Essential Accounting Terms You Should Know Entering into the accounting field can be a little confusing at first with all of the new terminologies to learn. Don't feel left out in conversations and don't be left behind because you aren't sure what someone is talking about. Whether you’re studying accounting in school, working in the accounting department of an international organization or just reviewing financial statements as an investor, you may occasionally encounter terminology that’s unfamiliar. This Practical Accounting Guide Helps You With: • Starting Your First Big Job • Completing Undergraduate Work • Preparing for the CPA Exam • General Tax Accounting • Reading Financial Statements • Small Business Accounting • LLC & Bank Accounting This practical glossary compiles a list of over 150 most common accounting terms you’re likely to encounter. Every accounting term is explained in detail, with a clear and concise article style description and practical examples. As a small business owner, one of the first things you should do is make sure you have a basic understanding of accounting terms. Knowing at least a few accounting key terms will make you a much more well-rounded and versatile business owner. Make Accounting Less of a Mystery If you do all of your own bookkeeping, understanding basic accounting terminology - that applies to business - helps you prepare your tax return, understand financial reports, and communicate with others about your business’s financial position. This accounting dictionary is a crucial addition to any accountant's guidebook. Get Smart with the Financial IQ Series Please also have a look at other titles in this series. The Herold Financial IQ series covers all major areas and aspects of the financial world. • Personal Finance, Real Estate, and Banking • Corporate Finance, Investment, and Economics • Retirement, Trading, and Accounting • Debt, Bankruptcy, Mortgage, Small Business, and Wall Street • Financial Laws & Regulations, Acronyms, and Abbreviations