Management Glossary

  Terms beginning with a
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A/P

accounts payable

Contributed by:
See: accounts payable

A/R

accounts receivable

Contributed by: Managerwise Staff
See: accounts receivable

ABC
Activity Based Costing
Contributed by: Managerwise Staff

accelerated depreciation
A method of depreciation that weights the reductions in the asset's book value more heavily in the early years than in the later year's of the asset's life.
Contributed by: ManagerWise Staff
See: depreciation, asset, book value

acceptance testing

Testing performed by a customer (either a customer external to the vendor or another department in the same company) to validate that a system or piece of equipment conforms to all specifications and is ready to use.

Contributed by: Managerwise Staff

accidental death and dismemberment

Abbreviated as AD&D, it is a common employee benefit that is an insurance policy or a rider (add-on) to a life insurance policy that pays a set amount to a covered employee (or his or her estate in the case of death) should he or she die, lose a limb (or sometimes only if he or she loses at least two limbs) or  lose his or her eyesight as the result of an accident. The amount that will be paid typically varies depending on whether the accident results in death or in dismemberment and, if dismemberment, on how many and which limbs (or eyesight) are lost.

Contributed by: Managerwise Staff

account
A "bucket" on the income statement or balance sheet used to keep track of the value of assets, liabilities, revenues and expenses. Typically an account exists for every class of asset (e.g. buildings, equipment, investements, etc.), liability (e.g. accounts payable, loans payable, etc.), revenue (sales, interest, etc.) and expense (general office expenses, legal fees, accounting fees, etc.) as well as for shareholders' equity. Accounts are normally kept in a common currency, usually the currency of the country in which the business is resident.
Contributed by: ManagerWise Staff
See: asset, revenue, liability, expense, income statement, balance sheet

accounts payable
Money that a company owes others. Also referred to simply as "payables".
Contributed by: ManagerWise Staff
See: accounts receivable

accounts receivable
Money that others owe a company. Also referred to simply as receivables.
Contributed by: ManagerWise Staff

accrual basis
A method of accounting whereby revenues are recognized when they are earned regardless of when the cash is received. For example, when a company charges clients for work on an hourly basis, billed in full at the completion of the work, if the job is only partly finished at the end of the fiscal year the financial statements would account for the completed, but not yet billed, portion of the work in an income account that may be called "work in progress". Likewise, if work has been completed and invoiced, but the invoice has not yet been paid, the invoice amount would still be included as income and would also appear in an account called "Accounts Receivable". Under accrual basis accounting expenses are also shown in the financial statements to have been incurred only when the benefit has been received. For example, if an annual premium on an insurance policy is paid in the middle of the fiscal year, the full amount would still come out of the "cash" asset account, but only half of it would accounted for under an expenses account. The other half would appear in an asset account with a name like "prepaid expenses."
Contributed by: ManagerWise Staff
See: cash basis

accrued interest
Interest that has been earned at the end of an accounting period, but which has not yet been paid.
Contributed by: ManagerWise Staff

acculturation

In a business context, acculturation is the process by which employees learn and internalize the corporate culture. This process may be formal or informal and may include official orientation programs as well as ongoing work experiences.

Contributed by: Managerwise Staff
See: corporate culture

achievement motivation
Being motivated solely by the achievement of a particular outcome, without the need for any additional incentives such as the promise of financial rewards or the commendations of others.
Contributed by: Managerwise Staff

acid test ratio
Another name for the "quick ratio."
Contributed by: ManagerWise Staff
See: quick ratio

action plan

A detailed, step-by-step description of the tactics and activities that will be undertaken to achieve a particular objective.

Contributed by: Managerwise Staff



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