English for Business, Accounting and Financial Studies (BAFS)
Vocabulary
Contents
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| accumulation | finance | profits that are not paid out as dividends but are added to the capital base of the corporation |
| capital account | economics | that part of the balance of payments recording a nation's outflow and inflow of financial securities |
| capital account | finance | an account of the net value of a business at a specified date |
| consumption, economic consumption, usance, use, use of goods and services | economics | the utilization of economic goods to satisfy needs or in manufacturing; "the consumption of energy has increased steadily |
| economic theory | economics | a theory of commercial activities (such as the production and consumption of goods) |
| game theory, theory of games | economics | a theory of competition stated in terms of gains and losses among opposing players |
| good will, goodwill | accounting | an intangible asset valued according to the advantage or reputation a business has acquired (over and above its tangible assets) |
| Gresham's Law | economics | the principle that when two kinds of money having the same denominational value are in circulation the intrinsically more valuable money will be hoarded and the money of lower intrinsic value will circulate more freely until the intrinsically |
| gross profit, gross profit margin, margin | finance | the net sales minus the cost of goods and services sold |
| inventory | accounting | the value of a firm's current assets including raw materials and work in progress and finished goods |
| marginal utility | economics | the amount that utility increases with an increase of one unit of an economic good or service |
| monopoly | economics | a market in which there are many buyers but only one seller; "a monopoly on silver"; "when you have a monopoly you can ask any price you like |
| monopsony | economics | a market in which goods or services are offered by several sellers but there is only one buyer |
| oligopoly | economics | a market in which control over the supply of a commodity is in the hands of a small number of producers and each one can influence prices and affect competitors |
| overcapitalization, overcapitalisation | business | too much capitalization (the sale of more stock than the business warrants) |
| production | economics | manufacturing or mining or growing something (usually in large quantities) for sale; "he introduced more efficient methods of production |
| productivity | economics | the ratio of the quantity and quality of units produced to the labor per unit of time |
| review, limited review | accounting | a service (less exhaustive than an audit) that provides some assurance to interested parties as to the reliability of financial data |
| spillover | economics | any indirect effect of public expenditure |
| straight-line method, straight-line method of depreciation | accounting | a method of calculating depreciation by taking an equal amount of the asset's cost as an expense for each year of the asset's useful life |
| unearned income, unearned revenue | accounting | income received but not yet earned (usually considered a current liability on a company's balance sheet) |
| utility | economics | a measure that is to be maximized in any situation involving choice |
| write-off, write-down | accounting | reduction in the book value of an asset |