Accounting Vocabulary - Expert Crossword Puzzle

QUESTIONS LIST:

• gearing : the extend to which a company’s long-term finance relies on debt as compared to equity; also known as leverage.
• debenture : long-term loan, usually with a fixed rate of interest and often secured on fixed property or floating assets such as inventory or trade receivables.
• impairment : goodwill is not amortized; subject to annual review.
• intangible : asset with no physical substance.
• over trading : rapid expansion in business activity with insufficiently little long-term capital to finance it, often leading to difficulty in paying liabilities as they fall due.
• payback period : capital investment appraisals technique that measures how long it will take to recover the initial investment.
• prudence : fundamental accounting concept – profits should not be recognized until realized while expenses must be recognized as soon as they can be anticipated (within reason).
• working capital : excess of current assets over current liabilities.
• amortization : equivalent of depreciation; applied to leasehold premises.
• variance : the difference between the budgeted figures and the actual figures.