Glossary of Accounting Terms

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Index of Accounting Terms - S

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Icon representing the exchange of goods or services for money
Sales Related Terms: Revenue, Turnover, Income What are Sales? The revenue generated by a business from selling its goods or services to customers.
Icon representing sales tax added at checkout.
Sales Tax Related Terms: Consumption Tax, Retail Sales Tax, Use Tax (related) What is Sales Tax? A direct consumption tax added to the price of goods/services at the point of sale, collected by the seller, and visibly itemized for the consumer.
Sales Volume icon representing quantity of units sold by a business
Sales Volume Related Terms: Revenue, Sales, Units Sold, Sales Analysis, Business Performance, Market Share What is Sales Volume? The total number of units of a product or service sold by a business within a specific accounting period. Analyzing sales volume is crucial for understanding market demand, assessing sales performance, and making informed pricing, production, and inventory decisions to drive business growth.
Salvage Value icon representing the estimated residual value of a business asset after full depreciation
Salvage Value Related Terms: Residual Value, Scrap Value, Useful Life, Depreciation, Fixed Assets, Asset Accounting What is Salvage Value? The estimated scrap or residual value of a fixed asset at the end of its useful life. This estimated value is subtracted from the asset's cost to determine the amount that will be depreciated over its useful life, playing a key role in depreciation calculations for accounting and tax purposes.
Icon representing a secure document portal
SecureDocs Related Terms: Secure Document Portal, Client Portal, Encrypted Storage What is SecureDocs? SecureDocs is Sync-Up Bookkeeping's proprietary software, a secure document portal for clients to upload receipts, contracts, invoices, expense reports, and more with encryption for secure storage.
Icon representing ownership in a company
Shareholder Related Terms: Stockholder, Equity Holder, Investor What is a Shareholder? An individual or entity that legally owns one or more shares of stock in a public or private corporation.
Icon representing the owners' stake in a company
Shareholder Equity (SE) Related Terms: Stockholders' Equity, Owner's Equity, Net Assets What is Shareholder Equity (SE)? The total assets of a company minus its total liabilities, representing the owners' stake in the company.
Icon representing cloud-based subscription software.
Software as a Service (SaaS) Related Terms: Cloud Computing, Subscription Software, On-Demand Software What is SaaS? A software distribution model where a third-party provider hosts applications and makes them available to customers over the Internet.
Icon representing long-term financial stability
Solvency Related Terms: Financial Stability, Long-Term Liquidity What is Solvency? A measure of a company's ability to meet its long-term financial obligations and continue operating in the future.
Solvency Ratios icon representing assessment of long-term financial stability and debt-paying ability
Solvency Ratios Related Terms: Financial Ratios, Debt-to-Equity Ratio, Debt Ratio, Interest Coverage Ratio, Financial Leverage, Long-Term Financial Health What do Solvency Ratios indicate about a company's long-term financial health? Learn about these key financial metrics that assess a company's ability to meet its long-term debt obligations and stay in business over the long haul. Analyzing solvency ratios is essential for creditors and investors to evaluate the financial risk and stability of a business, providing insights into its long-term sustainability.
Standard Costs icon representing predetermined cost benchmarks for business operations
Standard Costs Related Terms: Cost Accounting, Variance Analysis, Budgeting, Cost Control, Predetermined Overhead Rate, Direct Materials, Direct Labor What are Standard Costs in managerial accounting? Learn about the predetermined costs for a unit of output, used as a benchmark for measuring performance and controlling costs within a business. Standard costs are essential for budgeting, cost control, and variance analysis, helping businesses identify efficiencies and inefficiencies in their operations and improve profitability.
Icon representing a fixed tax deduction amount.
Standard Deduction Related Terms: Itemized Deduction (contrast), Taxable Income, Filing Status What is the Standard Deduction? A specific dollar amount that taxpayers can subtract from their adjusted gross income (AGI) to reduce their taxable income, if they do not choose to itemize deductions.
Icon representing the flow of goods and services
Supply Chain Related Terms: Value Chain, Logistics Network What is a Supply Chain? The network between a company and its suppliers to produce and distribute a specific product to the final buyer.
Supply Chain Management icon representing the oversight of the flow of goods, services, and information in a business
Supply Chain Management Related Terms: Supply Chain, Logistics, Inventory Management, Procurement, Operations Management, Vendor Relationships What does effective Supply Chain Management involve for a business? Examine the oversight of materials, information, and finances as they move from supplier to manufacturer to wholesaler to retailer to consumer. Efficient supply chain management is crucial for reducing costs, improving operational efficiency, and enhancing customer satisfaction and overall business performance.
Icon representing equity earned through effort
Sweat Equity Related Terms: Earned Equity, Contribution in Kind What is Sweat Equity? Equity or ownership interest in a company earned by an individual through their labor or services, rather than monetary investment.

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