Glossary of Accounting Terms

All A B C D E F G H I J K L M N O P Q R S T U V W Y Z

Index of Accounting Terms - F

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Icon representing trust and responsibility
Fiduciary Related Terms: Trustee, Guardian, Custodian, Obligated What is a Fiduciary? A fiduciary is a person or organization that acts on behalf of another person or persons, putting their clients' best interests ahead of their own.
Financial Accounting Icon representing external reporting and statements
Financial Accounting Related Terms: GAAP, Financial Statements, Balance Sheet, Income Statement, Managerial Accounting What is Financial Accounting? Explore the process of recording, summarizing, and reporting a company's financial transactions for external stakeholders through standardized financial statements like the balance sheet and income statement, adhering to GAAP.
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Financial Advisor Related Terms: Financial Planner, Investment Advisor, Wealth Manager What is a Financial Advisor? A financial advisor is a professional who provides financial guidance and advice to clients based on their financial situation and goals.
Icon representing financial education
Financial Literacy Related Terms: Financial Education, Economic Literacy What is Financial Literacy? Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.
Icon representing financial planning
Financial Planner Related Terms: Financial Advisor, Wealth Advisor, Retirement Planner What is a Financial Planner? A financial planner is a professional who helps individuals and businesses create and manage financial goals through advice on investments, retirement, insurance, and more.
Icon representing the process of setting financial goals and strategies
Financial Planning Related Terms: Budgeting, Forecasting, Wealth Management, Retirement Planning What is Financial Planning? Financial planning is the process of setting financial goals and developing strategies to achieve them, often involving budgeting, saving, and investing.
Icon representing financial ratio calculations
Financial Ratios Related Terms: Profitability Ratios, Liquidity Ratios, Financial Statement Analysis What are Financial Ratios? Calculations using financial statement data to assess a company's performance and financial health.
Icon representing analysis of financial reports
Financial Statement Analysis Related Terms: Financial Ratios, Horizontal Analysis, Vertical Analysis, Profitability Ratios What is Financial Statement Analysis? The process of reviewing a company's financial statements to make better economic decisions and assess performance.
Icon representing key financial reports
Financial Statements Related Terms: Financial Reports, Accounting Statements What are Financial Statements? Financial statements are formal records of the financial activities and position of a business, including the balance sheet, income statement, and cash flow statement.
Icon representing stable costs like rent or salaries.
Fixed Costs Related Terms: Overhead (often overlaps), Period Costs What are Fixed Costs? Business expenses that do not change in total with variations in activity or production levels within a relevant range (e.g., rent, salaries).
Icon representing shipping and transfer of ownership
Free on Board (FOB) Related Terms: Shipping Point, Destination, Freight Terms What is Free on Board (FOB)? Free on Board (FOB) is a shipping term indicating when the responsibility and ownership of goods transfer from the seller to the buyer.

Accounting and Bookkeeping
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The Adventures of Coco and Cami

Coco and Cami ask, What is Accounting Software?

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Watch as Professor A introduces Coco and Cami to Accounting and Bookkeeping, explaining how these digital tools can automate their bookkeeping, generate reports, and help them manage their finances more efficiently.

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