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Accounting glossary: Industry jargon you need to know


Knowing an entry level set of jargon for any industry is important and will make you sound and appear more credible.

It’s not just about knowing your numbers, it’s about knowing what they mean. Because of how the accounting industry has been glorified with all manner of qualifications and hearsay, accounting may seem inaccessible for those who have never touched it before.

In reality, the figures in themselves are straightforward, it’s only the odd bits of technical language that you need to be familiar with.

Below are some basic phrases and words to get you started on how to read a standard set of accounts without going into too much detail.

Terms to remember which appear in your statutory accounts:...