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Accounting Glossary

Accounting Terms and Definitions

Learn core accounting terms and definitions to help your small business get to the next level. Check out our accounting glossary, and find related articles and resources.

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Accounting Glossary

Learn about the accounting terms that all small business owner needs

A

Accounting cycle

Accounting Period

Accounts payable

Accounts receivable

Accrual accounting

Accrual Basis Accounting

Accrued Expenses

Accrual Method Accounting

B

Bad Debt Expense

Balloon payment

C

Cash accounting

Cash Basis Accounting

Cash Equivalents

Cash flow statement

Cash method accounting

CGT - Capital Gain Tax

Chart of accounts

Cloud Migration

Cost of goods sold

Current liabilities

D

Data Formatting

Data Validation

Double-entry bookkeeping

E

Encumbered asset

F

FBT – Fringe Benefit Tax

Financial statements

G

Gross profit margin

H

I

Income statement

Income Tax (Business)

Intangible assets

J

K

L

Liability Account

Long-term liabilities

M

Marketable Securities

N

Non-current assets

Non-current liabilities

Non-operating assets

O

Opening Balance

Operating assets

Operational Expense

Owner’s equity

P

Prepaid Expenses

Profit and loss

Profit and loss statement

Q

R

Retained earnings

S

Statement of cash flows

T

Tangible assets

Third-Party Provider

U

V

Variable Expense

W

Working capital

X

Y

Z

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