Oxford Business English Dictionary for Learners of English

ac'counting .system noun

[C] a particular way of keeping and preparing reports of a company's financial records; a computer system used to do this: the benefits of installing a computerized accounting system

[sing.] the practice and methods of keeping and checking financial records for businesses: He claims that the problems with the whole financial accounting system make it difficult for investors to judge companies.

accounting 'year (BrE) [AmE .natural 'business

year) noun [c]

[Accounting) the period of twelve months over which a business prepares a set of financial

Is accretion

records: Our accounting year runs from July 1st to June 30th. -» accounting period, financial year

ac'count .manager noun [c] an employee of a company who is responsible for one or more of the company's regular customers, especially in a bank or an advertising agency account executive

ac.count pa'yee noun [sing.] [abbr а/с payee) words written across a cheque to mean that the cheque must only be paid into the bank account of the person or company named on the cheque СЫЕ The phrase 'account payee only⁵ is also used.

* accounts /a'kaonts/ noun

see also: abbreviated accounts, final financial note to the ~

[Accounting) [pi.] a set of records for a business over a period, showing all the money received and paid out and how much profit has been made: a set of accounts о This transaction is not shown in the annual accounts, о a computer program that takes the hard work out of doing the accounts о The company failed to file its accounts (- send them to the tax authorities) for the 2002financial year, о The accounts are all in order. IsynI books, books of account

О to audit/do/keep (the) accounts * annual/monthly/ quarterly accounts

[u with sing./pl. verb] the department in a company where money spent and owed is recorded: the accounts department о She works in accounts.

ac.counts 'payable noun [pi; u] (.Accounting) the amounts of money that a business owes to its suppliers or to people who have made loans (its creditors), shown as a liability on its balance sheet; the department of a business that deals with this: When an invoice comes in you send it to the guy in accounts payable to deal with. creditor (2)

ac.counts re'ceivable noun [pi.; u] [also 'book debt [c.u])

[Accounting) the amounts of money that are owed to a business by its customers (debtors), shown as an asset on its balance sheet; the department of a business that deals with this: For many smaller businesses, accounts receivable are their most valuable asset. debtor (2)

ac'count terms noun [pi ] [Commerce) the arrangement that is made between a seller and a buyer that states that the buyer does not have to pay immediately but must pay in an agreed time and in the agreed way: Open account terms are available to customers with an established credit history. open account

accreditation /a.kredi'teijn/ noun [u,C] the act of officially recognizing that sb/sth has achieved a required standard; the act of being recognized in this way: The company is applying for official accreditation to prove the quality of its products and service.

accredited /a'kreditid/ adjective [usually before noun]

officially recognized, especially as being of a required standard: accredited training programmes

accretion /a'kriijn/ noun [c,u] (Accounting) an increase or growth in the amount or value of sth: The merger resulted in a 13% accretion in the value of shares. ► accretive /a'kri:tiv/ adjective [not usually before noun]: The deal will be immediately accretive to the company's earnings.

accrual б|

accrual /э'кги:э1/ noun (.Accounting)

[С,U] a gradual increase in an amount of money: the accrual of interest

(also ac.crued 'charge, ac.crued ex'pense, ac.crued lia'bility) [c] an estimated amount of money that a business owes for goods or services that have been supplied to it but for which no request for payment has been received. This amount is recorded in the accounts at the end of the accounting period.

-» accrue