Accounting and finance have their specific set of terminology. In this post, you will find ten verbs used to talk about accounting and finance in Business English. The verbs are used to talk about financial actions and processes.
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Sources and uses of funds refer to the process of providing and spending of funds. Businesses rely on different sources…
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One method of evaluation and comparison of business performance is based on the amount of profit made in relation to the amount of sales. The gross profit – profit without administrative cost deduction – obtained through business activities...
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The main function accounting is recording and keeping track of business transactions. On the other hand, Finance makes sure than company resources are well spent and expenses are under control.
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When a business only accepts financial transactions to be made at the time of purchase, the accounting system records all transactions based on cash accounting. This means that the entire fee/price of a service/goods has to be paid...
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As explained in owner’s equity post, companies pay a percentage of annual profit to shareholders depending on the decision of the board in the annual general meeting, and keep the rest as reserve. This is the most available...
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The International Financial Reporting Standards (IFRS) is an accounting tool offering a framework within which companies provide their financial information. The framework introduces standards that makes it possible to compare and contract financial information among businesses.
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Management of cash flow ensures a business that they can continue operating without having to worry about cash deficit. That is why it is an important part of budgets as well. It enables businesses to predict and prevent...
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World Intellectual Property Organization (WIPO) defines Intellectual Property (IP) as the literary and artistic work, as well as inventions, all of which are the creations of the mind. 192 countries are currently working with PCT to protect intellectual...
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Financial resources are limited, and therefore, the frequency and timing of financial transactions are vital to a business.…
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