Common English terms for accounting majors – To make your work easier and more convenient, you cannot lack knowledge of specialized English. The same goes for accounting. In the following, we will summarize a list of English vocabulary for accounting – auditing that you often encounter in this field, hopefully they will help you easily work in the accounting-auditing environment. in English more convenient.

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** Here are the most common accounting English words today, let’s find out together!

1. Accounting entry: journal entry

2. Accrued expenses: Expenses payable

3. Accumulated: accumulated

4. Advanced payments to suppliers : Prepaid to sellers

5. Advances to employees: Advances

6. Assets: Assets

7. Balance sheet: Balance sheet

8. Bookkeeper: the person who makes the report

9. Capital construction: basic construction

10. Cash: Cash

11. Cash at bank: Bank deposits

12. Cash in hand : Cash at the fund

13. Cash in transit: Money is in transit

14. Check and take over: acceptance

15. Construction in progress: Cost of construction in progress

16. Cost of goods sold: Cost of goods sold

17. Current assets: Current assets and short-term investments

18. Current portion of long-term liability: Long-term debt that is due

19. Deferred expenses: Expenses waiting for the connection

20. Deferred revenue: Buyer pays in advance

21. Depreciation of fixed assets: Accumulated depreciation of tangible fixed assets

22. Depreciation of intangible fixed assets: Accumulation of intangible fixed assets

23. Depreciation of leased fixed assets: Accumulated depreciation of finance leased fixed assets

24. Equity and funds: Capital and funds

25. Exchange rate differences: Exchange rate differences

26. Expense mandate: Expense mandate

27. Expenses for financial activities: Financial operating expenses

28. Extraordinary expenses: Extraordinary expenses

29. Extraordinary income: Extraordinary income

30. Extraordinary profit: Extraordinary profit

31. Figures in: millions VND: Unit: million VND

32. Financial ratios: Financial ratios

33. Financials : Finance

34. Finished goods: Finished goods in stock

35. Fixed asset costs: Original cost of tangible fixed assets

36. Fixed assets: Fixed assets

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37. General and administrative expenses: Business administration expenses

38. Goods in transit for sale: Goods in transit for sale

39. Gross profit: Total profit

40. Gross revenue: Total revenue

41. Income from financial activities: Income from financial activities

42. Instruments and tools: Tools and tools in stock

43. Intangible fixed asset costs: Original cost of intangible fixed assets

44. Intangible fixed assets: Intangible fixed assets

45. Intra-company payables: Payable for internal units

46. ​​Inventory : Inventory

47. Investment and development fund: Investment and development fund

48. Itemize: Open sub-account

49. Leased fixed asset costs: Original cost of finance lease fixed assets

50. Leased fixed assets: Financial lease fixed assets

51. Liabilities: Liabilities

52. Long-term borrowings: Long-term loans

53. Long-term financial assets: Long-term financial investments

54. Long-term liability: Long-term debt

55. Long-term mortgages, collateral, deposits: Mortgages, deposits, long-term deposits

56. Long-term security investments: Long-term securities investments

57. Merchandise inventory

You are viewing: Common English terms for accounting majors

58. Net profit: Net profit

59. Net revenue: Net revenue

60. Non-business expenditure source: Source of career funding

61. Non-business expenditures: Non-business expenditures

62. Non-current assets: Fixed assets and long-term investments

63. Operating profit: Profit from business activities

64. Other current assets: Other current assets

65. Other funds: Funding sources, other funds

66. Other long-term liabilities: Other long-term liabilities

67. Other payables: Other liabilities

68. Other receivables: Other receivables

69. Other short-term investments: Other short-term investments

70. Owners” equity

71. Payables to employees: Payables to employees

72. Prepaid expenses: Prepaid expenses

73. Profit before taxes: Profit before taxes

74. Profit from financial activities: Profit from financial activities

75. Provision for devaluation of stocks: Provision for devaluation of inventories

76. Purchased goods in transit: Purchased goods are in transit

77. Raw materials: Raw materials, inventory materials

78. Receivables: Accounts Receivable

79. Receivables from customers: Receivables from customers

80. Reconciliation: : compare

81. Reserve fund: Reserve fund

82. Retained earnings: Undistributed profits

83. Revenue deductions

84. Sales expenses: Selling expenses

85. Sales rebates: Sales discounts

86. Sales returns: Sales returns

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87. Short-term borrowings: Short-term loans

88. Short-term investments: Short-term financial investments

89. Short-term liability: Short-term debt

90. Short-term mortgages, collateral, deposits—– Mortgages, deposits, short-term deposits

91. Short-term security investments: Short-term securities investments

92. Stockholders” equity: Source of business capital

93. Surplus of assets awaiting resolution: Surplus assets pending resolution

94. Tangible fixed assets: Tangible fixed assets

95. Taxes and other payables to the State budget—- Taxes and other payables to the State

96. Total assets: Total assets

97. Total liabilities and owners” equity: Total capital

98. Trade bond: Payable to the seller

99. Treasury stock: Treasury shares

100. Welfare and reward fund: Welfare and reward fund

** Some specialized vocabulary when accountants work with banks:

1. Account holder: account holder

2. Accounts payable: accounts payable

3. Accounts receivable: accounts receivable

4. Accrual basis: accounting method based on accrual – forecast

5. Amortization: depreciation

6. Arbitrage: profit difference

7. Bank card: bank card

8. Bond: bond

9. Boom: a spike (price)

10. Capital: capital

11. Cardholder: cardholder

12. Cash basis: accounting method based on actual revenue – actual expenditure

13. Certificate of deposit: certificate of deposit

14. Clear: clearing

15. Cost of capital: cost of capital

16. Crossed check: Check paid by wire transfer

17. Debit balance: debit balance

18. Debit: debit

19. Debt: debt

20. Deficit: deficit

21. Deposit money: deposit

22. Depreciation: a discount

23. Dividend: dividend

24. Draw: draw

25. Letter of authority: letter of authority

26. Non-card instrument: non-cash payment means

27. Statement: statement (account)

28. Treasury bill: Treasury bill

29. Treasury stock: treasury stock

** Some vocabulary related to management accounting: 1. Accounting: Accounting

2. General and administrative expenses: Business administration expenses

3. Corporate income tax : Corporate income tax

4. Expenses for financial activities: Financial operating expenses

5. Financial ratios : Financial ratios

6. Long-term borrowings: Long-term loans

7. Auditing: Auditing

8. Tangible fixed assets: Tangible fixed assets

9. Certified public accountant (cpa): Certified public accountant (cpa)

10. Issued capital: Issued capital

11. Working capital: Working capital

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12. Carrying cost: Cost of preserving inventory

13. Cash discounts: Cash discounts

14. Historical cost principle

** Formulas in English for communication majors in accounting:

Cost of goods sold/ cost of sales (Cost of goods sold) = Opening Inventory + Purchase – Closing Inventory (mainly applicable to commercial enterprises)

Mark-up profit rate = Sales – cost of goods sold)/ Cost of goods sold

Income tax expense = Income tax rate x PBIT

Profit after tax = PBIT – Income tax expense

Gross profit = Sales – cost of goods sold

Margin profit rate = Sales – cost of goods sold)/ Sales

Purchase = Closing Trade Payable – Opening Trade Receivable + Received Discount + Cash paid to supplier + Contra between trade receivable and trade payable = ending balance – opening balance + discounts received + payments owed to suppliers + offset between accounts receivable and accounts payable.

Carrying amount = Cost – accumulated depreciation = residual value = total – accumulated depreciation

Annual depreciation = Cost of assets – residual value / The amount of years of use life.

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Cost of manufactured = Opening Work in progress + Sum of production cost – Closing Work in progress

** Abbreviated symbols in English for communication majors in accounting:

GAAP: Generally Accepted Accounting Principles

IAS: International Accounting Standards

IFRS: International Financial Reporting Standards

IASC: International Accounting Standards Committee

EBIT: earning before interest and tax

EBITDA: earnings before interest, tax, depreciation and amortization

COGS: cost of goods sold

FIFO (First In First Out): First in first out method

LIFO (Last In First Out): Last In First Out Method

Article: Common accounting terms in English

Above are the most commonly used accounting vocabulary in every business. See also: What is Crp – Tests and How does it work

To be able to do better in each area of ​​the accounting industry, you need to orientate the development trends in your career right now. But maybe the best and most effective way is to constantly improve your knowledge and work experience through accounting training courses at the centers.