənt/ noun management of the CAPM cost of a company’s unused capacity, which capital assets / k pit(ə)l sets/ plural capital assets does not rightly influence pricing noun the property, machines, and other capacity requirements planning /kə assets which a company owns and uses but capacity requirements planning | which it does not buy and sell as part of its p siti ri kwaiəmənts pl niŋ/ noun | regular trade. Also called fixed assets planning that determines how much machin- ery and equipment is needed in order to meet capital base / k pit(ə)l beis/ noun the capital base production targets capital structure of a company (sharehold- capacity usage variance /kə p siti ers’ capital plus loans and retained profits) capacity usage variance | ju sid veəriəns/ noun the difference in used as a way of assessing the company’s worth gain or loss in a given period compared to budgeted expectations, caused because the capital bonus / k pit(ə)l bəυnəs/ noun capital bonus hours worked were longer or shorter than an extra payment by an insurance company planned which is produced by a capital gain capacity variance /kə p siti veəriəns/ capacity variance capital budget / k pit(ə)l b d it/ noun capital budget | noun variance caused by the difference a budget for planned purchases of fixed between planned and actual hours worked assets during the next budget period Caparo case /kə pɑ rəυ keis/ noun in Caparo case capital budgeting / k pit(ə)l capital budgeting | | England, a court decision taken by the b d itiŋ/ noun the process of deciding on House of Lords in 1990 that auditors owe a specific investment projects, the amount of duty of care to present (not prospective) expenditure to commit to them and how the shareholders as a body but not as individuals finance will be raised CAPEX abbreviation capital expenditure CAPEX capital commitments / k pit(ə)l kə capital commitments | capital / k pit(ə)l/ noun 1. the money, mitmənts/ plural noun expenditure on capital property, and assets used in a business a assets which has been authorised by direc-
Accounting.fm Page 35 Tuesday, February 13, 2007 1:40 PM 35 capitalism capital goods / k pit(ə)l υdz/ plural tors, but not yet spent at the end of a finan- capital goods cial period noun machinery, buildings, and raw materi- als which are used to make other goods capital consumption / k pit(ə)l kən capital consumption | s mpʃ(ə)n/ noun in a given period, the capital inflow / k pit(ə)l infləυ/ noun capital inflow total depreciation of a national economy’s the movement of capital into a country by fixed assets based on replacement costs buying shares in companies, buying whole capital costs / k pit(ə)l kɒsts/ plural companies or other forms of investment capital costs noun expenses on the purchase of fixed capital-intensive industry / k pit(ə)l capital-intensive industry assets in tensiv indəstri/ noun an industry | capital deepening / k pit(ə)l capital deepening which needs a large amount of capital di pəniŋ/ noun increased investment of investment in plant to make it work capital in a business, without changing other capital investment / k pit(ə)l in capital investment | factors of production. Also called capital vestmənt/ noun same as capital expendi- widening ture capital employed / k pit(ə)l im plɔid/ capital employed capital investment appraisal capital investment appraisal | noun an amount of capital consisting of / k pit(ə)l in vestmənt ə preiz(ə)l/ noun | | shareholders’ funds plus the long-term debts an analysis of the future profitability of cap- of a business. return on assets ital purchases as an aid to good management capital equipment / k pit(ə)l i capital equipment capitalisation / k pit(ə)lai zeiʃ(ə)n/, capitalisation | | kwipmənt/ noun equipment which a fac- capitalization noun the value of a company tory or office uses to work calculated by multiplying the price of its capital expenditure / k pit(ə)l ik capital expenditure shares on the stock exchange by the number | spenditʃə/ noun money spent on fixed of shares issued. Also called market capi- assets such as property, machines and furni- talisation ture. Also called capital investment, capi- ‘…she aimed to double the company’s tal outlay. Abbreviation CAPEX market capitalization’ [Fortune] capital expenditure budget capital expenditure budget capitalisation issue / k pitəlai capitalisation issue / k pit(ə)l ik spenditʃə b d it/ noun a | zeiʃ(ə)n iʃu / noun same as bonus issue | budget for planned purchases of fixed assets capitalisation of costs capitalisation of costs during the budget period / k pit(ə)laizeiʃ(ə)n əv kɒsts/ noun the capital flight / k pit(ə)l flait/ noun the capital flight act of including costs usually charged to the rapid movement of capital out of a country profit and loss account in the balance sheet. because of lack of confidence in that coun- The effect is that profits are higher than if try’s economic future in response to political such costs are matched with revenues in the unrest, war or other conditions. Also called same accounting period. flight of capital capitalisation of earnings capitalisation of earnings capital gain / k pit(ə)l ein/ noun an capital gain / k pitəlaizeiʃ(ə)n əv niŋz/ noun a amount of money made by selling a fixed method of valuing a business according to asset or certain other types of property, such its expected future profits as shares, works of art, leases etc. Opposite capitalise / k pit(ə)laiz/, capitalize capitalise capital loss verb 1. to invest money in a working com- capital gains expenses / k pit(ə)l capital gains expenses pany the company is capitalised at einz ik spensiz/ plural noun expenses | £10,000 the company has a working capital incurred in buying or selling assets, which of £10,000 2. to convert reserves or assets can be deducted when calculating a capital into capital gain or loss ‘…at its last traded price the bank was cap- capital gains tax / k pit(ə)l einz capital gains tax italized at around $1.05 billion with 60 per t ks/ noun a tax on the difference between cent in the hands of the family’ [South the gross acquisition cost and the net pro- China Morning Post] ceeds when an asset is sold. In the United capitalise on phrasal verb to make a profit Kingdom, this tax also applies when assets from We are seeking to capitalise on our are given or exchanged, although each indi- market position. vidual has an annual capital gains tax allow- capitalism / k pit(ə)liz(ə)m/ noun the capitalism ance that exempts gains within that tax year below a stated level. In addition, certain economic system in which each person has assets may be exempt, e.g., a person’s prin- the right to invest money, to work in busi- cipal private residence and transfers of ness, and to buy and sell, with no restrictions assets between spouses. Abbreviation CGT from the state
Accounting.fm Page 36 Tuesday, February 13, 2007 1:40 PM capitalist 36 capitalist / k pit(ə)list/ adjective work- changing the capital structure of a company capitalist ing according to the principles of capitalism by amalgamating or dividing existing shares the capitalist system the capitalist coun- to form shares of a higher or lower nominal tries or world value capitalist economy / k pit(ə)list i capital reserves / k pit(ə)l ri z vz/ capitalist economy capital reserves | | kɒnəmi/ noun an economy in which each plural noun 1. money from profits, which person has the right to invest money, to work forms part of the capital of a company and in business, and to buy and sell, with no can be used for distribution to shareholders restrictions from the state only when a company is wound up. Also called undistributable reserves 2. the capital lease / k pit(ə)l li s/ noun a capital lease share capital of a company which comes lease that gives the lessee substantial prop- from selling assets and not from their usual erty rights trading capital levy / k pit(ə)l levi/ noun a tax capital levy capital shares / k pit(ə)l ʃeəz/ plural capital shares on the value of a person’s property and pos- noun (on the Stock Exchange) shares in a sessions unit trust which rise in value as the capital capital loss / k pit(ə)l lɒs/ noun a loss capital loss value of the units rises, but do not receive made by selling assets. Opposite capital any income (NOTE: The other form of shares gain in a split-level investment trust are income capital maintenance concept capital maintenance concept shares, which receive income from the / k pit(ə)l meintənəns kɒnsept/ noun a investments, but do not rise in value.) concept used to determine the definition of capital stock / k pit(ə)l stɒk/ noun 1. capital stock profit, that provides the basis for different the amount of money raised by a company systems of inflation accounting through the sale of shares, entitling holders capital market / k pit(ə)l mɑ kit/ capital market to dividends, some rights of ownership and noun an international market where money other benefits 2. the face value of the share can be raised for investment in a business capital that a company issues capital outlay / k pit(ə)l aυtlei/ noun capital outlay capital structure / k pit(ə)l str ktʃə/ capital structure same as capital expenditure noun the relative proportions of equity capi- capital profit / k pit(ə)l prɒfit/ noun a capital profit tal and debt capital within a company’s bal- profit made by selling an asset ance sheet capital project / k pit(ə)l prɒd ekt/ capital project capital surplus / k pit(ə)l s pləs/ capital surplus noun a large-scale and complex project, noun the total value of shares in a company often involving construction or engineering that exceeds the par value work, in which an organisation spends part capital tax / k pit(ə)l t ks/ noun a tax capital tax of its financial resources on creating capac- levied on the capital owned by a company, ity for production rather than on its spending. capital gains capital ratio / k pit(ə)l reiʃiəυ/ noun capital ratio tax same as capital adequacy capital-to-asset ratio / k pit(ə)l tυ capital-to-asset ratio capital rationing / k pit(ə)l capital rationing set reiʃiəυ/, capital/asset ratio noun r ʃ(ə)niŋ/ noun restrictions on capital same as capital adequacy investment, the result either of the internal capital transactions / k pit(ə)l tr n capital transactions imposition of a budget ceiling or of external | z kʃ(ə)nz/ plural noun transactions affect- limitations such as the fact that additional ing non-current items such as fixed assets, borrowing is not available long-term debt or share capital, rather than capital reconstruction / k pit(ə)l capital reconstruction revenue transactions ri kən str kʃən/ noun the act of putting a | capital transfer tax / k pit(ə)l capital transfer tax company into voluntary liquidation and then tr nsf t ks/ noun in the United King- selling its assets to another company with dom, a tax on the transfer of assets that was the same name and same shareholders, but replaced in 1986 by inheritance tax with a larger capital base capital turnover ratio / k pit(ə)l capital turnover ratio capital redemption reserve capital redemption reserve t nəυvə reiʃiəυ/ noun turnover divided / k pit(ə)l ri dempʃən ri z v/ noun an | | by average capital during the year account required to prevent a reduction in capital widening / k pit(ə)l capital widening capital, where a company purchases or waid(ə)niŋ/ noun same as capital deep- redeems its own shares out of distributable profits ening capital reorganisation / k pit(ə)l ri CAPM abbreviation capital asset pricing CAPM capital reorganisation | ɔ ənai zeiʃ(ə)n/ noun the process of model |
Accounting.fm Page 37 Tuesday, February 13, 2007 1:40 PM 37 cash budget capped floating rate note / k pt profit from The company is cashing in on capped floating rate note fləυtiŋ reit nəυt/ noun a floating rate the interest in computer games. note which has an agreed maximum rate cash out phrasal verb US same as cash up cash up / k ʃ p/ phrasal verb to add up captive market / k ptiv mɑ kit/ noun captive market the cash in a shop at the end of the day a market where one supplier has a monopoly and the buyer has no choice over the product cashable / k ʃəb(ə)l/ adjective able to be cashable which he or she must purchase cashed A crossed cheque is not cashable carriage / k rid / noun the transporting at any bank. carriage of goods from one place to another to pay cash account / k ʃ ə kaυnt/ noun an cash account | for carriage account which records the money which is carriage forward / k rid fɔ wəd/ received and spent carriage forward noun a deal where the customer pays for cash accounting / k ʃ ə kaυntiŋ/ noun cash accounting | transporting the goods 1. an accounting method in which receipts carriage free / k rid fri / noun a deal carriage free and expenses are recorded in the accounting where the customer does not pay for the books in the period when they actually occur shipping 2. in the United Kingdom, a system for Value Added Tax that enables the tax payer carriage inwards / k rid inwədz/ carriage inwards to account for tax paid and received during a noun delivery expenses incurred through the given period, thus allowing automatic relief purchase of goods for bad debts carriage outwards / k rid aυtwədz/ carriage outwards cash advance / k ʃ əd vɑ ns/ noun a cash advance noun delivery expenses incurred through the | loan in cash against a future payment sale of goods cash and carry / k ʃ ən k ri/ noun 1. carriage paid / k rid peid/ noun a cash and carry carriage paid a large store selling goods at low prices, deal where the seller has paid for the ship- where the customer pays cash and takes the ping goods away immediately We get our sup- carry / k ri/ noun the cost of borrowing to carry plies every morning from the cash and carry. finance a deal 2. the activity of buying a commodity for carry back / k ri b k/ phrasal verb to cash and selling the same commodity on the take back to an earlier accounting period futures market carry down / k ri daυn/, carry forward / k ri fɔ wəd/ phrasal verb to take an ac- ‘…the small independent retailer who stocks up using cash and carries could be count balance at the end of the current peri- hit hard by the loss of footfall associated od as the starting point for the next period with any increase in smuggled goods’ [The carry forward / k ri fɔ wəd/ phrasal verb Grocer] to take an account balance at the end of the cash at bank / k ʃ ət b ŋk/ noun the cash at bank current period or page as the starting point total amount of money held at the bank by an for the next period or page individual or company carrying cost / k riiŋ kɒst/ noun any carrying cost cashback / k ʃb k/ noun a discount sys- cashback expense associated with holding stock for a tem where a purchaser receives a cash dis- given period, e.g., from the time of delivery count on the completion of the purchase to the time of dispatch. Carrying costs will include storage and insurance. ‘… he mentioned BellSouth’s DSL offer of $75 a month, plus a one-month cash- carrying value / k riiŋ v lju / noun carrying value back rebate.’ [BusinessWeek] same as book value cash balance / k ʃ b ləns/ noun a bal- carry-over / k ri əυvə/ noun the stock of cash balance carry-over ance that represents cash alone, as distinct a commodity held at the beginning of a new from a balance that includes money owed financial year but as yet unpaid cartel /kɑ tel/ noun a group of companies cartel | cash basis / k ʃ beisis/ noun a method cash basis which try to fix the price or to regulate the of preparing the accounts of a business, supply of a product so that they can make where receipts and payments are shown at more profit the time when they are made, as opposed to cash /k ʃ/ noun 1. money in the form of cash showing debts or credits which are outstand- coins or notes 2. the using of money in coins ing at the end of the accounting period. Also or notes í verb to cash a cheque to called receipts and payments basis exchange a cheque for cash cash budget / k ʃ b d it/ noun a plan cash in / k ʃ in/ phrasal verb to sell cash budget shares or other property for cash of cash income and expenditure. Also called cash in on / k ʃ in ɒn/ phrasal verb to cash-flow budget
Accounting.fm Page 38 Tuesday, February 13, 2007 1:40 PM cash card 38 cash card / k ʃ kɑ d/ noun a plastic card cash-flow statement / k ʃ fləυ cash card cash-flow statement steitmənt/ noun a record of a company’s used to obtain money from a cash dispenser cash inflows and cash outflows over a spe- cash cow / k ʃ kaυ/ noun a product or cash cow cific period of time, typically a year subsidiary company that consistently gener- ates good profits but does not provide cash-flow-to-total-debt ratio / k ʃ cash-flow-to-total-debt ratio growth fləυ tə det reiʃiəυ/ noun a ratio that indi- cates a company’s ability to pay its debts, cash discount / k ʃ diskaυnt/ noun a cash discount often used as an indicator of bankruptcy discount given for payment in cash. Also called discount for cash cash fraction / k ʃ fr kʃən/ noun a cash fraction cash dispenser / k ʃ di spensə/ noun a small amount of cash paid to a shareholder cash dispenser | to make up the full amount of part of a share machine which gives out money when a spe- which has been allocated in a share split cial card is inserted and instructions given cash-generating unit cash dividend / k ʃ dividend/ noun a cash-generating unit /k ʃ cash dividend d enəreitiŋ ju nit/ noun the smallest dividend paid in cash, as opposed to a divi- identifiable group of assets that generates dend in the form of bonus shares cash inflows and outflows that can be meas- cash economy / k ʃ i kɒnəmi/ noun a cash economy | ured black economy, where goods and services cashier /k ʃiə/ noun 1. a person who are paid for in cash, and therefore not cashier | declared for tax takes money from customers in a shop or who deals with the money that has been paid cash equivalent / k ʃ i kwivələnt/ cash equivalent | 2. a person who deals with customers in a noun 1. an amount of money that can be bank and takes or gives cash at the counter realised immediately by selling an asset 2. a safe and highly liquid financial instrument cashier’s check /k ʃiəz tʃek/ noun cashier’s check | such as a Treasury bill US a bank’s own cheque, drawn on itself and signed by a cashier or other bank official cash equivalents / k ʃ i kwivələnts/ cash equivalents | noun short-term investments that can be cash inflow / k ʃ infləυ/ noun receipts cash inflow converted into cash immediately and that are of cash or cheques subject to only a limited risk. There is usu- cash items / k ʃ aitəmz/ plural noun cash items ally a limit on their duration, e.g., three goods sold for cash months. cashless society / k ʃləs sə saiəti/ cashless society cash float / k ʃ fləυt/ noun cash put into | cash float noun a society where no one uses cash, all the cash box at the beginning of the day or purchases being made by credit cards, week to allow change to be given to custom- charge cards, cheques or direct transfer from ers one account to another cash flow / k ʃ fləυ/ noun cash which cash flow cash limit / k ʃ limit/ noun 1. a fixed cash limit comes into a company from sales (cash amount of money which can be spent during inflow) or the money which goes out in pur- some period 2. a maximum amount some- chases or overhead expenditure (cash out- one can withdraw from an ATM using a cash flow) card cash-flow accounting / k ʃ fləυ ə cash-flow accounting cash offer / k ʃ ɒfə/ noun an offer to cash offer | kaυntiŋ/ noun the practice of measuring pay in cash, especially an offer to pay cash the financial activities of a company in terms when buying shares in a takeover bid of cash receipts and payments, without cash outflow / k ʃ aυtfləυ/ noun cash outflow recording accruals, prepayments, debtors, expenditure in cash or cheques creditors and stocks cash payment / k ʃ peimənt/ noun cash payment cash-flow budget / k ʃ fləυ b d it/ cash-flow budget payment in cash noun same as cash budget cash payments journal / k ʃ cash payments journal cash-flow forecast / k ʃ fləυ cash-flow forecast peimənts d n(ə)l/ noun a chronological fɔ kɑ st/ noun a forecast of when cash will record of all the payments that have been be received or paid out made from a company’s bank account cash-flow ratio / k ʃ fləυ reiʃiəυ/ cash-flow ratio cash position / k ʃ pə ziʃ(ə)n/ noun a cash position noun a ratio that shows the level of cash in a | state of the cash which a company currently business in relation to other assets and the has available use of cash in the activities of the business cash-flow risk / k ʃ fləυ risk/ noun the cash price / k ʃ prais/ noun 1. a lower cash price cash-flow risk risk that a company’s available cash will not price or better terms which apply if the cus- be sufficient to meet its financial obligations tomer pays cash 2. same as spot price
Accounting.fm Page 39 Tuesday, February 13, 2007 1:40 PM 39 certificate of deposit cash purchase / k ʃ p tʃis/ noun a ceiling / si liŋ/ noun the highest point that cash purchase ceiling purchase made for cash something can reach, e.g. the highest rate of a pay increase to fix a ceiling for a budget cash receipts journal / k ʃ ri si ts cash receipts journal | There is a ceiling of $100,000 on deposits. d n(ə)l/ noun a chronological record of Output reached its ceiling in June and has all the receipts that have been paid into a since fallen back. What ceiling has the company’s bank account government put on wage increases this cash register / k ʃ red istə/ noun a cash register year? machine which shows and adds the prices of central bank / sentrəl b ŋk/ noun the central bank items bought, with a drawer for keeping the main government-controlled bank in a coun- cash received try, which controls that country’s financial cash reserves / k ʃ ri z vz/ plural cash reserves | affairs by fixing main interest rates, issuing noun a company’s reserves in cash deposits currency, supervising the commercial banks or bills kept in case of urgent need The and trying to control the foreign exchange company was forced to fall back on its cash rate reserves. central bank discount rate / sentrəl central bank discount rate cash sale / k ʃ seil/ noun a transaction cash sale b ŋk diskaυnt reit/ noun the rate at paid for in cash which a central bank discounts bills such as cash surrender value / k ʃ sə rendə cash surrender value | Treasury bills v lju / noun the amount of money that an central bank intervention / sentrəl central bank intervention insurance company will pay a policyholder b ŋk intə venʃ(ə)n/ noun an action by a who chooses to terminate a policy before the | central bank to change base interest rates, to maturity date impose exchange controls or to buy or sell cash terms / k ʃ t mz/ plural noun cash terms the country’s own currency in an attempt to lower terms which apply if the customer influence international money markets pays cash central government / sentrəl central government cash-to-current-liabilities ratio / k ʃ cash-to-current-liabilities ratio v(ə)nmənt/ noun the main government tə k rənt laiə bilitiz reiʃiəυ/ noun a | of a country as opposed to municipal, local, ratio that indicates a company’s ability to provincial or state governments pay its short-term debts, often used as an centralise / sentrəlaiz/ verb to organise centralise indicator of liquidity from a central point All purchasing has cash transaction / k ʃ tr n z kʃən/ cash transaction | been centralised in our main office. The noun a transaction paid for in cash, as dis- company has become very centralised, and tinct from a transaction paid for by means of far more staff work at headquarters. a transfer of a financial instrument central purchasing / sentrəl central purchasing cash voucher / k ʃ vaυtʃə/ noun a cash voucher p tʃisiŋ/ noun purchasing organised by a piece of paper which can be exchanged for central office for all branches of a company cash With every $20 of purchases, the cus- centre / sentə/ noun a department, area or tomer gets a cash voucher to the value of $2. centre function to which costs and/or revenues are casting vote / kɑ stiŋ vəυt/ noun a vote casting vote charged (NOTE: The US spelling is center.) used by the chairman in the case where the votes for and against a proposal are equal CEO abbreviation chief executive officer CEO The chairman has the casting vote. She certain annuity / s t(ə)n ə nju iti/ certain annuity | used her casting vote to block the motion. noun an annuity which will be paid for a casual labour / k uəl leibə/ noun casual labour specific number of years only workers who are hired for a short period certificate /sə tifikət/ noun an official certificate | casual work / k uəl w k/ noun work casual work document carrying an official declaration by where the employees are hired only for a someone, and signed by that person short period certificated bankrupt /sə tifikeitid certificated bankrupt | casual worker / k uəl w kə/ noun an casual worker b ŋkr pt/ noun a bankrupt who has been employee who can be hired for a short discharged from bankruptcy with a certifi- period cate to show that he or she was not at fault CAT abbreviation certified accounting tech- CAT certificate of approval /sə tifikət əv ə certificate of approval | | nician pru v(ə)l/ noun a document showing that CCA abbreviation current cost accounting CCA an item has been approved officially CCAB abbreviation Consultative Commit- CCAB certificate of deposit /sə tifikət əv di certificate of deposit | | tee of Accountancy Bodies pɒzit/ noun a document from a bank show- CD abbreviation certificate of deposit CD ing that money has been deposited at a guar-