Basic/General Accounting

Items

• service business

  It is the business that provides services to the customers instead of physical goods.
• service rendered

  Refers to services that have been performed.
• share

  Is a part of ownership of a company. It is bought and sold in financial markets.
• shareholder

  A person who owns a share(s).
• shareholders for dividend

  It is the dividends that have been declared but not yet paid out.
• share premium

  It is the surplus amount paid by the investor for the purchase of shares that is higher than the nominal value of shares.
• smart card

  It is a plastic card that has a microprocessor.
• sole proprietorship

  It is a form of business ownership that is owned and managed by the same person. No separation between owner and business.
• source document

  It is the document that provides evidence which supports financial transactions.
• solvency

  It is the ability to meet long-term financial obligations.
• solvency ratio

  Ratio that indicates the company’s ability to meet long-term financial obligations.
• statement

  It is a document that presents information about a company’s affairs such as profitability, performance, etc.
• stationery

  It is the writing instruments and other office supplies used for writing, drawing and other related activities.
• statutory control

  Something that is subjected to the laws of the government or any other regulatory body.
• inventory count

  A process of counting inventory that is still on hand.
• inventory valuation

  The process of assigning value to the inventory on hand y.
• stop-order

  An instruction by the account holder to their bank to pay an amount of a recipient on a regular basis.
• storeroom

  A room that is used to store items.
• strike

  Action taken by workers who stop working because they are demanding better working conditions.
• subsidiary journals

  Are accounting records used to track specific types of transactions within a company.
• sundry

  Various small or unclassified items that are not specifically categorised.
• sundry account

  An account that records various small or unclassified items that are not specifically categorised.
• sundry expenses

  It is various small or unclassified expenses that are not categorised.
• supply

  It refers to the availability of something or the act of providing something.
• surcharge

  Additional fee charged on top of existing cost or price.