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IEDC exam

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Accounts Payable
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Terms in this set (101)
Accounts Payable
Represents the claims of suppliers related to goods or services they have furnished to an entity but for which they have not yet been paid. It is part of the current liabilities of an entity.
Accounts Receivable
Money owed to the entity by its customers. It is part of the current assets of an entity.
Accruals
Money owed to providers of goods or services for which typically no bill exists or is ever sent. This includes wages, payroll taxes, interest due on loans, and rent.
Amortization
The spreading of repayments of a debt or obligations over a set period of time.
Appreciation
The increase in value of an asset or investment that results from inflation or direct investments that enhances the value or growth.
Asset
The economic resources owned by an entity that have commercial or market value.
Balance Sheet
A financial statement that summarizes the financial position of an entity by outlining its assets and liabilities equity. Assets must equal liabilities and equity.
Balloon Payment
The last payment on a loan that is substantially larger than subsequent payments.
Bond
A certificate of debt issued by a government or business guaranteeing payment of the original investment plus interest by a specified future date. Municipal bonds are issued by a city, county, town, or district. Interest earned on these bonds are exempt from federal income tax and, in some cases, state income tax. Revenue bonds are backed by revenues received from a specific project such as a toll bridge. Industrial revenue bonds are municipal revenue bonds to finance industrial or commercial construction.
Book Value
The historic price paid for an asset less total accumulated depreciation to date. This is compared to market value.
Callable
An option held by the issuing entity of a bond to redeem the bond before the maturity date.
Capital Gains (Loss)
The difference between the price an investor paid for an investment and the proceeds received from the sale of that investment.
Capital Gap
The difference between the supply of private sector financial capital and the demand for that capital.
Capitalize
To supply with capital investment of funds.
Capitalization
The total funding of an entity consisting of debt, stock and retained earnings used to finance operations and meet debt obligations.