Accounting and Managements Glossary

Accounting and Management Glossary

Hi, my name is Audrey Mertes Arruda and I study at Montmorency College. At the moment, it’s my third semester, and I’ve had a rough time finding what I wanted to be when I’m older. During my first semester, my program was Physical Rehabilitation, but I quickly realized it wasn’t made for me. Now I’m doing Springboard to a Dcs to hopefully get into Accounting and Management Technology. I’ve been doing Springboard to a Dcs for a year now and this program is only about my general education classes like English, French or Philosophy. My glossary is here to help students who aren't in my program, learn new word that they may not have in their program. All of my words are words that I've used in real life and all the definition are from google to make sure people have the best definition. I want people to know these words, so they can expand their vocabulary and I want them to try and use it in real life. Side Note: the words in my glossary are from the program Accoutning and Management because there are no special words in Springboard to a Dcs

Account payable
Noun
Money owed by a company to its creditors.
Example: The company's accounts payable increased by 15% last quarter, indicating a greater reliance on supplier credit.
en: Comptes à payer
This picture is the only one that i could find on the internet. It represent the difference between Account of equity and account payable.
Accounts of Equity
Noun
An equity account represents an owner's interest or claim on a company's assets, showing what would remain after all liabilities are paid.
Example: The accountant noted that the account of equity increased by $10,000 due to the company's strong net income for the quarter.
en: Comptes de capitaux propres
This is a picture of an account of equity found on google image. This account comes from the Hersey’s company.
Accounts Receivable
Noun
Money owed to a company by its debtors.
Example: We also have online access to accounts receivable information worldwide, updated weekly.
en: Comptes débiteurs
Like the picture before, this is the only picture that i could find on the internet. It represent the difference between account receivable and account payable.
Asset Management
Noun
Asset management is the systematic process of developing, operating, maintaining, and disposing of assets to maximize their value, minimize risks, and achieve organizational or financial objectives.
Example: Her company provided asset management services for clients, helping them organize their investments to meet financial goals.
en: Gestion d'actifs
This picture represent the asset management allocation process.
Auditing
Noun
Conduct an official financial examination of (an individual's or organization's accounts).
Example: Companies must have their accounts audited.
en: Audit
This picture gives a small definition of what is a auditor in a financial situation.
Balance Sheet
Noun
A statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.
Example: They now have to carry the value of their derivative contracts on the balance sheet.
en: Bilan
This balance sheet comes from the Apple Inc. company from 2020.
Break-even Analysis
Noun
A break-even analysis is a financial calculation that determines the point at which the total costs of a new business, service, or product exactly equal its total revenue.
Example: Before launching the new product, the team conducted a break-even analysis to determine the number of units they needed to sell to cover their costs and avoid a loss.
en: Analyse du seuil de rentabilité
This picture represents how the calculation is made to find the break-even point.
Budgeting
Verb
Allow or provide a particular amount of money in a budget.
Example: The university is budgeting for a deficit.
en: Budgétisation
This picture represents how budgeting can look like for somebody who’s not in Account and Management. Budgeting is a little bit harder in Accounting
Cash Flow
Noun
The total amount of money being transferred into and out of a business, especially as affecting liquidity.
Example: The business's cash flow was positive for the third quarter, indicating a healthy inflow of money.
en: Des flux de trésorerie
This picture represents where can the money come from or go to.
Cost Accounting
Noun
The recording of all the costs incurred in a business in a way that can be used to improve its management.
Example: It's a bit like those cost discontinuities you see in economics or cost accounting.
en: Comptabilité analytique
This image show another definition of what can cost account be. It’s another definition.
Depreciation
Noun
A reduction in the value of an asset with the passage of time, due in particular to wear and tear.
Example: There's been some depreciation of the dollar compared to the Swiss franc.
en: Dépréciation
This picture represents some of the type of depreciation that can be out there.
Financial Reporting
Noun
Financial reporting is the process of documenting and sharing a company's financial activities and results using standardized financial statements, such as the balance sheet, income statement, and cash flow statement.
Example: Accurate financial reporting is vital for attracting investors and making informed business decisions.
en: Rapports financiers
This picture represents what constitutes financial reporting.
General journal
Noun
A general journal is a book of original entry that serves as the first chronological record of all a company's financial transactions before they are posted to the general ledger.
Example: After recording all specialized transactions, the bookkeeper will use the general journal to log any infrequent or non-standard business activities that don't fit into the cash, sales, or purchase journals.
en: Journal général
This picture is a representation of a small general journal.
Income Statement
Noun
An income statement is a financial report summarizing a business's revenues, expenses, gains, and losses over a specific period, ultimately showing whether the company made a profit or incurred a loss.
Example: According to the company's income statement, its profits for the last quarter were significantly higher than expected.
en: Compte de résultat
This picture represents an income statement from a Excel sport.
Internal Controls
Noun
Internal controls are policies and procedures implemented by an organization's management and personnel to ensure objectives are met, providing reasonable assurance of operational effectiveness, reliable financial reporting, and compliance with laws and regulations.
Example: The accounting department implemented new internal controls to prevent fraud and ensure the accuracy of financial records
en: Contrôles internes
This picture show four types of internal control.
Ledger
Noun
A book or other collection of financial accounts of a particular type.
Example: The records are kept in this ledger.
en: Grand livre
This picture represents what look like a ledger sheet.
Reconciliation
Noun
In accounting, reconciliation is the process of comparing two sets of financial records to ensure their accuracy, completeness, and agreement.
Example: The accountant performed a reconciliation of the bank statement to ensure all transactions matched the company’s records.
en: Réconciliation
This picture is an exemple of a bank reconciliation statement.
Trial balance
Noun
A statement of all debits and credits in a double-entry account book, with any disagreement indicating an error.
Example: The accountant prepares a trial balance at the end of the month to ensure the general ledger is balanced.
en: Balance de vérification
This picture represents an adjusted trial balance.
Variable Costs
Noun
A cost that varies with the level of output.
Example: The bakery's ingredients, such as flour and yeast, are variable costs because they increase with each loaf of bread produced.
en: coûts variables
This image represents the types of variable cost.
Variance Analysis
Noun
Variance analysis is the process of comparing an organization's actual financial results to its planned, budgeted, or forecasted results to identify the causes of any differences.
Example: The finance department uses variance analysis to compare actual spending against budget to identify discrepancies and control costs.
en: Analyse de variance
This is the only pcityre that I could find on the internet that made sense. This picture represents the types of variance analysis.

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 Hi, welcome to my blog. My name is Audrey Mertes Arruda and I study at College Montmorency. At the moment, it’s my third semester and I’ve had a rough time finding what I wanted to be when I’m older. During my first semester, my program was Physical Rehabilitation, but I quickly realized it wasn’t made for me. Now I’m doing Springboard to a Dcs to hopefully get into Accounting and Management Technology. I’ve been doing Springboard to a Dcs for a year now and this program is only about my general education classes like English, French or Philosophy. To learn more about my decision, let me talk a little bit more about myself. I am 18 years old and love playing sports. I’ve played soccer for five years, hockey for 4 years and other sport like kinball, futsall or flag football. That is where my decision to study in Physical Rehabilitation came from. The reason that I quit this program is because I hate science. I’ve never been interested in the human body or the way it works, I just t...
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