Copy of `Superglossary - Accounting`

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Superglossary - Accounting
Category: Economy and Finance > Accounting
Date & country: 16/12/2013, US
Words: 614

Unrealized Gains And Losses
Gains and losses resulting from changes in the value of securities that are still being held.

Unrecorded Expenses
Expenses incurred during a period that have not been recorded by the end of that period.

Unrecorded Revenues
Revenues earned during a period that have not been recorded by the end of that period.

Useful Life
The term used to describe the life over which an asset is expected to be useful to the company

Value Added Tax (VAT)
Value Added Tax, or VAT as it is usually called is a sales tax which increases the price of goods. A

Payment for work, usually as calculated in periods of an hour rather than longer. (See Salary.)

Payments made to the employees of a business for their work on behalf of the business. These are cla

Desires for economic goods or services, not necessarily accompanied by the power to satisfy them.

Accumulated assets such as money and/or possessions, often as a result of saving and investing.

Work In Progress
The value of partly finished (ie. partly manufactured) goods.

Depreciating an asset to zero in one go.

Zero Based Account (ZBA)
Usually applied to a personal account (checking) where the balance is kept as close to zero as possi

Zero Based Budget (ZBB)
Starting a budget at zero and justifying every cost that increases that budget.

Zero-Interest Bonds
Bonds issued with no promise of interest payments