April 1, 2021

Most professions have their own lingo, and accounting is no different. What is different is that you have a vested interest in understanding what your accountant tells you about your financial situation. So, here’s a quick primer on common accounting terms—some business-related, some general—to keep you in the know:

While these definitions aren’t detailed, they should be enough to let you chat knowledgeably with your accountant—especially if you’re a small business owner. If you’d like to know more, a quick Google search of “accounting glossary” will give you a number of detailed sites to peruse. Here’s to being an informed client!

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