Vacobulary for CPA examination

Financial Accounting Terms

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English Term
Accountancy
Accounting cycle
Accounting equation
Accounting period
Accounting principles
Accounting record
Accounting system
Accrual based accounting
Accrued interest rate
Accumulation
Accurate information
Acquired surplus
Actual price
Additional expenses, add
Adjustment
Amortization
Amount of cash
Annual revenue
Annual turnover
Appraised value
Appraiser
Appropriated retained earnings

23 Balance sheet
24 Basis of accounting
25 - accrual based accounting
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- cash based accounting

Bank account
Bookkeeping
Biological assets
Book value (carrying valua)
Bottom line
Business activity
Benchmark
Balance items
Beginning balance
Bank statement
bad debt expense
Capital
Cash
Cash flow
Cash inflow

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Cash outflow
Cash surrender value
Category /of expenses/
Claims
class of asset
Class of obligations
Class of transactions
Classification of loans
Classification of Inventories
Classification of lease
- finance lease
- operation lease
Clearing accounts
Compensate, compensation
Component
Cashier
Construction
Contingent asset
Contingents liabilities
Convert
Costs of hiring plant and equipment
Common stock
Comprehensive
contra account
Compound interest
Conceptual framework
Confidentiality
continuing investment
commitment
Consolidated financial statement
Convenient
Credit
Current year
Current account
Current asset
Current ratio
Debt
Dividend
Deferred income tax
Deposits in transit
Deposit
- demand deposit
- time deposit
Deposit accrued interest receivable
Depreciation cost
Depreciation method:

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- straight line method

- double declining balance
- sum-of-the-years digits
- unit of production method
Derivative financial instruments
Development and Research
Deduction /payroll deduction/
Difference of foreign currency conversion
Disclosure
Disposal of assets
Disposal of activities
Discount
Dissimilar goods
Donation
Doubtful loan
Double entry book keeping
Disposition of misstatements
Disputed transaction
Dividends payable
Exchange rate
earn income
expenditure
expense of interests
Equity assessment
Essential procedures
Estimation
Estimates of revenue
Equipment
Evaluation
events
events after the balance sheet date
expected value
Expenses for social security and health insurance

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exceptional cases
exchange difference
Exchange rate
- exchange gain
- exchange loss
Exchange transactions
Exchange of cash
expenses for land use
expenses for insurance
expenses
expenditure
expense of interests

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exemption from tax

Equity assessment
Estimation
Estimate of costs
Estimates of revenue
Equipment
Evaluation
events
events after the balance sheet date
Expenses for social security and health insurance
exceptional cases
exchange difference
earnings of the entity
evaluation of costs
excess of inventory
Financial position
Financial reporting framework
Financial statement
Floating rate borrowings
Forecast
Fixed asset
Funeral costs
Fixed amount
Fixed maturity
Fixed price
Fixed rate mortgage loan
Foreign operation
Future event
Financial service fee
Financial value
Financial activities
Financing arrangement
Forecast features
Forecasted transaction
Financial liability
General accountant/Chief accountant
Government assistance
Goods and services
Government grants
global financial achievements
gift tax
general ledger
gross income
group financial statements
Hedge effectiveness
Hedge item

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Hedge accounting
Hedging instrument
Heritage assets
Hire purchase contracts
Hiding transactions
Highlights of financial statements
International forwarding company
Interim balance
Intangible assets
Increase in share capital
Income
Impairment
- Impairment losses
- Impairment of assets
- Impairment of capital
Inception of the contract
Inception of the lease
Income tax returns
Increase in value
incremental borrowing rate of interest (lessees)
incurrence of liabilities
Indemnity clauses
Indemnity insurance
Indirect method of reporting cash flows from operating
activities
Inflow
infrastructure assets
Initial amount of revenue
Initial measurement
Initial net investment
Installation and inspection
Installation fees
Installation process
Instrument
Imbursement
Insurance
Insurance agency commissions
Insurance contract
Insurance Entity
Insurance policy
Income from penalties
Inter - segment transfers
Interest
Interest bearing financial instrument
Interest free capital contribution
Interest in the reporting entity

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Interest in voting power

Interest rate cap
Interest rate floor
Interest rate implicit in the lease
Interest rate risk
Interest rate swap
Interest expenses
Interest, Royalties and Dividends
Interest-bearing liabilities
Interests in Associates
Interests in controlled entities
Interests in Joint ventures
Interim financial statements
Interim period
Internal rate of return
Interpretation
Investee
Investment property
Investment securities
Investor
Indemnity insurance
irreplaceable
Issuance
Issuer
Item
Items of a similar nature
Inter-branch payables
Interest income from performing loans
Joint assets
Joint control
Joint venture
Joint venture debt
Jointly controlled entity
Joint liability
Lease agreements
Lease term
Loan interest
Leasing arrangements
Legal liability
Legal obligation
Legally adopted budget
legally owned
Lessee
Lesser
level precision
levy tax

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Liability
License agreements
License fees
License fees and royalties
Line by line
Liquidity of assets
Loan
Loan loss provisions
long term investment
Loss
Long-term investment discount
Long-term debt from banks and financial institutions
Loss from fixed assets write off
Loan portfolio
Long-term investments
Low value and fast depreciable items
Market price
Manual for accounting
Maturity of loan
Memorandum of accounting entries
Misstatement in balance sheet
market rental
Merger of a company
Minimum cash balance
Means of payment
New method of accounting
Name of the entity
Net profit
Net income for the current period
Non current asset
Net surplus or deficit for the period
non adjusting events
noncurrent assets
non-exchange income
Normal operating conditions
Normal terms and conditions
Notes receivable
Net balance of fixed assets
perating expenses
ther property
Obsolete inventory
Occurrence of future events
ermination benefits
Off-balance items
Off-balance-sheet instrument

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Offset
Omission
On-balance sheet
Operating cycle
Operating lease
Operating conditions
Option
Option pricing model
Ordinary activities
Ordinary share
Organized financial market
Original Contract price
Original term
Other Costs
Other liabilities
ther long- term employee benefits
Outcome of a construction contract
Outcome of a transaction
Outflow
Outlay

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Outside the control or influence of the entity

Outstanding items
Overhauling
Owner
Owner of property
Ownership
Ownership interest
Par value per share
Particular contract
Party related to the lessee
Past event
Past service cost
Patents
Payable
Payable and receivable position
Payment
Payment instructions
Penalties
Pending
Percentage of completion method
Physical wear and tear
Physical quantity
Possible assets
Possible obligations
Post employment benefits
Potential loss

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362 Present value
363 Presentation
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Presentation of consolidated financial statements

Presentation and disclosure
presumption
Prevailing market rate
Prevent omission of transactions
Previous periods
Primary financial instruments
Professional accountant
372 Professional accountant in public practice
373 Professional fees
374 Profit
375 property
376 property portfolio
377 Property sold
378 Proportionate consolidation
379 Prospective financial information
380 Per Diem
381 Purchase of goods
382 Purchase of services
383 Purchaser
384 Purchasing agent
385 Purchasing power
386 Qualifications
387 Qualifying assets
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Qualitative characteristics of financial statements

- understandibility
- relevance
- materiality
- reliability
- substance over form
- neutrality
- prudence
- completeness
- comparibility
- timeliness
- balance between cost and benefit
Quoted market prices
Quoted market value
Rate of interest
Rational and Consistent Basis
Raw materials
Raw materials consumed

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Real estate
realizable value
Reporting enterprise
Recognition of revenue
Reconciliation
Reconciling differences
Recoverability of claims
Recoverable amount
Redeem
Redemption
Refinancing
Reimbursement
Reinsurance
Related entity
Related parties
Related party disclosures
Related party transactions
Relevance
Reliability
Reliable estimate
Rental income
rentals
Reorganization
Replace
replacement cost
Reportable segment
Reporting
Reporting currency
Reporting date
Reporting enterprise
Reporting entity
Residual
Residual interest
Residual value
Restate
Restoration of assets
Restructured financial liabilities
result of past events
Results of operations
Retail Method
Retirement
Retirement benefit plan
Retrospective effect
Return
Return on investment
Revaluation

452 Redemption
453 Realizable value
454 Risks associated with a leased asset
455 Raw material
456 Statement of financial documents
457 Sale price
Scope of Consolidated Financial Statement
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459 Securities Trading
460 Separate asset
461 Separate reporting entity
462 Service cost
463 Share capital
464 Short term investment
465 Set off (off-setting)
466 Settle
467 Solvency risk
468 Stated amount
469 Statement of Financial Performance
470 Statement of Financial Position
471 statutory fund
472 Stewardship of assets
473 Stocks on hand
474 Subsequent reporting
475 Subsidiary company
476 Subsidiary ledger
477 Supporting materials
478 Surplus or deficit from ordinary activities
479 Suspense account
480 Sum of current assets
Transitional liability (defined benefit plans)
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482 Trademark
483 Tangible assets
484 Tax
485 Tax base of an asset or liability
486 Transparency
487 Treasury fund
488 Transaction of currency
489 Transnational Corporations
490 Taxable products
491 Trading derivatives
492 Terminology of accounting
493 Underlying accounting assumptions
494 - accrual basis
495 - going concern

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Underlying instrument of accounting

Unrelated parties
Unused amounts
Underlying information
Valuation of assets
Valuation services
Valuation
Value
Value Added Tax
Value in use
Value of the current assets
Wasted assets
Write off in the balance sheet
Withdraw the capital back
Working capital
Weighted average cost
Warranty
Write down, to
Write down from the real value of asset

lary for CPA examination

ncial Accounting Terms
Mongolian Term



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