| No. | Item | Definition |
|---|---|---|
| 1. | accrual | recognized before cash changes hands |
| 2. | ACH | electronic bank payment network |
| 3. | allocation | distribution among uses or assets |
| 4. | amortization | gradual repayment over time |
| 5. | appropriation | authorized use of funds |
| 6. | arrears | overdue unpaid amounts |
| 7. | asset | something of financial value |
| 8. | audit | formal review of accounts |
| 9. | balance sheet | statement of assets and liabilities |
| 10. | bankruptcy | legal inability to pay debts |
| 11. | benchmark | standard for comparison |
| 12. | beneficiary | person receiving benefits or assets |
| 13. | bond | debt security |
| 14. | book value | value shown in records |
| 15. | budget | planned income and spending |
| 16. | capital | money or assets for use |
| 17. | cash flow | money moving in and out |
| 18. | cash management | handling available cash efficiently |
| 19. | collateral | asset pledged for debt |
| 20. | compliance | following rules and laws |
| 21. | covenant | promise in a loan agreement |
| 22. | credit | ability to borrow or accounting entry |
| 23. | creditor | person or entity owed money |
| 24. | debit | accounting entry on the left |
| 25. | debt | money owed |
| 26. | debtor | person or entity owing money |
| 27. | default | failure to meet obligation |
| 28. | deficit | shortfall between income and costs |
| 29. | deposit | money placed in an account |
| 30. | depreciation | asset value reduction over time |
| 31. | disbursement | payment of funds |
| 32. | encumbrance | committed but unspent funds |
| 33. | endowment | invested fund supporting operations |
| 34. | equity | ownership value after liabilities |
| 35. | escrow | funds held by third party |
| 36. | expense | money spent on operations |
| 37. | fair value | current market-based value |
| 38. | fee | charge for a service |
| 39. | fiduciary | person owing duty of care |
| 40. | filing | official submission of documents |
| 41. | fiscal year | twelve-month accounting period |
| 42. | forecast | financial estimate of future results |
| 43. | fraud | intentional financial deception |
| 44. | fund balance | accumulated net resources |
| 45. | governance | system of oversight and control |
| 46. | grant | funds given for a purpose |
| 47. | guarantee | promise to cover obligation |
| 48. | impairment | permanent reduction in asset value |
| 49. | income statement | report of profit and loss |
| 50. | insurance | protection against financial loss |
| 51. | interest | cost or earnings on money |
| 52. | internal control | process to prevent errors |
| 53. | investment | asset bought for return |
| 54. | invoice | bill requesting payment |
| 55. | ledger | record of financial transactions |
| 56. | liability | financial obligation or debt |
| 57. | liquidity | ability to meet short-term needs |
| 58. | loan | borrowed money to repay |
| 59. | market value | price in the open market |
| 60. | maturity | date debt becomes due |
| 61. | net present value | value after discounting cash flows |
| 62. | option | right to buy or sell |
| 63. | overdraft | negative bank account balance |
| 64. | payable | amount owed to others |
| 65. | payment | money paid to settle |
| 66. | payroll | employee wage payments |
| 67. | performance | how well investments or finances do |
| 68. | portfolio | collection of investments |
| 69. | principal | original amount of money |
| 70. | procurement | buying goods or services |
| 71. | purchase order | official order to buy |
| 72. | receipt | record of money received |
| 73. | receivable | amount owed to you |
| 74. | reconciliation | matching records for accuracy |
| 75. | remittance | money sent as payment |
| 76. | reporting | preparing and presenting financial data |
| 77. | reserve | funds set aside |
| 78. | revenue | money received from operations |
| 79. | risk | chance of financial loss |
| 80. | securities | tradable financial instruments |
| 81. | sequester | hold back budgeted funds |
| 82. | solvency | ability to meet long-term debts |
| 83. | spread | difference between two rates |
| 84. | stewardship | responsible management of resources |
| 85. | supplier | business providing goods or services |
| 86. | surplus | amount left over |
| 87. | swap | contract exchanging cash flows |
| 88. | tax | mandatory government charge |
| 89. | transparency | openness in financial reporting |
| 90. | treasury | management of money and funds |
| 91. | trust | legal arrangement holding assets |
| 92. | valuation | determining financial worth |
| 93. | variance | difference from budget or plan |
| 94. | vendor | seller of goods or services |
| 95. | wire transfer | electronic bank-to-bank payment |
| 96. | withdrawal | money taken from an account |
| 97. | withholding | amount kept from pay |
| 98. | working capital | current assets minus liabilities |
| 99. | write-off | removal of value from books |
| 100. | year-end | close of the fiscal year |
