Financial Services Glossary
The 'language of finance' can be daunting. We therefore thought that a simple explanation of many of the terms might be helpful, so here goes!
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The ratio between current assets (Less inventory) and current liabilities as shown on the balance sheet. This test gives some indication of a entity's liquidity.
The (sometimes alternative) methods that have been developed for applying basic accounting concepts to business transactions and for measuring certain items in the accounts, e.g. various methods for calculating depreciation of fixed assets.
Income earned but not yet received
Interest due but not yet paid.
Any property or rights owned by a company that have monetary value.