{"id":531,"date":"2022-04-08T18:07:25","date_gmt":"2022-04-08T15:07:25","guid":{"rendered":"https:\/\/bookkeepa.co.tz\/?page_id=531"},"modified":"2022-04-08T18:09:57","modified_gmt":"2022-04-08T15:09:57","slug":"dictionary","status":"publish","type":"page","link":"https:\/\/bookkeepa.co.tz\/en\/dictionary\/","title":{"rendered":"Dictionary"},"content":{"rendered":"<div id=\"fws_6a239e83a71cb\"  data-column-margin=\"default\" data-midnight=\"dark\"  class=\"wpb_row vc_row-fluid vc_row standard_section\"  style=\"padding-top: 100px; padding-bottom: 100px; \"><div class=\"row-bg-wrap\" data-bg-animation=\"none\" data-bg-overlay=\"false\"><div class=\"inner-wrap\"><div class=\"row-bg\"  style=\"\"><\/div><\/div><div class=\"row-bg-overlay\" ><\/div><\/div><div class=\"row_col_wrap_12 col span_12 dark left\">\n\t<div  class=\"vc_col-sm-12 wpb_column column_container vc_column_container col no-extra-padding inherit_tablet inherit_phone\"  data-t-w-inherits=\"default\" data-bg-cover=\"\" data-padding-pos=\"all\" data-has-bg-color=\"false\" data-bg-color=\"\" data-bg-opacity=\"1\" data-hover-bg=\"\" data-hover-bg-opacity=\"1\" data-animation=\"\" data-delay=\"0\" >\n\t\t<div class=\"vc_column-inner\" ><div class=\"column-bg-overlay-wrap\" data-bg-animation=\"none\"><div class=\"column-bg-overlay\"><\/div><\/div>\n\t\t\t<div class=\"wpb_wrapper\">\n\t\t\t\t<div class=\"nectar-scrolling-tabs\" data-nav-tag=\"h5\" data-tab-spacing=\"10%\" data-navigation-width=\"regular\" data-color-scheme=\"accent-color\"><div class=\"scrolling-tab-nav\"><div class=\"line\"><\/div><ul class=\"wpb_tabs_nav ui-tabs-nav\" data-spacing=\"15px\"><li class=\"menu-item\"><div class=\"menu-content\"><h5><a class=\"skip-hash\" href=\"#tab_6a239e83a76ef\"><span>A<\/span><\/a><\/h5><\/div><\/li><li class=\"menu-item\"><div class=\"menu-content\"><h5><a class=\"skip-hash\" href=\"#tab_6a239e83a76f4\"><span>B<\/span><\/a><\/h5><\/div><\/li><li class=\"menu-item\"><div class=\"menu-content\"><h5><a class=\"skip-hash\" href=\"#tab_6a239e83a76f7\"><span>C<\/span><\/a><\/h5><\/div><\/li><li class=\"menu-item\"><div class=\"menu-content\"><h5><a class=\"skip-hash\" href=\"#tab_6a239e83a76f9\"><span>D<\/span><\/a><\/h5><\/div><\/li><li class=\"menu-item\"><div class=\"menu-content\"><h5><a class=\"skip-hash\" href=\"#tab_6a239e83a76fa\"><span>E<\/span><\/a><\/h5><\/div><\/li><li class=\"menu-item\"><div class=\"menu-content\"><h5><a class=\"skip-hash\" href=\"#tab_6a239e83a76fc\"><span>F<\/span><\/a><\/h5><\/div><\/li><li class=\"menu-item\"><div class=\"menu-content\"><h5><a class=\"skip-hash\" href=\"#tab_6a239e83a76fd\"><span>G<\/span><\/a><\/h5><\/div><\/li><li class=\"menu-item\"><div class=\"menu-content\"><h5><a class=\"skip-hash\" href=\"#tab_6a239e83a76ff\"><span>I<\/span><\/a><\/h5><\/div><\/li><li class=\"menu-item\"><div class=\"menu-content\"><h5><a class=\"skip-hash\" href=\"#tab_6a239e83a7700\"><span>L<\/span><\/a><\/h5><\/div><\/li><li class=\"menu-item\"><div class=\"menu-content\"><h5><a class=\"skip-hash\" href=\"#tab_6a239e83a7702\"><span>M<\/span><\/a><\/h5><\/div><\/li><li class=\"menu-item\"><div class=\"menu-content\"><h5><a class=\"skip-hash\" href=\"#tab_6a239e83a7703\"><span>N<\/span><\/a><\/h5><\/div><\/li><li class=\"menu-item\"><div class=\"menu-content\"><h5><a class=\"skip-hash\" href=\"#tab_6a239e83a7705\"><span>O<\/span><\/a><\/h5><\/div><\/li><li class=\"menu-item\"><div class=\"menu-content\"><h5><a class=\"skip-hash\" href=\"#tab_6a239e83a7706\"><span>P<\/span><\/a><\/h5><\/div><\/li><li class=\"menu-item\"><div class=\"menu-content\"><h5><a class=\"skip-hash\" href=\"#tab_6a239e83a7708\"><span>R<\/span><\/a><\/h5><\/div><\/li><li class=\"menu-item\"><div class=\"menu-content\"><h5><a class=\"skip-hash\" href=\"#tab_6a239e83a7709\"><span>S<\/span><\/a><\/h5><\/div><\/li><li class=\"menu-item\"><div class=\"menu-content\"><h5><a class=\"skip-hash\" href=\"#tab_6a239e83a770b\"><span>U<\/span><\/a><\/h5><\/div><\/li><li class=\"menu-item\"><div class=\"menu-content\"><h5><a class=\"skip-hash\" href=\"#tab_6a239e83a770d\"><span>V<\/span><\/a><\/h5><\/div><\/li><li class=\"menu-item\"><div class=\"menu-content\"><h5><a class=\"skip-hash\" href=\"#tab_6a239e83a770f\"><span>W<\/span><\/a><\/h5><\/div><\/li><\/ul><\/div><div class=\"scrolling-tab-content\">\n\t\t\t<div id=\"tab-a\" data-tab-icon=\"\" class=\"wpb_tab ui-tabs-panel wpb_ui-tabs-hide clearfix\">\n\t\t\t\t\r\n<div class=\"wpb_text_column wpb_content_element\" >\r\n\t<div class=\"wpb_wrapper\">\r\n\t\t<h4><b>Account<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">A representation of money, resources, transactions, claims to resources and changes in resources in words or other units of measurement.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">E.g. <\/span><i><span style=\"font-weight: 400;\">Account<\/span><\/i> <i><span style=\"font-weight: 400;\">Receivable: <\/span><\/i><span style=\"font-weight: 400;\">represents resources (money) you have a claim to against a <\/span><span style=\"font-weight: 400;\">debtor<\/span><\/p>\n<h4><b>Account Payable\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Amount of money you owe a <\/span><span style=\"font-weight: 400;\">creditor.<\/span><\/p>\n<h4><b>Account Receivable<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Amount of money due from customers or <\/span><span style=\"font-weight: 400;\">debtors<\/span><\/p>\n<h4><b>Accounting<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Recording and reporting of financial transactions including origin of transaction, treatment and summarization in the <\/span><span style=\"font-weight: 400;\">financial statements<\/span><\/p>\n<h4><b>Accrual<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Recognizing a <\/span><span style=\"font-weight: 400;\">revenue<\/span><span style=\"font-weight: 400;\"> or <\/span><span style=\"font-weight: 400;\">expense<\/span><span style=\"font-weight: 400;\">\u00a0 when a transaction has occurred but the money has not yet been earned or paid.<\/span><\/p>\n<h4><b>Accrued Expense<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">An<\/span><span style=\"font-weight: 400;\"> expense<\/span><span style=\"font-weight: 400;\"> that has occurred but has not yet been <\/span><span style=\"font-weight: 400;\">realized<\/span><\/p>\n<h4><b>Accrued Payroll Taxes<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Payroll taxes<\/span><span style=\"font-weight: 400;\"> that have occurred but not yet been recognized in the accounts<\/span><\/p>\n<h4><b>Amortization<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">A systematic reduction in value over a period of time of intangible <\/span><span style=\"font-weight: 400;\">assets<\/span><span style=\"font-weight: 400;\"> such as licenses. <\/span><i><span style=\"font-weight: 400;\">Cf<\/span><\/i> <span style=\"font-weight: 400;\">Depreciation<\/span><\/p>\n<h4><b>Appreciation<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Increase in value of an <\/span><span style=\"font-weight: 400;\">asset.<\/span><\/p>\n<h4><b>Asset<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Anything of value to which a company has legal claim that is expected to be of economic benefit in the future. It can be tangible or intangible<\/span><\/p>\n<p><span style=\"font-weight: 400;\">E.g. <\/span><span style=\"font-weight: 400;\">Land: <\/span><span style=\"font-weight: 400;\">\u00a0Is an<\/span><span style=\"font-weight: 400;\"> asset<\/span><span style=\"font-weight: 400;\"> because of possible <\/span><span style=\"font-weight: 400;\">appreciation<\/span><span style=\"font-weight: 400;\"> in value as well as providing a location to carry out economic activities.<\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t\t<div id=\"tab-b\" data-tab-icon=\"\" class=\"wpb_tab ui-tabs-panel wpb_ui-tabs-hide clearfix\">\n\t\t\t\t\r\n<div class=\"wpb_text_column wpb_content_element\" >\r\n\t<div class=\"wpb_wrapper\">\r\n\t\t<h4><b>Bad Debt<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">A loan or <\/span><span style=\"font-weight: 400;\">account receivable<\/span><span style=\"font-weight: 400;\"> whose entire or partial amount is considered uncollectable.<\/span><\/p>\n<h4><b>Balance Sheet<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">A <\/span><span style=\"font-weight: 400;\">financial statement<\/span><span style=\"font-weight: 400;\"> that describes the financial position \/ financial condition of a company as at a specific point in time. It presents <\/span><span style=\"font-weight: 400;\">assets<\/span><span style=\"font-weight: 400;\">, <\/span><span style=\"font-weight: 400;\">liabilities<\/span><span style=\"font-weight: 400;\"> and <\/span><span style=\"font-weight: 400;\">equity.<\/span><\/p>\n<h4><b>Bank<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">An institution engaged in the business of deposit taking, protecting money for others and making loans. It may also be engaged in other services such as a wealth management and foreign currency exchange.<\/span><\/p>\n<h4><b>Banking<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">This includes all the transaction taking place with a <\/span><span style=\"font-weight: 400;\">bank<\/span><b>\u00a0<\/b><\/p>\n<h4><b>Bank charges<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">The fees paid to the <\/span><span style=\"font-weight: 400;\">bank<\/span><span style=\"font-weight: 400;\"> for services provided<\/span><\/p>\n<h4><b>Bookkeeping<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">The process of recording financial transactions and keeping financial records<\/span><b>\u00a0<\/b><\/p>\n<h4><b>Book Value<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Amount of an <\/span><span style=\"font-weight: 400;\">asset<\/span><span style=\"font-weight: 400;\"> reflects on the balance sheet usually after depreciation that denotes that \u201ccurrent value of the asset of considering wear and tear. Also known as carrying value.<\/span><\/p>\n<h4><b>Business Loans<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Loans issued to businesses specifically intended for business purposes. Usually fall into two categories <\/span><span style=\"font-weight: 400;\">Working capital<\/span><span style=\"font-weight: 400;\"> and <\/span><span style=\"font-weight: 400;\">fixed asset<\/span><span style=\"font-weight: 400;\"> loans<\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t\t<div id=\"tab-c\" data-tab-icon=\"\" class=\"wpb_tab ui-tabs-panel wpb_ui-tabs-hide clearfix\">\n\t\t\t\t\r\n<div class=\"wpb_text_column wpb_content_element\" >\r\n\t<div class=\"wpb_wrapper\">\r\n\t\t<h4><b>Capital<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Cash<\/span><span style=\"font-weight: 400;\"> or <\/span><span style=\"font-weight: 400;\">liquid<\/span> <span style=\"font-weight: 400;\">assets<\/span><span style=\"font-weight: 400;\"> held for expenditures. Also money used to start a business.<\/span><\/p>\n<h4><b>Capital Expenditure<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Outlay of money used for acquiring or improving <\/span><span style=\"font-weight: 400;\">fixed assets.<\/span><\/p>\n<h4><b>Cash<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Amount of money held in physical cash (<\/span><span style=\"font-weight: 400;\">Petty cash<\/span><span style=\"font-weight: 400;\">), a bank account (<\/span><span style=\"font-weight: 400;\">current<\/span><span style=\"font-weight: 400;\"> or saving), mobile money balances and any <\/span><span style=\"font-weight: 400;\">liquid<\/span> <span style=\"font-weight: 400;\">current assets<\/span><span style=\"font-weight: 400;\"> that can be converted to cash easily.<\/span><\/p>\n<h4><b>Cash Flow<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">This is the net inflow or outflow of <\/span><span style=\"font-weight: 400;\">cash<\/span><span style=\"font-weight: 400;\"> in a certain period relating to a particular activity<\/span><\/p>\n<h4><b>Cash Flow Statement\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">A financial statement that presents information on all net cash inflows or outflows a company experiences due to <\/span><span style=\"font-weight: 400;\">financing activities<\/span><span style=\"font-weight: 400;\">, <\/span><span style=\"font-weight: 400;\">Investing activities<\/span><span style=\"font-weight: 400;\"> and <\/span><span style=\"font-weight: 400;\">operating activities<\/span><span style=\"font-weight: 400;\"> in a certain period.<\/span><\/p>\n<h4><b>Cost of Sales<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Cost of buying <\/span><span style=\"font-weight: 400;\">inventory<\/span><span style=\"font-weight: 400;\">, raw materials and producing goods.<\/span><\/p>\n<h4><b>Closing Inventory<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">This is the amount of <\/span><span style=\"font-weight: 400;\">inventory<\/span><span style=\"font-weight: 400;\"> held at the end of a specific period<\/span><\/p>\n<h4><b>Creditor<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">A party that loans money or other <\/span><span style=\"font-weight: 400;\">asset<\/span><span style=\"font-weight: 400;\"> to a <\/span><span style=\"font-weight: 400;\">debtor<\/span><\/p>\n<h4><b>Current Account<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">This is a deposit account held at a financial institution that allows withdrawals and deposits on demand.<\/span><\/p>\n<h4><b>Current Asset<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">An <\/span><span style=\"font-weight: 400;\">asset<\/span><span style=\"font-weight: 400;\"> that can be converted to <\/span><span style=\"font-weight: 400;\">cash<\/span><span style=\"font-weight: 400;\"> within a year.<\/span><\/p>\n<h4><b>Current Liability<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">A <\/span><span style=\"font-weight: 400;\">liability<\/span><span style=\"font-weight: 400;\"> that will come due within a year.<\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t\t<div id=\"tab-d\" data-tab-icon=\"\" class=\"wpb_tab ui-tabs-panel wpb_ui-tabs-hide clearfix\">\n\t\t\t\t\r\n<div class=\"wpb_text_column wpb_content_element\" >\r\n\t<div class=\"wpb_wrapper\">\r\n\t\t<h4><b>Debtor<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">A party owing money or <\/span><span style=\"font-weight: 400;\">assets<\/span><span style=\"font-weight: 400;\"> to a <\/span><span style=\"font-weight: 400;\">creditor<\/span><\/p>\n<h4><b>Depreciation<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">This is an <\/span><span style=\"font-weight: 400;\">expense<\/span><span style=\"font-weight: 400;\"> allowance made for wear and tear on a <\/span><span style=\"font-weight: 400;\">fixed asset<\/span><span style=\"font-weight: 400;\"> over its useful life. Also, a systematic reduction in value of a tangible<\/span><span style=\"font-weight: 400;\"> asset<\/span><span style=\"font-weight: 400;\"> over its <\/span><span style=\"font-weight: 400;\">useful life<\/span><span style=\"font-weight: 400;\">. <\/span><i><span style=\"font-weight: 400;\">Cf<\/span><\/i> <span style=\"font-weight: 400;\">Amortization<\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t\t<div id=\"tab-e\" data-tab-icon=\"\" class=\"wpb_tab ui-tabs-panel wpb_ui-tabs-hide clearfix\">\n\t\t\t\t\r\n<div class=\"wpb_text_column wpb_content_element\" >\r\n\t<div class=\"wpb_wrapper\">\r\n\t\t<h4><b>Expense<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">An amount of money spent on a specific item or transaction.\u00a0<\/span><\/p>\n<h4><b>Equity<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">This is the amount of a business\u2019 total <\/span><span style=\"font-weight: 400;\">assets<\/span><span style=\"font-weight: 400;\"> less its total <\/span><span style=\"font-weight: 400;\">liabilities<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t\t<div id=\"tab-f\" data-tab-icon=\"\" class=\"wpb_tab ui-tabs-panel wpb_ui-tabs-hide clearfix\">\n\t\t\t\t\r\n<div class=\"wpb_text_column wpb_content_element\" >\r\n\t<div class=\"wpb_wrapper\">\r\n\t\t<h4><b>Financial Statement<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">A presentation of financial data relating to the company\u2019s financial condition, <\/span><span style=\"font-weight: 400;\">profitability<\/span><span style=\"font-weight: 400;\"> and <\/span><span style=\"font-weight: 400;\">cash flow<\/span><span style=\"font-weight: 400;\"> at specific points in time or over certain periods of time.<\/span><\/p>\n<h4><b>Financing Activities<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">These are activities \/ transactions relating to how a company raises capital and pays it back.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">E.g. selling shares<\/span><\/p>\n<h4><b>Fixed assets<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">These are tangible long term <\/span><span style=\"font-weight: 400;\">assets<\/span><span style=\"font-weight: 400;\"> used in the operation of business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">E.g. Buildings and vehicles<\/span><\/p>\n<h4><b>Fixed Costs<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Costs that remain constant within a specific range of activities<\/span><\/p>\n<h4><b>Fixtures and Fittings<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Attachments and additions to buildings.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">E.g. bathroom installations and furniture.<\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t\t<div id=\"tab-g\" data-tab-icon=\"\" class=\"wpb_tab ui-tabs-panel wpb_ui-tabs-hide clearfix\">\n\t\t\t\t\r\n<div class=\"wpb_text_column wpb_content_element\" >\r\n\t<div class=\"wpb_wrapper\">\r\n\t\t<h4><b>Gain on sale of assets<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Excess <\/span><span style=\"font-weight: 400;\">revenues<\/span><span style=\"font-weight: 400;\"> received over the cost of the <\/span><span style=\"font-weight: 400;\">asset<\/span><span style=\"font-weight: 400;\"> upon sale of the asset<\/span><\/p>\n<h4><b>Gross Profit<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">The difference between Total <\/span><span style=\"font-weight: 400;\">Sales<\/span><span style=\"font-weight: 400;\"> and <\/span><span style=\"font-weight: 400;\">Cost of Sales<\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t\t<div id=\"tab-i\" data-tab-icon=\"\" class=\"wpb_tab ui-tabs-panel wpb_ui-tabs-hide clearfix\">\n\t\t\t\t\r\n<div class=\"wpb_text_column wpb_content_element\" >\r\n\t<div class=\"wpb_wrapper\">\r\n\t\t<h4><b>Income<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Any inflow of<\/span><span style=\"font-weight: 400;\"> revenue<\/span><span style=\"font-weight: 400;\"> to a company during a period of time.<\/span><\/p>\n<h4><b>Income Tax<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">An umbrella term describing P.A.Y.E. Tax, Withholding Tax and VAT\u00a0<\/span><\/p>\n<h4><b>Interest\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Payment for use of borrowed money.<\/span><\/p>\n<h4><b>Interest Expense<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Interest<\/span><span style=\"font-weight: 400;\"> paid in a specific period<\/span><\/p>\n<h4><b>Inventory<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Tangible property held for sale. Stock.\u00a0<\/span><\/p>\n<h4><b>Investing<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Putting money into something that will earn you an interest or appreciate in value or make a profit<\/span><\/p>\n<h4><b>Investing Activities<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">These are activities \/ transactions relating to <\/span><span style=\"font-weight: 400;\">investing<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">E.g. Buying fixed <\/span><span style=\"font-weight: 400;\">assets<\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t\t<div id=\"tab-l\" data-tab-icon=\"\" class=\"wpb_tab ui-tabs-panel wpb_ui-tabs-hide clearfix\">\n\t\t\t\t\r\n<div class=\"wpb_text_column wpb_content_element\" >\r\n\t<div class=\"wpb_wrapper\">\r\n\t\t<h4><b>Liability<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Debts or obligations owed to a <\/span><span style=\"font-weight: 400;\">creditor<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h4><b>Liquid<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Easily convertible to <\/span><span style=\"font-weight: 400;\">cash<\/span><\/p>\n<h4><b>Loss<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">When there is an excess of <\/span><span style=\"font-weight: 400;\">expenses<\/span><span style=\"font-weight: 400;\"> over <\/span><span style=\"font-weight: 400;\">revenue<\/span><span style=\"font-weight: 400;\"> for a certain period.<\/span><\/p>\n<h4><b>Loss on disposal of asset<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">The <\/span><span style=\"font-weight: 400;\">Loss<\/span><span style=\"font-weight: 400;\"> incurred when selling an <\/span><span style=\"font-weight: 400;\">asset<\/span><span style=\"font-weight: 400;\"> at an amount less than <\/span><span style=\"font-weight: 400;\">Book value<\/span><span style=\"font-weight: 400;\"> of that asset<\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t\t<div id=\"tab-m\" data-tab-icon=\"\" class=\"wpb_tab ui-tabs-panel wpb_ui-tabs-hide clearfix\">\n\t\t\t\t\r\n<div class=\"wpb_text_column wpb_content_element\" >\r\n\t<div class=\"wpb_wrapper\">\r\n\t\t<h4><b>Margin<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">An excess of selling price of cost of purchase or manufacture<\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t\t<div id=\"tab-n\" data-tab-icon=\"\" class=\"wpb_tab ui-tabs-panel wpb_ui-tabs-hide clearfix\">\n\t\t\t\t\r\n<div class=\"wpb_text_column wpb_content_element\" >\r\n\t<div class=\"wpb_wrapper\">\r\n\t\t<h4><b>Net<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">The figure remaining after all relevant deductions have been made.<\/span><\/p>\n<h4><b>Net Income<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Excess or deficit or<\/span><span style=\"font-weight: 400;\"> revenues<\/span><span style=\"font-weight: 400;\"> and gains after <\/span><span style=\"font-weight: 400;\">expenses<\/span><span style=\"font-weight: 400;\"> and losses are deducted for a specific period.<\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t\t<div id=\"tab-o\" data-tab-icon=\"\" class=\"wpb_tab ui-tabs-panel wpb_ui-tabs-hide clearfix\">\n\t\t\t\t\r\n<div class=\"wpb_text_column wpb_content_element\" >\r\n\t<div class=\"wpb_wrapper\">\r\n\t\t<h4><b>Operating Activities<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">These are activities \/ transactions relating to ongoing regular business activities.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">E.g. selling goods<\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t\t<div id=\"tab-p\" data-tab-icon=\"\" class=\"wpb_tab ui-tabs-panel wpb_ui-tabs-hide clearfix\">\n\t\t\t\t\r\n<div class=\"wpb_text_column wpb_content_element\" >\r\n\t<div class=\"wpb_wrapper\">\r\n\t\t<h4><b>Payroll<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">A list of company employees and the money they are to be paid.<\/span><\/p>\n<h4><b>Payroll Taxes<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">P.A.Y.E. taxes for employees that must be paid to the government.<\/span><\/p>\n<h4><b>Petty Cash<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">A small amount of <\/span><span style=\"font-weight: 400;\">cash<\/span><span style=\"font-weight: 400;\"> kept at hand to pay for minor office<\/span><span style=\"font-weight: 400;\"> expenses<\/span><\/p>\n<h4><b>Profit<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Positive <\/span><span style=\"font-weight: 400;\">Net Income<\/span><span style=\"font-weight: 400;\">. Excess of income that remains after deducting <\/span><span style=\"font-weight: 400;\">expenses<\/span><span style=\"font-weight: 400;\"> from <\/span><span style=\"font-weight: 400;\">revenues<\/span><\/p>\n<h4><b>Profit and Loss Statement\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">A <\/span><span style=\"font-weight: 400;\">financial Statement<\/span><span style=\"font-weight: 400;\"> that summaries the effects of <\/span><span style=\"font-weight: 400;\">revenues<\/span><span style=\"font-weight: 400;\"> and <\/span><span style=\"font-weight: 400;\">expenses<\/span><span style=\"font-weight: 400;\"> over a period of time<\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t\t<div id=\"tab-r\" data-tab-icon=\"\" class=\"wpb_tab ui-tabs-panel wpb_ui-tabs-hide clearfix\">\n\t\t\t\t\r\n<div class=\"wpb_text_column wpb_content_element\" >\r\n\t<div class=\"wpb_wrapper\">\r\n\t\t<h4><b>Realization<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Conversion into <\/span><span style=\"font-weight: 400;\">cash<\/span><\/p>\n<h4><b>Revenue<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Money earned from <\/span><span style=\"font-weight: 400;\">sale<\/span><span style=\"font-weight: 400;\"> of products or delivery of services<\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t\t<div id=\"tab-s\" data-tab-icon=\"\" class=\"wpb_tab ui-tabs-panel wpb_ui-tabs-hide clearfix\">\n\t\t\t\t\r\n<div class=\"wpb_text_column wpb_content_element\" >\r\n\t<div class=\"wpb_wrapper\">\r\n\t\t<h4><b>Sale<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Exchange of goods or services for money<\/span><\/p>\n<h4><b>Share<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">A unit of ownership in a company. <\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t\t<div id=\"tab-u\" data-tab-icon=\"\" class=\"wpb_tab ui-tabs-panel wpb_ui-tabs-hide clearfix\">\n\t\t\t\t\r\n<div class=\"wpb_text_column wpb_content_element\" >\r\n\t<div class=\"wpb_wrapper\">\r\n\t\t<h4><b>Useful Life<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Estimated time of usability of an asset<\/span><\/p>\n<h4><b>Utility Expense<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Costs incurred by using utilities such as electricity, water and heating<\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t\t<div id=\"tab-v\" data-tab-icon=\"\" class=\"wpb_tab ui-tabs-panel wpb_ui-tabs-hide clearfix\">\n\t\t\t\t\r\n<div class=\"wpb_text_column wpb_content_element\" >\r\n\t<div class=\"wpb_wrapper\">\r\n\t\t<h4><b>Value<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">How much money something is worth<\/span><\/p>\n<h4><b>VAT<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">A consumer tax charged on taxable goods, services and imports<\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t\t<div id=\"tab-w\" data-tab-icon=\"\" class=\"wpb_tab ui-tabs-panel wpb_ui-tabs-hide clearfix\">\n\t\t\t\t\r\n<div class=\"wpb_text_column wpb_content_element\" >\r\n\t<div class=\"wpb_wrapper\">\r\n\t\t<h4><b>Working Capital<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">This is capital used in the day-to-day running of a business. Also an excess of <\/span><span style=\"font-weight: 400;\">current assets<\/span><span style=\"font-weight: 400;\"> over <\/span><span style=\"font-weight: 400;\">current liabilities<\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> <\/div><\/div>\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n<\/div><\/div>","protected":false},"excerpt":{"rendered":"ABCDEFGILMNOPRSUVW Account A representation of money, resources, transactions, claims to resources and changes in resources in words or other units of measurement.\u00a0 E.g. Account Receivable: represents resources (money) you have...","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-531","page","type-page","status-publish"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dictionary &#8211; BOOKKEEPA\u2122<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bookkeepa.co.ke\/dictionary\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dictionary &#8211; BOOKKEEPA\u2122\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bookkeepa.co.ke\/dictionary\/\" \/>\n<meta property=\"og:site_name\" content=\"BOOKKEEPA\u2122\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-08T15:09:57+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/bookkeepa.co.ke\\\/dictionary\\\/\",\"url\":\"https:\\\/\\\/bookkeepa.co.ke\\\/dictionary\\\/\",\"name\":\"Dictionary &#8211; BOOKKEEPA\u2122\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/bookkeepa.co.tz\\\/#website\"},\"datePublished\":\"2022-04-08T15:07:25+00:00\",\"dateModified\":\"2022-04-08T15:09:57+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/bookkeepa.co.ke\\\/dictionary\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/bookkeepa.co.ke\\\/dictionary\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/bookkeepa.co.ke\\\/dictionary\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/bookkeepa.co.tz\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Dictionary\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/bookkeepa.co.tz\\\/#website\",\"url\":\"https:\\\/\\\/bookkeepa.co.tz\\\/\",\"name\":\"BOOKKEEPA\u2122\",\"description\":\"Utunzaji Rahisi wa Biashara Yako Kutumia AI\",\"publisher\":{\"@id\":\"https:\\\/\\\/bookkeepa.co.tz\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/bookkeepa.co.tz\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/bookkeepa.co.tz\\\/#organization\",\"name\":\"BOOKKEEPA\u2122\",\"url\":\"https:\\\/\\\/bookkeepa.co.tz\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/bookkeepa.co.tz\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/secureservercdn.net\\\/198.71.233.31\\\/xgv.7fa.myftpupload.com\\\/wp-content\\\/uploads\\\/2021\\\/01\\\/bk-logo.png?time=1618859724\",\"contentUrl\":\"https:\\\/\\\/secureservercdn.net\\\/198.71.233.31\\\/xgv.7fa.myftpupload.com\\\/wp-content\\\/uploads\\\/2021\\\/01\\\/bk-logo.png?time=1618859724\",\"width\":690,\"height\":174,\"caption\":\"BOOKKEEPA\u2122\"},\"image\":{\"@id\":\"https:\\\/\\\/bookkeepa.co.tz\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Dictionary &#8211; BOOKKEEPA\u2122","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/bookkeepa.co.ke\/dictionary\/","og_locale":"en_US","og_type":"article","og_title":"Dictionary &#8211; BOOKKEEPA\u2122","og_url":"https:\/\/bookkeepa.co.ke\/dictionary\/","og_site_name":"BOOKKEEPA\u2122","article_modified_time":"2022-04-08T15:09:57+00:00","twitter_card":"summary_large_image","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/bookkeepa.co.ke\/dictionary\/","url":"https:\/\/bookkeepa.co.ke\/dictionary\/","name":"Dictionary &#8211; BOOKKEEPA\u2122","isPartOf":{"@id":"https:\/\/bookkeepa.co.tz\/#website"},"datePublished":"2022-04-08T15:07:25+00:00","dateModified":"2022-04-08T15:09:57+00:00","breadcrumb":{"@id":"https:\/\/bookkeepa.co.ke\/dictionary\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/bookkeepa.co.ke\/dictionary\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/bookkeepa.co.ke\/dictionary\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/bookkeepa.co.tz\/"},{"@type":"ListItem","position":2,"name":"Dictionary"}]},{"@type":"WebSite","@id":"https:\/\/bookkeepa.co.tz\/#website","url":"https:\/\/bookkeepa.co.tz\/","name":"BOOKKEEPA\u2122","description":"Utunzaji Rahisi wa Biashara Yako Kutumia AI","publisher":{"@id":"https:\/\/bookkeepa.co.tz\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/bookkeepa.co.tz\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/bookkeepa.co.tz\/#organization","name":"BOOKKEEPA\u2122","url":"https:\/\/bookkeepa.co.tz\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/bookkeepa.co.tz\/#\/schema\/logo\/image\/","url":"https:\/\/secureservercdn.net\/198.71.233.31\/xgv.7fa.myftpupload.com\/wp-content\/uploads\/2021\/01\/bk-logo.png?time=1618859724","contentUrl":"https:\/\/secureservercdn.net\/198.71.233.31\/xgv.7fa.myftpupload.com\/wp-content\/uploads\/2021\/01\/bk-logo.png?time=1618859724","width":690,"height":174,"caption":"BOOKKEEPA\u2122"},"image":{"@id":"https:\/\/bookkeepa.co.tz\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/bookkeepa.co.tz\/en\/wp-json\/wp\/v2\/pages\/531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bookkeepa.co.tz\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/bookkeepa.co.tz\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/bookkeepa.co.tz\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bookkeepa.co.tz\/en\/wp-json\/wp\/v2\/comments?post=531"}],"version-history":[{"count":3,"href":"https:\/\/bookkeepa.co.tz\/en\/wp-json\/wp\/v2\/pages\/531\/revisions"}],"predecessor-version":[{"id":535,"href":"https:\/\/bookkeepa.co.tz\/en\/wp-json\/wp\/v2\/pages\/531\/revisions\/535"}],"wp:attachment":[{"href":"https:\/\/bookkeepa.co.tz\/en\/wp-json\/wp\/v2\/media?parent=531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}