Basic/General Accounting

Items

• refund

  Money paid back to the customer when returning goods/services in case of overpayment.
• remittance advice

  A document detailing what the payment that has been made is for.
• remuneration

  Money paid for work done.
• rent payment

  Rent paid for making use of someone else’s property.
• rental reincome

  Rent received for allowing someone to make use of your property.
• requisition

  It is a formal request made to obtain something.
• reserves

  It is funds that are set aside for future use or emergencies.
• residual

  It is what is left over after something has been subtracted or accounted for.
• residual value

  It is the expected value of the asset after its useful life.
• retained income

  It is the profits of the company that are held as reserves that were not distributed to shareholders.
• return/returns

  It is income or profit generated from an investment or conducting business.
• returns indicators

  It is the ratios that are used to assess the performance and profitability of investments.
• revenue

  Income generated from the selling of goods or services.
• risk indicator

  It is the indicators used to assess and quantify the risk for a particular investment/project.
• salaried employee

  It a person that is employed and earns a monthly salary as a result of the employment.
• salary

  A monthly compensation paid to an employee by the employer.
• sales

  The amount received for the exchange of goods/services.
• sales of goods and services

  The exchange of goods/services for money.
• savings account

  It is an account where people can store their money in exchange for interest.
• saving

  It is the act of putting away money for future use.
• savings rate

  It is the percentage of income that is saved instead of spent.
• securities

  It is the financial instruments that represent ownership in the company or the right to receive income from the company.
• securities exchange

  It is a market where financial instruments are bought and sold.
• semi-durable goods

  Goods that have a short lifespan compared to durable goods but a longer lifespan compared to non- durable goods.
• services

  Tasks performed by others to satisfy the needs and wants of others.