ENGLISH ACCOUNTING DEFINITIONS
Resources intended to be kept, such as buildings, used to run the business.
What are FIXED ASSETS?
Norrlands is a school that provides ___________ training. That is training for a profession or occupation.
What is VOCATIONAL training.
Debts the company will have to pay within one year.
What are CURRENT LIABILITIES?
This is the noun form of the verb: TO AMORTISE.
What is AMORTISATION?
This ridiculous looking word is the Swedish for CURRENT ASSETS.
What is OMSÄTTNINGSTILLGÅNGAR?
Total stake in a company owned by the shareholders, including their invested capital and retained earnings
What is SHAREHOLDERS' EQUITY?
An intangible asset which corresponds to a company’s reputation. When a business is purchased, this represents the difference between the company’s face value and the price the purchaser pays.
What is GOODWILL?
LIA is the Swedish Dyslexic term for this program in English.
What is LEARNING AT WORK?
Debts that fall due more than one year after the date of the balance sheet
What are LONG-TERM LIABILITIES?
This is the noun form of the verb: TO CAPITALISE.
What is CAPITALISATION?
When you tell someone you made förbättring av arrendebostad they might think your crazy, or they might realise that you made this in English.
What are LEASEHOLD IMPROVEMENTS?
Resources that can be converted into cash within a year.
What are CURRENT ASSETS?
Expenses incurred but for which invoices have not yet been received.
What are ACCRUED EXPENSES?
A post-secondary education that combines theoretical studies and strong working life links.
What is a POLYTECHNIC Education?
Assets tied up in things to be eventually sold – raw materials, work in progress and finished goods.
What is INVENTORY?
This is the noun form of the verb: TO DEPRECIATE.
What is DEPRECIATION?
A liability on a company's balance sheet that represents a prepayment by its customers for goods or services that have yet to be delivered.
What is DEFERRED REVENUE?
Assets having no physical existence but which can be licensed and sold to others.
What are INTANGIBLE ASSETS?
Services paid for but not yet used.
What are PRE-PAID EXPENSES?
This is how much more yh-p the TAXATION AND VAT part of your course is worth than the BUSINESS ENGLISH section of your course.
What is 40 yh-p?
(50 yh-p for Tax, 10 yh-p for English)
Provision for possible losses which are contingent upon a future event occurring.
What are CONTINGENT LIABILITIES?
This is the noun form of the verb: TO DEPOSIT.
What is DEPOSIT?
The fancy pants term used in English to mean balanserade vinstmedel.
What is RETAINED EARNINGS?
Accounts that have to be paid within the short term to suppliers.
What are ACCOUNTS PAYABLE?
Amounts owed by customers.
What are ACCOUNTS RECEIVABLES?
Norrlands offers programs to train as a medical therapist for only this one body part.
What is a Medical FOOT Therapist?
An amount set aside out of undistributed profits, forming part of shareholders’ equity.
This is the noun form of the verb: TO DEFER.
What is DEFERRAL?
The term anläggningstillgångar while a great Scrabble score is twice as long as its English translation.
What are FIXED ASSETS?
Spreading the cost of a tangible asset over its useful life.
What is DEPRECIATION?