"Glencoe Accounting: Real-World Applications & Connections," Vocabulary from Appendixes

This list focuses on the accrual basis of accounting, federal personal income tax, and advanced accounting concepts (Appendixes A, B, E).

Here are links to all the units of the first-year accounting textbook published by McGraw-Hill: Unit 1, Unit 2, Unit 3, Unit 4, Unit 5, Unit 6, Appendixes
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Full list of words from this list:

words only definitions & notes
  1. accrue
    grow by addition
  2. defer
    hold back to a later time
  3. earn
    make money on some commercial or business transaction
  4. incur
    make oneself subject to
  5. anticipation
    expecting with confidence of fulfillment
  6. gradual
    proceeding in small stages
  7. adjustment
    amount added or deducted based on qualifying circumstances
  8. reverse
    a relation of direct opposition
  9. optional
    possible but not necessary; left to personal choice
  10. voluntary
    of your own free will or design
  11. compliance
    acting according to certain accepted standards
  12. levy
    impose and collect
  13. personal
    particular to a given individual
  14. income
    the amount of money one makes over a period of time
  15. eligible
    qualified for or allowed or worthy of being chosen
  16. status
    the condition or someone or something at a particular time
  17. assess
    estimate the nature, quality, ability or significance of
  18. annual
    occurring every year
  19. report
    a document describing findings of some individual or group
  20. success
    a state of prosperity or fame
  21. failure
    inability to discharge all your debts as they come due
  22. performance
    process or manner of functioning or operating
  23. initiative
    the first of a series of actions
  24. management
    those in charge of running a business
  25. objective
    the goal intended to be attained
  26. rational
    consistent with or based on or using reason
  27. accurate
    characterized by perfect conformity to fact or truth
  28. bias
    a partiality preventing objective consideration of an issue
  29. guideline
    a rule that provides direction for appropriate behavior
  30. expert
    a person with special knowledge who performs skillfully
  31. unqualified
    not limited or restricted
  32. adverse
    in an opposing direction
  33. opinion
    a personal belief or judgment
  34. expenditure
    money paid out; an amount spent
  35. allocation
    the act of distributing or apportioning according to a plan
  36. depletion
    the state of being used up
  37. amortization
    reducing the value of an asset over a period of years
  38. intangible
    assets that are saleable though not material or physical
  39. auditor
    a qualified accountant who inspects accounting records
  40. accountability
    responsibility to someone or for some activity
Created on Fri Oct 21 17:20:15 EDT 2016 (updated Fri Oct 21 18:25:24 EDT 2016)

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