British conolisation introduced English language in America in the early 17th century.
Over the past 400 years, America has its own English in the United State; it is known as American English.
There are many American English words which have different pronunciation than British English.
There are some American English words which have different spelling than British English.
The British has ruled many years in many countries in the world.
During those ruling period, the British used English language as official language wherever they ruled.
This is the one reason why British English is spoken more countries than American English.
Here are given top 50 accounting words which have different spelling and pronunciation between British English and American English but their meaning is same in accounting terminology.
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Accounting Equation |
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Basic Journal Entries in Nepali |
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Basic Journal Entries |
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Journal Entry and Ledger |
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Ledger |
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Subsidiary Book |
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Cash Book |
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Trial Balance & Adjusted Trial Balance |
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Bank Reconciliation Statement (BRS) |
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Depreciation |
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Final Account: Class 11 |
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Adjustment In Final Account |
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Capital and Revenue |
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Single Entry System |
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Non-Profit Organization (Non-Trading Concern) |
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Government Accounting |
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Goswara Voucher (Journal Voucher) |
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American Accounting Words |
British Accounting Words |
Account payable |
Bills payable, trade creditor, supplier |
Account receivable |
Bills receivable, trade debtor, customer |
Accrual |
Provision |
Additional paid-up capital |
Share premium account |
Advance |
Prepaid |
Allowance for doubtful accounts |
Provision for bad debts |
Allowance for uncollectible |
Provision for bad debts |
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Bonds |
Debentures |
Book value |
Net asset value |
Bylaws |
Articles of Association |
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Capital lease |
Finance lease |
Common stock |
Equity shares, ordinary shares |
Corporation |
Company |
Credit memo |
Credit note |
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Ending inventory |
Closing stock |
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Financial statements |
Accounts |
Fiscal period |
Accounting period |
Fiscal year |
Financial year |
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Gross income |
Gross profit |
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Income (earnings) |
Profits |
Income statement |
Profit and loss account |
Inventory |
Stock, business goods |
Issued |
Allotted |
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Lease purchase |
Hire purchase |
Leverage |
Gearing |
Long-term debt |
Long-term loan, loan capital |
Long-term investment |
Fixed assets investment |
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Merchandise |
Goods, business goods |
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Net income |
Net profit |
Notes payable |
Bills payable |
Notes receivable |
Bills receivable |
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Owner’s equity |
Capital |
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Payable |
Outstanding, due, unpaid |
Par value |
Nominal value |
Preferred stocks |
Preference shares |
Property, plant and equipment |
Fixed tangible assets |
Purchase on account |
Purchase on credit |
Purchase method |
Acquisition accounting |
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Real estate |
Premises |
Receivables |
Debtors |
Retained earnings |
Profit and loss appropriation account |
Revenues (sales) |
Turnover (sales) |
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Shares outstanding |
Issued shares, shares issued |
Stockholder’s equity |
Reserves, shareholder’s equity |
Statement of financial position |
Balance sheet |
Stock |
Shares |
Stock dividend |
Bonus share |
Stockholders |
Shareholders |
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Tax depreciation |
Capital allowance |
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Uncollectible |
Bad debts |
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Share (Accounting for Share) |
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Share in Nepali |
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Debentures |
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Final Account: Class 12 |
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Final Account in Nepali |
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Work Sheet |
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Ratio Analysis (Accounting Ratio) |
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Fund Flow Statement |
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Cash Flow Statement |
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Theory Accounting Xii |
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Theory: Cost Accounting |
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Cost Accounting |
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LIFO−FIFO |
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Cost Sheet, Unit Costing |
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Cost Reconciliation Statement |
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