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Assets Vocabulary Set in Accounting - Auditing: Full and Detailed List

The 'Assets' vocabulary set in 'Accounting - Auditing' is carefully selected from standard international textbook sources, helping you master vocabulary in a short time. Comprehensive compilation of definitions, illustrative examples, and standard pronunciation...

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asset

/ˈæs.et/

Example:

Her experience is a great asset to the team.

fixed assets

/ˌfɪkst ˈæs.ets/

Example:

The company's balance sheet showed significant fixed assets, including buildings and machinery.

intangible asset

/ɪnˌtæn.dʒə.bəl ˈæs.et/

Example:

The company's most valuable intangible asset is its strong brand reputation.

tangible asset

/ˈtæn.dʒə.bəl ˈæ.set/

Example:

The company's balance sheet showed significant tangible assets, including factories and machinery.

cash

/kæʃ/

Example:

Do you have any cash on you?

accounts receivable

/əˌkaʊnts rɪˈsiːvəbl/

Example:

Managing accounts receivable efficiently is crucial for a healthy cash flow.

inventory

/ˈɪn.vən.tɔːr.i/

Example:

The store conducted an annual inventory of all its products.

marketable security

/ˈmɑːrkɪtəbl ˌsɪkjʊrəti/

Example:

The company holds a portfolio of highly liquid marketable securities.

land

/lænd/

Example:

The ship finally reached land after a long journey.

accumulated depreciation

/əˌkjuːmjəleɪtɪd dɪˌpriːʃiˈeɪʃən/

Example:

The balance sheet showed a high amount of accumulated depreciation for the old machinery.

goodwill

/ɡʊdˈwɪl/

Example:

The company tried to build goodwill with the local community.
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