10 Terms
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General accounting
Use this category for general accounting terms.
Industry: Accounting
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General accounting
audit
Accounting; General accounting
An audit is the independent examination of, and expression of opinion on, financial statements of an entity.
year-to-date net income
Accounting; General accounting
A company's net income from the start of the current accounting year until a specified date.
yield to maturity
Accounting; General accounting
The total annual return on a bond investment if held to maturity. For example, if a bond is purchased at less than its maturity value, the yield to maturity includes the annual interest plus the gain ...
wages
Accounting; General accounting
The compensation earned by employees who are paid on an hourly basis. It is common for production workers to earn wages, since they are usually paid via an hourly rate.
wages expense
Accounting; General accounting
The compensation earned by hourly-paid employees during the interval of time indicated in the heading of the income statement. Under the accrual basis of accounting, the date that wages are paid does ...
wages payable
Accounting; General accounting
A current liability account that reports the amounts owed to employees for hours worked but not yet paid as of the date of the balance sheet.
